Reported 5 months ago
United Wholesale Mortgage, one of the largest U.S. lenders, launched a program allowing first-time home buyers to purchase homes without a down payment if they meet certain criteria. The program offers a second-lien loan of up to $15,000 for down-payment assistance, with no interest or required monthly payments. However, experts caution borrowers to understand the terms, as the second loan must be paid in full under specific circumstances to avoid foreclosure. The initiative aims to help more people achieve homeownership but requires careful financial planning.
Source: YAHOO