Now that we have explained how Down Payment Assistance works, let's see the numbers in action.
In 10 Years, the Jensen's buy out Noah's investment. Here are sample payoff scenarios, based on the future home values.
Future Home Value
Noah’s Down Payment Assistance
Mortgage Balance 1
The pricing estimate and associated terms presented above are for illustrative purposes only. Actual investment terms will be based on a full application and underwriting process that may include a credit check, home appraisal, income verification and other documents collected pertaining to the user and their underlying property.
1 The mortgage balance at the end of 10 years assumes a 30-year fixed mortgage with standard amortization. The actual mortgage balance for the homeowner at the time of payoff / end of the term may be different based on the terms and conditions of the mortgage.