Purchase Plus for First Time Homebuyers!!!!
Over the last year or so our Special Purpose Credit Program has proven to make a difference to first time home buyers in unserved communities. On November 18, 2023, we will launch the eligibility for certain census tract in Riverside, California.
Purchase Plus has the following benefits:
- Clients can qualify for $5,250 assistance toward their down payment
- No investor Loan Level Pricing Adjustments (fico score of 620 or better)
- Lower Mortgage Insurance Rates
- Appraisal credit if an appraisal is needed for the loan
Purchase Plus limitations:
- First Time Home Buyer (FTHB)
- The client’s primary residence at time of application must be within the approved geographical area