Pilgrim Mortgage exclusive
HomeAccess
Pilgrim Mortgage HomeAccess
For a lot of people, it’s not the monthly payment. It’s the down payment. Saving up thousands of dollars while you’re paying rent can feel impossible. At Pilgrim Mortgage, we understand that reality - and it’s exactly why we offer HomeAccess, our exclusive Down Payment Assistance program.
how it works:
Get approved for an FHA Loan for your home. It will be a 30yr, fixed-rate loan.
Then, HomeAccess gives you a second loan that covers your down payment.
Pick your Amount
The 3.5% option covers the minimum down payment on an FHA loan.
The 5% option covers the minimum down payment on an FHA loan, but goes a little further and can help with other costs too.
Pick your Repayment Terms
Option One: Forgivable
This is available for the 3.5% assistance loan, with no interest and no monthly payments. Make 36 on-time payments in a row on your main mortgage, and you can ask to have the assistance forgiven. That means you don’t pay it back.
Option Two: Repayable
This one is available for both the 3.5 or 5% assistance loan. You pay it back over 10 years with a fixed interest rate that’s a bit higher than your main mortgage. It adds a small monthly payment, but it’s paid off in 10 years.
& even more good news…
HomeAccess doesn’t have income limits and you don’t have to be a first-time homebuyer.
You can also use the program for a duplex, not just a single-family home - as long as it’s your primary residence.
AND a family member can co-sign with you… even if they aren’t living with you.
Don’t let the down payment be the thing that keeps you from owning a home. Want to find out if Pilgrim Mortgage’s HomeAccess is right for you?