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Down Payment Assistance

Unlock the potential of your home equity and discover how refinancing can lower your monthly payments and save you money over time.

A little help can go a long way.

Luminate Bank is here to make your dream of homeownership a reality. With our down payment assistance program, we can help anyone get into the home of their dreams. We’ll work with you to help ensure that you get the right loan for your situation and budget. If you are a first-time homebuyer and are looking to put as little as 3% down, we have an option for you!

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How Down Payment Assistance Works

Our down payment assistance program allows for 0% down payment. We do this by offering borrowers a first lien FHA loan and a second mortgage to cover the 3.5% minimum contribution with low interest rates.

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As Little As 3% Down

You don’t need 20% down to get into a home. At Luminate, eligible borrowers can go as low as 3%.

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Available In All States

This down payment assistance program is available in all states. We truly mean we want everyone to be a homeowner!

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No Income Limits

There are no household income limits under a Conventional Standard program. That means if you're a first-time homebuyer or have lower income, this won't affect your ability to get assistance.

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Low Credit Score Options

You will need to meet minimum fico credit score of 640 and all other guidelines for the Conventional Standard or HomeReady® programs.

How to Qualify for Down Payment Assistance

There are two ways you can qualify for down payment assistance with Luminate. If you are a borrower with qualifying income that is less than or equal to 115% of your average median income, you can qualify for a deferred and forgivable second mortgage.


The second way to qualify is if you have greater than 115% of your average median income, which means you can have a non-forgivable and repayable second lien.


If you're unsure if you do qualify, all you have to do is get in touch with one of our loan officers, and someone will be happy to help!

Still unsure what options will work for you?

That’s okay—because our team is here to help guide you every step of the way. We don’t want you to feel left out in the dark, but instead to have complete clarity and transparency throughout your entire loan process.


Here at Luminate Bank, we truly believe in our mission and core values. We focus on people like you because we understand that character does count. We stay humble and work hard so that the lending process stays approachable and transparent every step of the way.

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