Zero Money Down Conventional Financing Options Are Here! (Spring 2024)

Josh Schoenly, dual-licensed with EXP Realty and Nexa Mortgage, brings exciting news to potential homebuyers and real estate professionals. A new product from United Wholesale Mortgage offers a zero down conventional mortgage option. This innovative financing solution aims to make homeownership more accessible, especially for those who have faced challenges saving for a down payment.

What is Zero Down Conventional Financing?

The new zero down conventional mortgage option provides qualified borrowers with a 3% down payment assistance loan of up to $15,000. This assistance allows borrowers to purchase a home with no down payment, subject to specific qualifications and guidelines.

How It Works

  1. Qualified Borrowers: Must meet loan-to-value (LTV) requirements.
  2. Down Payment Assistance: UWM offers a second lien mortgage for 3% of the purchase price, up to $15,000. The second lien has no monthly payment requirement and no interest, and the balance is due when the first lien loan is refinanced or paid off.

Borrower Qualifications

  • Must be at or below 80% of the Area Median Income (AMI) for the property address.
  • Meet Home Possible guideline requirements.
  • Have a FICO score of 620 or higher.
  • LTV must be equal to or greater than 95% and up to 97%.
  • Alternatively, one borrower must be a first-time homebuyer, defined as someone who has not had ownership interest in a home in the last three years.

Special Benefits

For very low-income borrowers with qualifying income at or below 50% of the AMI, they will receive a $2,500 credit as part of the 3% assistance. This credit does not need to be repaid and lowers their debt obligation from the second lien.

Using the Program to Generate Conversations

Josh emphasizes that this program is an excellent way for real estate professionals to spark conversations with potential clients. Whether through social media, email, text, or phone calls, this special financing program can be a powerful tool to generate interest and start discussions about home buying opportunities.

Marketing Tips

Josh suggests making a list of people to reach out to, especially those who were previously pre-approved but faced challenges due to down payment issues. Use personal communication methods like calls, texts, emails, or direct messages on social media to inform them about this new opportunity.

Availability and Contact Information

Currently, there is no deadline for the availability of this program, but it is subject to change based on the lender’s decisions. Josh encourages real estate professionals to act quickly and start conversations with their clients.

For more information or to refer clients, contact Josh Schoenly via his provided contact details or visit his website at josh.com. He also offers co-branded mortgage application links to make it easy for clients to get started with their applications.


This zero down conventional financing option is a game-changer for many potential homebuyers. By leveraging this program, real estate professionals can help more clients achieve their dream of homeownership.

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