Borrowed Down Payment

Makes it possible for borrowers who cannot save a required down payment to start building equity now.
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Help Customers Start Building Equity Now

This program allows qualified borrowers to contribute to their down payment with sources that are arm’s-length to the purchase of a home, such as personal loans, lines of credit, credit cards, or gifts from non-immediate family members.

Standard Premium Rate Chart

LTV Ratio Premium Rate Top-Up Premium
Up to 65% 0.60% 0.60%
65.01% - 75% 1.70% 5.90%
75.01% - 80% 2.40% 6.05%
80.01% - 85% 2.80% 6.20%
85.01% - 90% 3.10% 6.25%
90.01% - 95% 4.00% 6.30%

Eligible Products

  • Progress Advance Program
  • Purchase Plus Improvement Program
  • Vacation / Secondary Homes Program (Type A Properties)

Eligibility

  • Any repayment of funds must be included in the total debt service calculation
Underwriting Policies and Standards thumbnail with Sagen logo

Learn more about this program in the Underwriting Policies & Standards (UPS)

View details