0% Down Mortgage

We offer an exclusive 0% Down Purchase program. Simply put, qualified borrowers receive a 3% down payment assistance loan, up to $15,000.



Here's how it works:

  • First lien mortgage meets LTV requirements
  • United Wholesale Mortgage provides a second lien mortgage for 3% of the purchase price, up to $15,000
  • Second lien has no monthly payment requirement and no interest
  • Second lien balance is due when the first lien loan is refinanced or paid off, whichever comes first
  • Payments on the second lien can be made throughout the loan term, but are not required

How borrowers can qualify:

  • Borrowers must be at or below 80% of the Area Median Income (AMI) for the address of the property they are buying and meet Home Possible® guideline requirements
    • For very-low income borrowers whose qualifying income is at or below 50% AMI (VLIP borrowers), they will receive a $2,500 credit as part of the 3% assistance
      • This credit does not need to be repaid by the borrower and lowers their debt obligation from the second lien
    • 620+ FICO and LTV must be equal to or greater than 95% LTV, up to 97%



  • At least one borrower must be a first-time homebuyer and meet HomeOne® and UWM’s guideline requirements
    • First-time homebuyer is defined as someone who has not had ownership interest in a home in the last 3 years
    • 700 FICO and LTV must be greater than 95%, up to 97%

Information subject to change. Certain restrictions apply. Subject to approval of borrower and investor guideline requirements. Down payment is provided as a 2nd lien against the subject property. 2nd lien bears a 0% interest rate and cannot exceed a $15,000 loan amount. 2nd lien has no minimum monthly payment requirements, a term of 360 months and is fully due as a balloon payment upon the occurrence of either a refinance of the 1st lien, payoff of the 1st lien or the final payment of the amortization schedule of the 1st lien. Borrower must qualify based on Home Possible® or HomeOne® guidelines. Some exclusions may apply. The principal, interest, and MI payment of a $350,000 30-year Fixed-Rate Loan at 6.75% and 97% loan-to-value (LTV) is $2270.09. The Annual Percentage Rate (APR) is 6.949% with estimated finance charges of $6,500. The principal and interest payments, which will continue for 360 months until paid in full, do not include taxes and home insurance premium, which will result in a higher actual monthly payment. Rates current as of 5/20/24. Subject to borrower approval. Some exclusions may apply.




Elm Tree Funding, LLC is a Mortgage Broker licensed by the Connecticut Department of Banking, Consumer Credit Division, NOT A LENDER OR A CORRESPONDENT MORTGAGE LENDER

NMLS # 110851/ Verify our license at:www.nmlsconsumeraccess.org

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