Unlock Your Path to a No-Down Mortgage and Homeownership

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Answer a Few Quick Questions to Discover Your Down Payment Assistance Options

How it Works: 3 Simple Steps to Unlock No-Down Payment Programs

Step 1: Answer a Few Simple Questions

Tell Us About Your Goals

Answer a few quick questions to help us understand your unique homeownership journey. This simple step sets the foundation for finding the right support for you!

Step 2: Tailored Program Match

Discover Your Perfect Match

Based on your answers, we match you with the down payment assistance program that best suits your needs, ensuring you get maximum support toward your new home.

Step 3: Connect with a Knowledgeable Program Expert

Optional, Expert Guidance

For those who want extra support, we’ll connect you with a seasoned expert who knows your matched program inside and out. They’ll walk you through every detail, answer any questions, and make sure you feel confident about your options—no obligation required!

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What Types of Programs are featured here?

Program Highlight: FHA Fast 100+ Supreme

At MortgageNoDown.com, we know that saving for a down payment can be one of the biggest hurdles to buying a home. That’s why we’re here to help you discover down payment assistance programs designed to make homeownership more accessible. One standout program we feature is the FHA Fast 100+ Supreme, which offers unique advantages to qualified buyers looking to make their dreams of owning a home a reality.

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What is the FHA Fast 100+ Supreme Program?

The FHA Fast 100+ Supreme is a down payment assistance (DPA) program specifically tailored for FHA loans. This program combines a primary mortgage and a subordinate lien to cover 101.5% of the home’s value, making it easier for homebuyers to secure a home without the need for a large out-of-pocket down payment. Here’s what makes this program special:

101.5% Combined Loan-to-Value (CLTV): This program covers 100% of the primary mortgage and 1.5% through a subordinate lien, helping you finance a larger portion of the home’s purchase price.
Two-Tier Loan Structure: The second lien carries an interest rate 2% higher than the first, with a 10-year payment term, which means you’ll make monthly payments on both loans.
Flexible Payment Options with 2/1 Buydown: For the first two years, you can lower your monthly payments with the 2/1 buydown option, reducing your financial burden early on. (Note: This option isn’t available for manual underwriting.)

Key Program Details and Benefits

The FHA Fast 100+ Supreme program is packed with features that make it appealing to a broad range of buyers:

Minimum FICO Score of 620 for automated underwriting (DU Approve/Eligible).
Manual Underwriting Option: Available with a minimum FICO score of 660 (not eligible for the 2/1 buydown).
No Maximum Income Restrictions: Unlike many down payment assistance programs, the FHA Fast 100+ Supreme does not impose income limits, allowing more buyers to qualify.
No First-Time Homebuyer Requirement: This program is open to all buyers, not just those purchasing a home for the first time.
No Minimum Borrower Contribution: Buyers are not required to contribute any minimum amount, reducing upfront costs.
FHA Loan Limits: This program is available for both conforming and high-balance loan limits, giving buyers flexibility depending on their location.

Important Considerations

While the FHA Fast 100+ Supreme is a powerful tool for homebuyers, there are a few essential details to keep in mind:

Monthly Payments Required: You’ll make monthly payments on both the primary mortgage and the subordinate lien.
No Cash Back to Buyer: Buyers cannot receive cash back from the DPA proceeds, ensuring funds are used solely for the home purchase.
Follows FHA Guidelines: This program aligns with FHA guidelines, providing peace of mind regarding compliance and safety.

Is the FHA Fast 100+ Supreme Right for You?

This program is ideal for buyers who meet FHA credit and underwriting requirements but need a little extra help with the down payment. Whether you’re a first-time buyer or not, this program allows you to pursue homeownership with minimal out-of-pocket costs, flexible loan limits, and supportive payment options.

At MortgageNoDown.com, our goal is to match you with the best down payment assistance programs to meet your needs. Answer a few questions, and we’ll help you explore your options and find the support that’s right for you – so you can unlock the doors to your new home.

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Disclaimer: MortgageNoDown.com is an informational website. The content provided on this site does not constitute mortgage approval, loan offers, or financial advice. MortgageNoDown.com is not affiliated with any government program or agency. All information is provided as general guidance, and users should consult with a qualified mortgage professional for personalized assistance.