Down Payment Assistance programs – If it’s out there, we know about them, we’ll keep updated on all the down payment assistance programs that are available, ask your InterCap Funding loan officer for this information.
Down Payment Assistance programs – If it’s out there, we know about them, we’ll keep updated on all the down payment assistance programs that are available, ask your InterCap Funding loan officer for this information.
There are four main types of down payment assistance:
Grants: Gifted money that never has to be repaid
Loans: Second mortgages that are paid monthly along with your primary mortgage
Deferred loans: Second mortgages with deferred payments that only have to be paid when you move, sell, or refinance
Forgivable loans: Second mortgages that are forgiven over a set number of years (often five, but maybe up to 15 or 20). These only need to be repaid if you move, sell, or refinance too early.