Equal Housing Lender
Mortgage Professionals join us on May 24th from 11am-noon for the next Brokers and Bagels on Zoom meeting!
Thank you for registering for our recent webinar: Demystifying DPA for Mortgage Professionals.
If you missed this session, or would like to revisit the content, make sure to check out the recording.
Clients2Homeowners.com
Clients2Homeowners.com is a one-stop resource center offering mortgage "how-to" guides and new loan product information that loan originators can use to make it easier for real estate agents to assist clients looking to buy homes. Make sure to check out the monthly "Brokers & Bagels" sessions to learn ways you can help more clients achieve their dream of homeownership.
Down Payment Connect
Down Payment Connect automates the process of matching potential borrowers with your company approved DPA programs. The tool allows you to generate exclusive purchase leads and gives you access to a directory of available DPA programs. Subscribe today and start connecting your borrowers to the down payment help they need.
Down Payment Insiders Facebook Group
The
Down Payment Insiders Facebook Group is for industry pros interested in marketing ideas for reaching first-time homebuyers and understanding the latest on down payment programs. Come join the conversation!
Industry reports
Learn more about the types of programs available and the latest news about down payment programs through Down Payment Resource's recent reports.
Questions?
Contact Pam Marron at clients2homeowners@gmail.com.
Contact Down Payment Resource at info@DownPaymentResource.com.
Independent mortgage loan originators (MLO) have the greatest variety of DPA programs available for clients!
Wholesaler DPA Mortgages
Wholesaler lenders can provide:
1st mortgage combined with 2nd mortgage DPA:
Wholesale lenders that allow DPA to be added to originated 1st mortgage:
Wholesalers that provide FL FHFC Hometown Heroes, Bond, and TBA Products
Unique DPA Program Providers
Are you a wholesaler that allows DPA programs to be added to your 1st mortgage products? If yes, click here to add your wholesaler name to the DPA Wholesalers list.
An MLO's guide to getting started with Down Payment Connect
Use the Down Payment Connect Compare feature or DPA Mortgage Matrix to compare programs side by side.
Down Payment Connect along with the DPA Mortgage Matrix empowers mortgage loan officers who want to help their clients find the right Down Payment Assistance program as quickly as possible. No more spending time searching the internet for valuable guidelines that can be accessed from one place. By following the steps outlined in this guide, we hope you can find and easily compare DPA programs based on a variety of factors. Down Payment Connect along with the DPA Mortgage Matrix and updates directly from Downpaymentresource.com will empower MLO's to ensure that your clients get the assistance they need to achieve their dream of homeownership.
Join us for our 1st "Brokers and Bagels on Zoom" webinar, "Demystifying DPA for Mortgage Professionals" on April 26th at 11am by
clicking here for more details. Or read our latest blog,
Down Payment Connect Is A Game Changer For Mortgage Loan Originators.
Links to Income Levels
o Scroll down, Click Here for FY 2023 IL Documentation
o First select a state. Then select a county.
o Click on View County Calculations button. Shows income level by family size.
o HUD Median Family Income (100%) is in 2nd column on graph.
Differences in Income Calculations
Income Levels at 100% and Above
How to Calculate Income Levels Above 100% for All Mortgage Types Above
• For 115% Income: Mulô€†Ÿply 100% MFI or AMI income x 115%
• For 120% Income: Mulô€†Ÿply 100% MFI or AMI income x 120%
• For 140% Income: Mulô€†Ÿply 100% MFI or AMI income x 140%
• For 160% Income: Mulô€†Ÿply 100% MFI and AMI income x 160%
"In Down Payment Connect, each DPA profile provides a summary of each DPA program in the same format. Recently added filters allow MLO's to pare down available programs per client need. I use the DPA Directory daily to find and compare programs and check underwriting guidelines, and changes are updated monthly with a notification to the subscriber. The DPA directory has all programs accesible in one place - which has saved immense time previously spent scouring the internet. It's been a game changer for me!"