Signature Real Estate

MMRP $15k Down Payment Assistance
The MMRP DPA purchase assistance deferred/forgivable loan helps prospective homeowners with their down payment. The criteria for this program is as follows:

▪ Provides down payment grant to first-time home buyers of $15,000 to purchase a property within a MMRP Target Area;
▪ Must attend a HUD certified 8-hour Homeownership Workshop & Landlord Training for 2-4 flat property;
▪ Household must occupy the property as a primary place of residence (with minimum 5-year recapture period);
▪ Must be a 1-4 unit property, including condos;
▪ Household Income up to 120% AMI
▪ MMRP DPA will take a 3rd position lien and is a layer able product
▪ Conventional Loans Only (No FHA)

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