Learn about Intercap Lending FHA .5% Down Payment Assistance Program
Provides Grant funds of 3% of the Mortgage Amount (Note Amount) to be used towards the down payment, for the purchase of a primary residence.
Borrower’s down payment requirement reduced to .55% of the purchase price.
No repayment required, and no subordinate lien is recorded, Grant funds are treated as a gift. Program is not limited to first time buyers.
No separate approval process required. Borrower’s eligibility determined at time of underwriting.
Standard FHA underwriting guidelines apply.
Grant Funds are wired to closing, no separate funding required.
