Loan Option 1: Cash Advantage
The borrower gets a competitive interest rate on their home loan along with cash equal to 3% of their loan amount. The cash assistance will help reduce the total closing costs needed to buy the home. Borrowers cannot use Cash Advantage funds for the minimum investment required for an FHA Loan.
Loan Option 2: Rate Advantage
The borrower maximizes their buying power with a competitive interest rate and a lower monthly payment.