Equal Housing Lender
Variety of Down Payment Assistance Options for Clients
Contributors • September 1, 2020
More prospective homebuyers are inquiring about down payment assistance availability. As a mortgage broker, we can provide the greatest variety of options for your clients.
Prospective homebuyers are needing down payment assistance more and more. We can offer county DPA funds and many city programs. But as a mortgage broker, we also have wholesale DPA programs that offer expanded eligibility such as:
- One underwriter reviews both 1st and 2nd mortgage
- Expanded Automated Underwriting Debt to Income ratios are acceptable with minimum acceptable credit scores
- Can qualify with income of borrower applying for loan only, rather than total household income
90-day student loan delinquencies are silently crushing credit scores and killing mortgage approvals. Here’s how MLOs can fight back.
A Few Extra Points MLOs Need to Know For Clients With Student Loans
MLOs: Review 7 Points Before Pre-Approving Clients with Student Loans