CrossCountry Mortgage Smart Start Down Payment Assistance Program

CrossCountry Mortgage Smart Start Down Payment Assistance Program is a forgivable loan for homebuyers in Statewide, California. Forgivable lender-funded second mortgage. 5-year forgiveness term. Combines with conventional first mortgage. Up to $4,000 forgivable second mortgage (forgiven over 5 years) for first-time homebuyers in underserved communities. Lender-funded SPCP. This is a nationwide program, so it is available beyond a single state or city. Funding comes from CrossCountry Mortgage.

CrossCountry Mortgage Smart Start Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by sale or refinance within 5 years (otherwise forgiven). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CrossCountry Mortgage Smart Start Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (NT20250027). Restricted to LMI borrowers (<= 80% AMI) or properties in majority-Black/Hispanic census tracts. Forgiven over 5 years of owner-occupancy.

CrossCountry Mortgage Smart Start Down Payment Assistance Program sets its income limit as follows: At or below 80% AMI; or property in majority-Black/Hispanic census tract. At or below 80% AMI; or property in majority-Black/Hispanic census tract. The limit applies to total household income, not only the borrower&rsquo;s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

CrossCountry Mortgage Smart Start Down Payment Assistance Program can be used for Single-family, Condo, Townhouse.

CrossCountry Mortgage Smart Start Down Payment Assistance Program is a nationwide program, so it is not limited to one state. The program targets specific areas: Majority-Black or majority-Hispanic census tracts.

Applications for CrossCountry Mortgage Smart Start Down Payment Assistance Program go through the administering agency. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.