Married couple with a child on the way desperately wanted to buy a home but did not have funds for a down payment and their credit score was below average. However, as a union truck driver, the borrowers did have the necessary income to qualify. With FHA’s down payment assistance program, we were able to secure 100% financing. The first loan made up 96.5% of the purchase price and the second loan covered the remaining 3.5%. That’s not where the good news ends though; the second mortgage does not require payments. Additionally, if 36 on-time payments are made on the first mortgage, the second mortgage is forgiven which for this borrower equates to over $16,000 of free money!