Tagged: DPA, DPA PROGRAM, EPM, EPM DPM MORTGAGE, epm-dpm-mortgage, fha
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HOW DOES EPM EMPOWERED DPA PROGRAM WORK?
Posted by Julio on September 25, 2023 at 6:37 pmHow does EPM EMPOWERED DPA and GRANT PROGRAM work? How do I qualify for the EMPOWERED DPA PROGRAM for first time homebuyers?
Gustan replied 11 months, 4 weeks ago 2 Members · 4 Replies -
4 Replies
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There’s a recent article updated on FHA STREAMLINE REFINANCE LENDERS about the EPM EMPOWERED DOWN PAYMENT ASSISTANCE HOME PURCHASE PROGRAM posted live this morning. EQUITY PRIME MORTGAGE offers a full DOWN payment assistance program and grant on FHA LOANS. The 3.5% down payment is fully forgivable after six months. What does the forgivable on FHA DPA PROGRAM mean? You can sell, or Refinance your home and don’t have to pay the 3.5% down payment you got back. Gustan Cho Associates offers the EPM EMPOWERED DOWN PAYMENT ASSISTANCE MORTGAGE PROGRAM in 48 states. Not available in Washington State. The maximum debt to income ratios is 48.99% with no front end debt to income ratio cap. It is borrower paid and homebuyers need to get a 6% seller concessions for lender origination fees and closing costs. Read more about the EPM DPA MORTGAGE PROGRAM at https://fhastreamlinerefinancelenders.com
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Mortgage Rates on EPM EMPOWERED DPA PROGRAM is higher than traditional FHA loans. Currently the DPA PROGRAM Rates is at 7.75%. You cannot buy down the rates.
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We do have two other down payment assistance mortgage programs that debt to income ratio goes up to 46.9% front end and 56.9 back end. The down payment assistance funds is not forgivable and needs to get paid once you refinance or sell the house. They are all FHA loans.