FlexDown

Providing you with more flexibility with down payment sources


What is the FlexDown Mortgage Product?

Through Approved Lenders, FlexDown allows prospective homebuyers to purchase a home with as little as a 5% down payment. This program is an amazing tool for those whose down payments come from non-traditional sources. For example, this program would allow your down payment to come from an existing loan or line of credit.

THINGS TO KNOW

  • Available for purchase transactions

  • As little as a 5% down payment from a borrowed funds.

  • Minimum beacon score of 650.

  • Same income qualification as traditional financing.

  • Flexibility available to use in addition to the Energy Efficient Home or Purchase Plus Improvements products.

  • Cannot be used if you own other properties.

BENEFITS

  • Helps provide earlier access to homeownership

  • Flexible down payment options: a wider range of accepted down payment sources from lines of credit to personal loans.

  • Competitive interest rates through access to insured financing

  • Available from coast-to-coast from no set maximum loan amount.