Lennar Mortgage Advantage Plus: Our New 5% Down Payment Assistance Program*

The Lennar Mortgage Advantage program is getting even better, with a new option for even more Down Payment Assistance! 

Introduced several months ago, the Lennar Mortgage Advantage program offered 3.5% DPA, helping many Customers afford their dream homes. Now, we’re introducing the Lennar Mortgage Advantage Plus with up to 5% DPA!  

The Lennar Mortgage Advantage Plus Program 

Like its predecessor, the Lennar Mortgage Advantage Plus program offers funds that Customers can use for their down payment and/or closing costs. The assistance comes in the form of a second lien. 

Saving for a down payment is often one of the biggest hurdles to buying a home, especially for first-time homebuyers. This program may allow homebuyers to get into a home without as much upfront cash. 

Here’s an overview of the Lennar Mortgage Advantage Plus Program: 

• Available on select Lennar homes 

• No up front down payment due at closing 

• FHA fixed-rate first loan may be available with Special Financing interest rates (available on select Lennar homes**) 

• 5% Down Payment Assistance is offered in the form of an amortizing second loan 

• No lender fees on second loan 

• No first-time homebuyer requirement 

• Qualification criteria apply; ask your Loan Officer if you qualify 

Do You Qualify?  

If you’d like to use the Lennar Mortgage Advantage Plus program, ask your Loan Officer if you qualify! 

Qualification criteria for this loan program includes but is not limited to the following: 

• Available for home purchases only 

• First loan limit of $766,550 

• Income cannot exceed 160% of the greater of the State Median Income or the Area Median Income 

• Minimum credit score of 640 required 

• Maximum Debt-To-Income ratio of 50% 

• DTIs over 45% require 1 month reserves 

• Not available in Massachusetts, New York or Washington 

• Other qualification criteria, including FHA qualification, apply 

Take Advantage of This Program Today! 

On the path to homeownership, saving for a down payment can be one of the most difficult steps. The Lennar Mortgage Advantage Plus is designed to help Customers overcome that hurdle and buy the home of their dreams.   

Already connected with a Loan Officer? Ask if you qualify for the Lennar Mortgage Advantage Plus program! 

Just starting out? Get pre-qualified today! 

*The first lien FHA Special Financing loan program must be originated simultaneously with the second lien Mortgage “Advantage” Plus DPA loan program. The amortizing payments will be based on the lesser or the appraised value or sales price. Lennar Mortgage’s “Advantage” Plus DPA program is not available in the stats of MA, NY and WA.  

**Special Financing – Limited funds are available; rate(s) may change or not be available at the time of loan commitment, lock-in or closing if funds are exhausted. Minimum credit score of 680 required. 

Nothing herein shall constitute legal, tax, investment or financial advice. No representation is made regarding your ability to qualify for a home loan or the availability of a home loan product that meets your needs. 

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