48 Meriden Rd, Suite 1, Middlefield, CT 06455

Unlock Homeownership with Our 0% Down Purchase Program

At Northeast Financial, we know how challenging it can be to save up for a down payment on a home. That’s why we’re excited to offer our exclusive 0% Down Purchase program, designed to help you achieve your dream of homeownership with no initial down payment required.

How It Works

Our 0% Down Purchase program offers a 3% down payment assistance loan, up to $15,000. Here’s what that means for you:

  • Primary Mortgage: You’ll get a standard mortgage for the majority of your home’s purchase price.
  • Secondary Mortgage: We provide an additional loan for 3% of the purchase price, up to $15,000, to cover your down payment.
  • No Monthly Payments or Interest: The second loan doesn’t require monthly payments and doesn’t charge interest.
  • Repayment: You’ll only need to pay back the second loan when you refinance or pay off your primary mortgage. You can make payments on this loan at any time, but it’s not required.

Who Can Qualify?

We offer not one but two ways to qualify for this program:

Option 1: Income-Based Qualification

  • Income Requirement: Your income must be at or below 80% of the Area Median Income (AMI) for the area where you’re buying the home.
  • Extra Credit for Very Low-Income Borrowers: If your income is at or below 50% of the AMI, you get a $2,500 credit as part of the 3% assistance, which you don’t have to repay.
  • Credit Score: Minimum 620
  • Loan-to-Value (LTV) Ratio: Your primary mortgage must cover 95% to 97% of the home’s value.
  • Note:  Not Eligible to be combined with an FHA 1st Mortgage

Option 2: First-Time Homebuyer Qualification

  • First-Time Homebuyer: You must be a first-time homebuyer, which means you haven’t owned a home in the past three years.
  • Credit Score: Minimum 700
  • Loan-to-Value (LTV) Ratio: Your primary mortgage must cover 95% to 97% of the home’s value.
  • Note:  Not Eligible to be combined with an FHA 1st Mortgage

Why Choose This Program?

Our 0% Down Purchase program is designed to make buying a home more accessible and affordable. By covering your down payment, we make it easier for you to become a homeowner without having to save up a large sum of money upfront.

Get Started Today

To learn more about how our 0% Down Purchase program can help you buy a home, contact us at Northeast Financial. We’re here to guide you through the process and answer any questions you have.

Ready to take the next step towards homeownership? Get in touch with us today and discover how we can help you achieve your dreams with our 0% Down Purchase program.

Ready to Get Started?  

Answer a few quick questions below and we will have you on your way!!!

(844) 788-7237

117273, MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER.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.