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Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program is a forgivable loan for homebuyers in Statewide, California.

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The program asks for

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (NAT260054). Lender-administered. Available nationwide. 3-year forgiveness on owner-occupancy.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

How to apply

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    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.

Questions about this program

What is Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program is a forgivable loan for homebuyers in Statewide, California. Forgivable lender-funded second. 3-year ramp. Pairs with FHA, Conv, VA, USDA. Up to 5% of loan amount as forgivable second mortgage. 3-year forgiveness term. Combines with FHA, Conv, VA, or USDA first. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Primary Residential Mortgage, Inc.

Do you have to pay it back?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program is forgiven after 3 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by sale or refinance within 3 years (otherwise forgiven). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (NAT260054). Lender-administered. Available nationwide. 3-year forgiveness on owner-occupancy.

What are the income limits?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program sets its income limit as follows: Per first mortgage program guidelines. The limit applies to total household income, not only the borrower’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.

What kind of home can it be used for?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Primary Residential Mortgage Inc. Welcome Home Down Payment Assistance Program is a nationwide program, so it is not limited to one state.

How do you apply?

Applications for Primary Residential Mortgage Inc. Welcome Home 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.

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Whether two programs can be combined is up to each agency. Ask before you apply.

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Program terms are set by the administering agency and can change; confirm on the official site before you apply.