LoanDepot Cash-Back Incentive Program

What is LoanDepot Cash-Back Incentive Program?

LoanDepot Cash-Back Incentive Program is a grant for homebuyers in Texas.

• loanDepot's mellohome Grand Slam cash-back incentive program provides homebuyers with up to $3,500 in cash back post-closing when they purchase using a mellohome network real estate agent and finance with loanDepot. First-time homebuyers can receive an additional $1,000. This is a realtor rebate/incentive program, not a traditional down payment assistance grant.
• Up to $3,500 cash back.
• Additional $1,000 for first-time homebuyers.
• Up to $7,000 when buying and selling.
• $1,000 on-time closing guarantee payment.
• Funding comes from Private Lender.

Do you have to pay it back?

LoanDepot Cash-Back Incentive Program is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

LoanDepot Cash-Back Incentive Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What kind of home can it be used for?

LoanDepot Cash-Back Incentive Program can be used for Single-family.

• New construction is eligible.

Where does it apply?

LoanDepot Cash-Back Incentive Program serves buyers purchasing anywhere in Texas.

How do you apply?

Applications for LoanDepot Cash-Back Incentive Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Contact the administering agency to reserve funds

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

2. 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.