MSHDA Down Payment Assistance (DPA) for Conventional Mortgages

By
Mortgage and Lending with Mortgage 1, Inc. NMLS #136061

MSHDA Down Payment Assistance DPA

MSHDA Down Payment Assistance DPA

 

There are several important advantages of the MSHDA Down Payment Assistance (DPA) for Conventional mortgages over what has been traditionally offered with MSHDA down payment assistance. Including:

 

  • No upfront mortgage insurance & potentially lower monthly mortgage insurance than FHA (based on credit score).
  • Faster Appraisals - FHA appraisals typically take longer than a conventional appraisal.
  • Mortgage insurance may be terminated at some point in the future.  FHA monthly mortgage insurance will remain for the life of the loan.
  • Borrowers may qualify with their income based student loan payments (IBR) instead of the 1% of the loan balance as required by FHA guidelines.  

The Mortgage 1 Team makes the pre-qualification and pre-approval process very simple for borrowers exploring the idea of using the MSHDA Down Payment Assistance (DPA) for Conventional mortgages.  For a pre-qualification click here.  For an immediate approval using our Mortgage in a SNAP click here.

For more information on the MSHDA Down Payment Assistance (DPA) for Conventional mortgages click here for a flyer with more information.  Or visit www.MSHDADPA.com

Mortgage 1, Inc. is the state's largest MSHDA lender.  We have closed more MSHDA Down Payment Assistance (DPA) loans than any other institution.  Let us show you how the MSHDA Down Payment Assistance (DPA) can help you attain home ownership today.

  Mortgage in a SNAP

 

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Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

John, great information for first time buyers that are low on funds.   Great post.

Dec 12, 2017 07:10 AM #1
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Rainmaker
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John Higgins

Senior Loan Officer
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