Half Percent Down Payment Financing

Sample Scenario #1        Sample Scenario #2

Seller pays buyer's 3% closing costs            Buyer has down payment, seller won't pay closing
                                                                costs

Purchase Price:                $325,000            Purchase Price:                    $325,000
96.5% Ist Mortgage:         $313,625            96.5% 1st Mortgage:            $313,625
3% 2nd Mortgage:               $9,750            3.5% Down Payment:             $11,375
Required Down Payment:     $1,625            3% towards Closing Costs:       $9,750

Sample Scenario #3        Sample Scenario #4

Buyer has no money but gets a 5% gift        Buyer has $10,000 but can't qualify because
                                                                too much debt

Purchase Price:                $325,000            Purchase Price:                    $325,000
96.5% 1st Mortgage:        $313,625            96.5% 1st Mortgage:             $313,625
3% 2nd Mortgage:               $9,750            3% 2nd Mortgage:                    $9,750
Required Down Payment:     $1,625            Required Down Payment:          $1,625
Gift pays Down Payment:    -$1,625            Seller Pays 3% Closing Costs:   $9,750
Gift pays 3% Closing Costs:-$9,750            Buyer pays off debt:                 $8,375
Borrower comes in with no money              $1,625 + $8,375 =                  $10,000

Many other combinations, let's figure out how best to help you!