Lakeview No MI with Springboard Community Seconds

The Lakeview Springboard product is a fixed-rate conforming and conforming Jumbo first mortgage, with an interest-only second mortgage, to assist with down payment and closing costs.

Highlights & Terms

  • 30-year second mortgage
  • Up to 4% of the appraised value or purchase price (whichever is less) to be used towards down payment and/or closing costs
  • Second mortgage proceeds may be used to fund up to 100% of the cash to close
  • No minimum borrower contribution
  • No Mortgage Insurance required

Guidelines & Consideration

  • Homebuyer Education required for all borrowers
  • Minimum credit score 660
  • Purchase of primary residence only
  • Income limits apply
  • LTV > 95.01% at least one borrower must be a first-time home-buyer
  • The second lien is due and payable at sale, refinance, payoff
  • The following states are not eligible: Delaware, Washington DC, Maine, Michigan, New Hampshire, South Carolina and West Virginia

READY TO GET STARTED?

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