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MaxONE DOWN PAYMENT ASSISTANCE
The MaxONE Down Payment Assistance Program is designed to make homeownership more affordable by reducing or even eliminating the upfront costs of buying a home. With options that cover down payments and even closing costs, these programs are available to borrowers with credit scores as low as 620. Whether you need help lowering your initial monthly payments, want a true zero-down option, or need assistance with both down payment and closing fees, MaxONE offers flexible solutions to fit your needs.
Key Points:
Fast Underwriting
Flexible income verification
not available in New York or Washington
TAKE IT TO THE MaxONE
The MaxONE program offers an FHA loan with the option of a 2/1 buydown to lower initial payments, best suited for buyers with steady credit and income. MaxONE Plus provides true zero-down financing by combining a first and second mortgage, ideal for buyers who don’t have funds for a down payment but still meet credit requirements. MaxONE Home Assist goes further by covering not only the down payment but also up to 5% of closing costs, making it a strong choice for borrowers who need help with both upfront expenses
Why Choose a MaxONE Program?
| Feature | MaxONE | MaxONE Plus | MaxONE Home Assist |
|---|---|---|---|
| Down Payment | Yes | $0 | $0 (Extra 5% for closing) |
| Credit Score Min. | 620+ | 620+ | 620+ (AUS) / 660 (Manual) |
| Loan Type | FHA | FHA (Conventional options) | FHA |
| Special Perks | 2/1 buy-down | Combined loan | 101.5% CLTV (including closing costs) |
| DTI Max (Manual) | 45% | 45% | 45% |
MaxONE DOWN PAYMENT ASSISTANCE PROGRAMS
MaxONE
- Who’s it for? Homebuyers with a credit score of 620 or higher.
- What it offers: Traditional FHA loan support. If needed, you can get a 2-in-1 buydown for lower initial payments.
- Why it matters: Even with non-traditional underwriting (manual review), you only need a 45% debt-to-income ratio or less.
MaxONE Plus
- Who’s it for? Buyers with at least a 620 credit score.
- What it offers: A 100% combined loan; your first mortgage and a second lien are packaged together.
- The second lien comes with an interest rate roughly 2% higher than your first loan.
- It doesn’t require a down payment, applies to both conventional and high-balance limits, and works for purchase-only scenarios.
MaxONE Home Assist
- Who’s it for? Buyers looking to finance with minimal upfront costs.
- What it offers: An FHA loan with 101.5% financing—that’s 96.5% for your primary mortgage, plus an extra 5% toward closing costs.
- Great for 1-2 unit primary residences; there are no income or first-time buyer requirements.
- Financing is available for those with a 620 FICO score (via automated underwriting) or 660 (manual underwriting).
- Perfect for: Owners needing help with both their down payment and closing fees.
FAQ
Q: What type of bank statements do I need?
A: You can provide 12 or 24 months of personal or business bank statements. Personal deposits are counted at 100%, and business deposits at up to 85%.
Q: Can this program be used for investment properties?
A: Yes, this program is available for primary residences, second homes, and investment properties, including multi-unit properties.
Q: What are the maximum loan amounts and LTV limits?
A: Loan amounts are available up to 4 million dollars. LTV limits are up to 90% for purchases, 85% for rate-and-term refinances, and 80% for cash-out refinances.
Q: Is there a minimum credit score requirement?
A: Yes, a minimum FICO score of 600 is required.
Q: Can I use assets to help qualify?
A: Yes, assets such as investment accounts can be included to increase qualifying income.
Q: Are transfers from business accounts allowed?
A: Yes, transferring funds from business accounts to personal accounts is allowed for income verification purposes.
Let’s See What You Qualify For
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Legal Statements
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
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