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Loan Program

Down Payment Plus Program

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Is a Down Payment Plus Program right for you?

The Novus Home Mortgage Down Payment Plus Program can help eligible households with their down payment or other costs associated with the home buying process.

Mortgage Loan

Use The Grant Funds For:

  • Down payment and closing costs assistance
  • Escrow reserves deposited with lender for property taxes, insurance or monthly
  • assessments
  • Escrow for eligible rehabilitation costs directly associated with acquisition
  • Homeownership education and counseling costs if they meet eligibility requirements
  • Borrowers must invest at $1,000 of their own money into the transaction
  • Grant funds can be used with several of Novus’s 1st mortgage product offerings
  • Interest rate write down on mortgage

Down Payment Plus Program requirements

  • Income limits apply to this program
  • Primary residence home purchases only

Grant Amount

  • The maximum grant per eligible
  • household is the lesser of
  • $5,000 or
  • 3.5% of the purchase price
  • Grant is a forgivable 5-year grant

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No matter what your situation is, there is a home financing solution for you. We are ready to guide you through your options and get you the best deal possible!

Conventional

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FHA

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VA

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Down Payment Plus Program

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Renovation

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USDA

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