Guild Mortgage Zero Down Mortgage Program

Guild Mortgage Zero Down Mortgage Program is a deferred second loan for homebuyers in Statewide, California. $7,500 second-lien DPA. Combined with HomeReady/Home Possible 97% first = 0% effective down payment. Repayable second. Up to $7,500 in DPA structured as second-lien down payment loan + Fannie Mae HomeReady or Freddie Mac Home Possible first mortgage. Total 0% borrower down possible for FTHB at LMI tracts. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Guild Mortgage.

Guild Mortgage Zero Down Mortgage Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by sale, refinance, or end of term. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Guild Mortgage Zero Down Mortgage 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 (NAT250036). Restricted to first-time homebuyers at <= 120% AMI in census tracts identified as 'majority-Black or majority-Hispanic.' Pairs with HomeReady or Home Possible.

Guild Mortgage Zero Down Mortgage Program limits household income to 120% of the area median income, which varies by county and household size. At or below 120% area median income (in eligible majority-Black/Hispanic tracts). 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.

Guild Mortgage Zero Down Mortgage Program can be used for Single-family, Condo, Townhouse.

Guild Mortgage Zero Down Mortgage 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 Guild Mortgage Zero Down Mortgage 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.