0% Down Payment for Purchases

Down payment assistance programs are a valuable resource for home buyers across the country. To help you better serve your clients and grow your business, MCL offers an exclusive 0% Down Purchase program. This program provides qualified borrowers with a 3% down payment assistance loan, up to $15,000, allowing more borrowers to buy a home with no down payment.

How It Works:

  1. First lien mortgage meets LTV requirements.
  2. Second lien mortgage for 3% of the purchase price, up to $15,000.
  3. Second lien has no monthly payments and no interest.
  4. Second lien balance is due when the first lien loan is refinanced or paid off, whichever comes first.
  5. Payments on the second lien can be made anytime during the loan term, but are not required.

Borrower Qualification:

  • Income Requirements:
    • Borrowers must be at or below 80% of the Area Median Income (AMI) for the property’s address and meet Home Possible® guideline requirements.
    • Very-low-income borrowers (qualifying income at or below 50% AMI) receive a $2,500 credit as part of the 3% assistance. This credit does not need to be repaid and reduces their debt obligation from the second lien.
  • Credit and LTV Requirements:
    • 620+ FICO score and LTV must be equal to or greater than 95%, up to 97%.


  • First-Time Homebuyer Requirements:
    • At least one borrower must be a first-time homebuyer and meet HomeOne® guideline requirements.
    • A first-time homebuyer is defined as someone who has not had ownership interest in a home in the last 3 years.
    • 700+ FICO score and LTV must be greater than 95%, up to 97%.

Our 0% Down Purchase program is a powerful tool designed to benefit borrowers. This program is available until funds are depleted. For more details, call us at 786-622-2248 or Apply Now.