How do I qualify with little to no money out of pocket?

Coming up with the money upfront to buy a house can be challenging, but we believe everyone should have the opportunity to own their own home. MiMutual Mortgage has a variety of Down Payment Assistance programs to help you open the door to homeownership!

 

What is Down Payment Assistance?

Down Payment Assistance (DPA) programs can help first time and repeat buyers cover the down payment and other closing costs. These programs are offered by private organizations or state and local government agencies and can be paired with Conventional, FHA, USDA, and VA financing.

 

How do Down Payment Assistance (DPA) programs work?

There are a variety of DPA programs out there, and each work a little differently. In general, assistance is in the form of a second loan. Depending on the program, once certain criteria is met, the loan will be forgivable (meaning you don’t have to pay it back) or required to be paid back at little to no interest. Your loan officer can help determine which DPA program you qualify for.

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  • Borrow with little to no money out of pocket!
  • Assistance covers down payment and eligible closing costs!
  • Avaliable for first-time and repeat home buyers!
  • Used in conjunction with most financing types!
  • Nation-wide and state-specific programs avaliable!