HEART Loan Program
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 $726,525.
- HEART offers a 15-year, below market rate second lien downpayment loan of up to $136,223.
- Maximum purchase price for this combination, together with 5% downpayment from the borrower, is $908,156.
- 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
Full program details are available at www.heartofsmc.org
Copyright 2021 Meriwest Mortgage Company, LLC. All rights reserved. Meriwest Mortgage Company, LLC is licensed in California by the Department of Financial Protection and Innovation (DFPI), License #4150034, pursuant to Financial Code Section 50121 and 50130(f) of the California residential Mortgage Lending Act and in Arizona by the Arizona State Banking Department, License #BK0904975. We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act. Membership in Meriwest Credit Union may be required with a one-time, non-refundable $5 fee. Meriwest Credit Union is Federally Insured by NCUA.
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You can also call us at 877-MERIWEST (877) 637-4937