Dream House Down Payment Assistance Program

ISRAEL SALAS, LOAN OFFICER
MANUEL REYES, LOAN OFFICER ASSISTANT

Israel Salas

CHAMPIONS MORTGAGE

THE SALAS LENDING TEAM
Champions Mortgage Dark Logo

DREAM HOUSE DOWN PAYMENT ASSISTANCE PROGRAM

Dream House Foundation saw the struggles that today’s homeowners deal with and in effort to serve the community, Dream House Foundation wanted to give families and individuals a chance to own a home. Dream House Foundation created a unique 3.5% Grant Down Payment Assistance Program for all qualified FHA Home Buyers.

Dream House Foundation, is passionate about the community and our program helps potential home buyers with down payment assistance, allowing home ownership to a wider audience of buyers from diverse communities. Dream House Foundation saw a void in the market and is poised to capitalize on this opportunity, by giving back to communities nationwide.

HIGHLIGHTS

TRUE GRANT

No Repayment.
No Recapture.

DTI

55% DTI
or DU Approval from the Participating Lender.

FICO SCORE

620 Minimum Fico Score.

USES

For Down Payment and/or Closing Cost.

LIENS

No liens on title.

ELIGIBILITY

Borrower(s) are automatically eligible for the grant, once approved by the lender.

HIGHLIGHTS

2ND MORTGAGES

No silent second mortgage/or second mortgages.

REFINANCES

Refinance after 6 months is okay.

INCOME LIMITS

Increased in income limits to 140% of the area median income.

MULTI UNITS

1-4 Units are accepted

LIENS

No liens on title.

HIGH BALANCE

High Balance is accepted.

HIGHLIGHTS

STATES

Nationwide Program.

ELIGIBLE BUYERS

Not limited to first-time home buyers.

EQUITY

Borrower immediately has equity in their property, since this is a grant.

UNDERWRITING

No additional underwriting necessary