Down Payment Grants Of 4.5% Of Purchase Price
Pilot Mortgage, LLC is excited to announce that we have partnered with the National Homebuyers Fund, Inc. (NHF) to provide our clients this wonderful down payment assistance program, NHF Sapphire, available throughout Arizona.
Down Payment Grant Key Benefits:
- NHF Grant: 3.00% or 4.50% of the 1st mortgage total loan amount.
- DPA Grant – no repayment required!
- Grant can be used for down payment and/or closing costs.
- Seller Credit of 6% is allowed.
- Gift funds are allowed!
- Can be paired with MCC.
- Borrower(s) not required to be First Time Homebuyers.
- Income Limit is based on qualifying income used for transaction, not household income.
• 620 Minimum FICO, Maximum 45% DTI.
• Income Limits: 115% of Area Median Income.
• All borrowers must occupy property as primary residence.
• The lesser of $424,250,000 or maximum loan amounts permitted by HUD.
• At least one borrower must have Homebuyer Counseling.
• Borrower Paid Origination Fee of 1.5% - May use Grant to Pay Origination Fee.
• Program Admin Fee = $1,145