Down Payment Assistance Program

Down Payment Assistance Program

~Wright Mortgage is a locally owned and operated mortgage company. We know that each customer has specific needs, so we strive to meet those needs with a wide array of services. Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. The interest rate for this program is always 4.875%, and it is a 30 year fixed loan. The buyer take a home buying seminar class online after being approved, also there are no strings attached to this program. This is a great program! The buyer only pays 0.5% and the 3% comes from a down payment assistance program. There are no concerns if the down payment will be there or if the funds are out. The lender send their own money when we receive the clear-to-close for your client. The borrower must have good credit, a owner occupied property and the household cannot make more than $76,400.00 a year in Harris and Fort Bend Counties.

Program Highlights

  • Minimum 0.50% from the borrowers own funds cannot be gifted.
  • Minimum 640 FICO .
  • DTI not to exceed 45%.
  • Income limits restrictions
  • Not limited to first time home buyers.
  • Home price cannot exceed $250,200