Introducing Home Advantage, a Nationwide Zero Down FHA Mortgage1
Prosperity Home Mortgage, LLC (Prosperity), has recently launched a new down payment assistance (DPA) program known as Home Advantage. Home Advantage offers eligible home buyers a financing option that requires no money down, and the program is now available in markets across the country!
In a housing market with tight inventory, Home Advantage may create an opportunity for not only first-time buyers, but also sellers who are planning to purchase their next home, as well.
“As a mortgage company, we’re committed to offering new loan programs designed to serve a wider range of home buyers,” said Tim Wilson, president and CEO of Prosperity. “We understand that the combination of a down payment and closing costs can be a big financial obstacle to many would-be home buyers. These programs are designed to help diminish or eliminate that obstacle, so our clients can focus on other matters related to buying a home, such as planning their move.”
Used in combination with a FHA first mortgage, Home Advantage offers down payment assistance as a second mortgage up to 5 percent of a home’s purchase price, which helps buyers cover the down payment and closing costs to purchase a home.
Home Advantage features:
- Zero down payment required2
- No first-time home buyer requirement
- No income restrictions
- No geographic restrictions
- DPA second mortgage is fully forgiven after five (5) years3
- DPA has a zero percent interest rate and no monthly payments
- DPA is available with the purchase of a primary residence through FHA.
“We have built a reputation for providing the highest quality of service and support to our customers,” said Wilson. “We take pride in offering some of the most competitive loan products in the market, and we look forward to serving even more customers with Home Advantage."
Remember, we offer a wide variety of loan programs. A low-or-no-down payment option may not be the best option for all borrowers, so be sure to contact your mortgage consultant review potential loan scenarios and financing options to determine the home loan that is right for you.