Downpayment assistance loans for first-time homebuyers in San Mateo County
Meriwest Mortgage and HEART of San Mateo County (heartofsmc.org) have created a unique loan package that is not offered by any other lender. Our goal is to help you purchase a home with 5% down payment and no PMI (Private Mortgage Insurance).
How does it work?
- HEART partner Meriwest Mortgage offers a 30-year, conforming or high-balance fixed-rate loan of up to $970,800.
- HEART offers a 15-year, below market rate second lien downpayment loan of up to $182,025.
- Maximum purchase price for this combination, together with 5% downpayment from the borrower, is $1,213,500.
- Borrower is not required to buy private mortgage insurance (PMI) which can cost thousands of dollars annually. This results in significant savings to the homebuyer.
- View Qualifications
Please contact Marlyn Sylva, Meriwest Mortgage & HEART Consultant, for additional information: Email: msylva@meriwest.com | Office: 408-363-3464 | Cell: 408-461-0911 (Call/Text). Full program details are available at www.heartofsmc.org
People Usually Ask
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How can I access my Mortgage account?
You can access your Mortgage account by logging in to Online Banking.
Manage your accounts anytime with Online BankingOnline Banking from Meriwest is account management that fits your lifestyle and your schedule. You can review all your account balances, transfer funds between accounts, pay bills, and much more! Plus, it's FREE and available 24 hours a day, seven days a week.
Visit our Online Banking page to learn more or enroll today!
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Can I apply for workout assistance on all my loans If I have more than one?
Yes, we will review each workout request independently and a decision will be determined depending on loan factors.
Meriwest Credit Union's Hardship Assistance Team ("HAT") is available to provide assistance to members who are experiencing financial difficulty with their Meriwest consumer and real estate loans and wish to avoid foreclosure. We will make every effort to assist you with your loan and avoid foreclosure, including arranging a loan modification.
Visit our Loan Hardship Assistance page to get started today.