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Guild Zero Down Mortgage Program

Texas

Last verified
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Repayment

Forgivable

Forgiven once the program's conditions are met

What is Guild Zero Down Mortgage Program?

Guild Zero Down Mortgage Program is a forgivable loan for homebuyers in Texas.

  • Guild Mortgage's Zero Down program combines a 30-year fixed-rate FHA first mortgage covering 96.5% of the purchase price with a second mortgage that covers the 3.5% down payment requirement. The second mortgage can be structured as a 3.5% non-repayable DPA or a 3.5%/5% repayable lien. Available to first-time and repeat homebuyers purchasing a primary residence.
  • Zero down payment required.
  • Combines FHA first mortgage with repayable or non-repayable second mortgage.
  • Available to first-time and repeat homebuyers.
  • Fixed-rate loans only.
  • Funding comes from Private Lender.

Do you have to pay it back?

Guild Zero Down Mortgage Program is a forgivable loan, so the balance is forgiven once the program's conditions are met.

  • Repayment is triggered by Sale, Refinance, and No Longer Primary.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Guild Zero Down Mortgage Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 600 credit score
  • Citizenship or immigration status: yes

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

What kind of home can it be used for?

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

  • New construction is eligible.

Where does it apply?

Guild Zero Down Mortgage Program serves buyers purchasing anywhere in Texas.

How do you apply?

Applications for Guild Zero Down Mortgage Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Contact the administering agency to reserve funds

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

  2. 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 buyer can take it to a lender or housing counselor.

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