Are you looking for a jumbo mortgage putting only 5% down?

Did you know?

The No Money Down Mortgage Has Finally Arrived! Our Grant Is Available To Be Applied To Your Down Payment & Closing Cost. Purchase Your New Home With Nothing Down! Get Up To 3.5% Of The Sales Price.

Let us know how to reach you

By submitting your contact information you agree to our Licensing Disclaimer, Terms of Use and Privacy Policy. You also expressly consent to having Paramount Residential Mortgage Group, Inc. dba Mortgage Guru (“Guru”) contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Guru or its affiliates. By communicating with us by phone, you consent to calls being recorded and monitored.

Frequently Asked Questions

That is ok! This grant is up to 3.5% of the sales price. This will cover your down payment for the FHA program. A $300k sales price would be a $10,500 grant.

You can use this grant with the FHA & USDA programs.

This program is available in 48 states! Not available in Washington or New York.

These programs are available in all of Texas.

The second mortgage is due and payable upon sale, refinance, or payoff of the first mortgage if the balance is not paid off. There will be a monthly payment on the grant balance.

  • 10 year term.
  • The note rate of the grant is 2% above the first lien rate amortized over 10 years.
  • 10-year amortizing loan with monthly payments.
  • For a $300k FHA loan with a 3.5% down payment of $10,500 and a current rate of 6%, the $10,500 grant payment will be 8% or $127/month over 10 years.

You must have a 580 mid credit score or higher to qualify.

Yes, your income needs to be less than 160% of your area median income. We can help find that amount in your area extremely fast. For example, in Austin, Texas, the state median income is $110,300, so 160% of that is $176,480. We can now get exceptions for any income amount! No more area median income restrictions.

Yes! Fannie Mae has lowered their required down payment for owner-occupied, multi-family (2-4 unit) properties from 15%-25% to 5%. This means you can buy a property with 5% down, live in one unit, and rent out the other 1-3 units.

In Texas, the max loan amounts for 2024 are below:

  • One: $726,200
  • Two: $929,850
  • Three: $1,123,900
  • Four: $1,396,800

CORP NMLS# 237341. American Financial Network, Inc. is licensed by the California Department of Business Oversight under the California Financing Law License (6038771) and holds a CA Bureau of Real Estate, Real Estate Broker’s License (01317581) under Nationwide Mortgage Licensing System (NMLS), unique identifier of 237341. Broker is performing acts for which a license is required. Loans made or arranged pursuant to California Financing Law. Refer to and input NMLS #237341 to see where American Financial Network, Inc. is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only. Products not available in all areas. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580. American Financial Network, Inc. is an Equal Housing Lender.

Privacy Policy | License