The South Carolina-based company just launched the Movement Assistance Program (MAP), wherein qualified borrowers may be granted with up to 3% of a home’s price along with 97% conventional financing.
The program includes a non-repayable down-payment grant from the company and a 30-year conventional loan. The grant does not need to be repaid and has no second loans, liens or promissory notes.
Those who qualify will also gain access to job-loss insurance coverage for non-self-employed borrowers for two years, and up to six months of mortgage payments of $1,500 max due to involuntary unemployment.
"MAP will help more families become homeowners by providing assistance with the upfront costs of home buying," said Casey Crawford, Movement Mortgage co-founder and chief executive. "This is a program our entire Movement community takes great pride in offering. It's one more way we are leading a Movement of Change in our industry and communities."
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First-time homebuyers with limited funding can now turn to Movement Mortgage for aid with their down payments, according to a news release.