Home Buyer FAQ: What Are the Benefits of TSAHC’s Forgivable Second Lien DPA?
TSAHC's forgivable second lien down payment assistance (DPA) is with 0% interest and no monthly payments due. This assistance is forgiven, in full, upon the third anniversary of the date of the loan. It is repayable, in full, during the three-year term upon sale, transfer or refinance.
Details about the forgivable second lien assistance option:
- 3-5% DPA
- Government and conventional loan types available
- Lower interest rate on the first lien mortgage loan
- No additional fees
- 620+ FICO credit score required
- You do not have to be a first-time home buyer to qualify
To compare DPA options, click here.