New program offers 3.5% or 5% in down payment assistance, with both forgivable and repayable options, empowering lender partners to help more families achieve homeownership
Panorama Mortgage Group has launched Advantage DPA, a downpayment assistance program designed to help underserved borrowers access homeownership and build generational wealth.
Facilitated by affordable housing innovator Arrive Home, Advantage DPA is now available to Panorama's partners nationwide through its Travisa wholesale channel. The program offers 3.5% or 5% in downpayment assistance, with both forgivable and repayable options, empowering lender partners to help more families achieve homeownership in today's high-cost environment.
Hector Amendola, president, Panorama Mortgage Group
“At Panorama Mortgage Group, our commitment to first-time homebuyers and underserved communities isn't just part of our mission, it's who we are,” said Hector Amendola, president of Panorama Mortgage Group. “Advantage DPA helps borrowers overcome the affordability challenge with a simple, flexible solution that reduces upfront costs, expands buying power, and keeps the path to homeownership within reach.”
Designed with both borrowers and originators in mind, the program streamlines the process compared with traditional state or municipal assistance programs. Additional features include accepting borrowers with credit scores as low as 600, while those with scores above 640 do not have to complete homebuyer education. Manual underwriting is allowed and standard FHA debt-to-income ratios apply, which translates into greater buying power. Specifically, for those borrowers who chose the 3.5% forgivable second lien with 0% interest and no payments, the assistance amount is forgiven after 36 consecutive on-time payments on the first mortgage.
“We're proud to offer our Travisa wholesale partners access to this innovative program,” added Amendola, “Advantage DPA creates access to homeownership for more borrowers, while also driving meaningful business growth for our lender partners.”
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Panorama Mortgage is a multi-channel mortgage company headquartered in Las Vegas, Nevada, offering a range of loan products.
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