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Use Lender Paid Compensation with National Homebuyer’s Fund DPA

Use Lender Paid Compensation with National Homebuyer’s Fund DPA

Rebecca Squyres

May 23, 2023

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Great news on the National Homebuyer’s Fund (NHF) Down Payment Assistance Program (DPA)

GMFS will now allow Lender Paid Compensation under the program to further benefit your borrowers.

We have seen a lot of success with this program, highlights include:

  • FHA with CLTV 100%
  • FHA 1st Lien 96.5%
  • DPA 2nd Lien 3.5%
  • Funds can be used for down payment
  • Funds can be used for closing costs
  • Minimal overlays to your standard FHA program
  • No First Time Homebuyer Requirement
  • DU Only
  • Only available on brokered loans
  • Brokers must use Disclosure Desk– If you do not select for GMFS to disclose the produce will show ineligible with the following reason: This Product is only available if disclosed by GMFS.

If you need to make a change to your original disclosure selection please contact [email protected] or [email protected] to update your loan.

Guides and Tools:

  • NHF Broker Process
  • DPA NHF Training
  • DPA NHF Guidesheet- 10 year Amortization
  • DPA NHF Guidesheet – Forgivable
  • Disclosure Desk

This Product is only available if disclosed by GMFS. If you need to make a change to your original disclosure selection please contact [email protected] or [email protected] to update your loan.

 

Tags: dpa, lender paid, nhf

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About GMFS

We are one of the fastest growing mortgage companies in the United States offering great mortgage financial solutions. Headquartered in Baton Rouge, Louisiana, GMFS originates residential mortgage loans, primarily in the southern states. Founded in 1999, GMFS has approximately 250 employees. more about GMFS

GMFS Mortgage is a BBB Accredited Mortgage Lender in Baton Rouge, LA
Equal Housing Lender. © 2017 GMFS, LLC. Upfront approval subject to satisfactory property review and no change in financial condition. Some products may not be available in all states. All loans subject to credit approval. All mortgages are originated by GMFS LLC at 7389 Florida Blvd. Suite 200A Baton Rouge, LA 70806. NMLS #64997. LA License 619. The retail division of GMFS LLC is Doing Business As “GMFS Mortgage”.

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