Sentences with phrase «silent second mortgage»

The City of Elk Grove and other non-profit organizations use the silent second mortgage as a method to make home affordability a reality.

-- CalHOME — A Mortgage Assistance Program offers a 10 % silent second mortgage for first time home buyers.

-- CalPLUS w / ZIP — provides 3.5 % down payment assistance silent second mortgage that is deferred at 0 % for life of the loan.

This could be a single mortgage insured through mortgage insurance, or you may qualify for a silent second mortgage, due when you sell.

As of July 1st the program will offer a 30 year 0 % silent second mortgage for 3.0 % of the loan balance plus $ 6,500.

Or perhaps the buyer borrows the down payment from the seller and does a silent second mortgage to pay it back.

State and local housing finance programs: States and communities may offer programs providing first - time buyers with silent second mortgages for funding closing costs and down payments.

Not exact matches

These second mortgage loans are typically provided at low rates and may be «silent,» which means they require no payments until you vacate or sell your home.

State and local housing agencies may offer «silent» second mortgages or grants for covering all or part of your closing costs and down payment.

Silent mortgages are risky for Sellers, because these loans are unrecorded second mortgages that may not be enforceable if the buyer stiffs the seller.

These programs typically lend money as a «silent» second mortgage which requires low or no no payments until you vacate the home you're buying.

HUD holds a second «silent» mortgage on the home for 50 % of the listed price.

Silent seconds, low LTV lending, mortgage insurance, and other means of getting people into housing that they couldn't afford looked like like the pinnacle of success for US housing policy.

Both assistance loan programs are 30 year fixed rate first mortgages combined with the ZIP 0 % deferred interest silent second assistance loan.