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Down Payment Assistance Loans - FSB Mortgage

What is down payment assistance?

A down payment assistance (DPA) loan is the type of product that provides the homebuyer 100% financing and requires 0% down payment (although closing costs are still required). This is achieved through a 1st and 2nd mortgage. FSB Mortgageā€™s DPA program can be used to obtain an FHA loan. The amount of the 2nd mortgage is up to 3.5% equal to the lessor of the sales price, or the appraised value.

Our DPA program has many advantages over other loans, which makes them an excellent choice for first-time homebuyers and homebuyers with less than perfect credit.

Why get a FSB Mortgage DPA loan?*

DPA Loans can benefit borrowers in the following ways:

  • ZERO down payment
  • Generous income limits
  • No First-Time Homebuyer Requirement
  • Lower FICO scores acceptable
  • Competitive interest rate on 2nd

*Not available in the following states: Massachusetts, New York or Washington

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