Platinum Down Payment Assistance Program
HIGHLIGHTS
Three types of loans –

FHA 30-year fixed rate first mortgage – Daily priced through First Nationwide Mortgage

  • 20-year amortizing 2nd mortgage @8.75%
  • 120% of Area Median Income
  • Up to 6% of Sales Price

2. USDA-RD

  • Priced daily through First Nationwide Mortgage
  • 100% Financing
  • No Mortgage Insurance
  • No Purchase Price Limit
  • Up to 6% of Sales Price for 2nd
  • 115% of Area Median Income
  • No cash reserves

3.  FannieMae 97 1% Down

  • Up to 6% of Sales Price for 2nd
  • 1% from Homebuyer’s resources
  • Greater of 140% Area Median Income or $66,460
  • Lender Training required by FannieMae (call CalRural for training)