Down Payment Assistance1
Learn about our down payment assistance options.
What Down Payment Assistance Options Are Available?
Your down payment is one of the most important aspects of your home purchase! By taking advantage of down payment assistance options from Lake Area Mortgage, you may be able to afford your first home, lower your interest rate, and reduce or eliminate private mortgage insurance. Use our home loan calculator to see how down payment assistance options could benefit you.
Down payment assistance may be available in the form of first-time homebuyer programs, home loan grants, or other special mortgage loan options. The goal of these programs is to help as many people as possible turn their dream of owning a home into reality.
Want to see if you may qualify for down payment assistance? Use the Down Payment Assistance Qualification Tool or contact a mortgage loan officer today.
1 This is not a commitment to lend or extend credit. This is not an offer to enter a loan agreement at a specific rate. An offer to enter into such an agreement may only be made pursuant to Minn. Stat. 47.206. Information and/or data are subject to change without notice. Membership with a $5 Share Account is required. Restrictions may apply. Lake Area Mortgage™ is a division of Royal Credit Union, 1200 County Road E., Ste 200, Arden Hills, MN 55112. NMLS# 543781. Equal Housing Opportunity.
2 This is not a commitment to lend or extend credit. This is not an offer to enter a loan agreement at a specific rate. An offer to enter into such an agreement may only be made pursuant to Minn. Stat. 47.206. Information and/or data are subject to change without notice. Membership with a $5 Share Account is required. The minimum down payment is 3% of the purchase price. Restrictions may apply. Lake Area Mortgage™ is a division of Royal Credit Union, 1200 County Road E., Ste 200, Arden Hills, MN 55112. NMLS# 543781. Equal Housing Opportunity.
3 This is not a commitment to lend or extend credit. This is not an offer to enter a loan agreement at a specific rate. An offer to enter into such an agreement may only be made pursuant to Minn. Stat. 47.206. Information and/or data are subject to change without notice. Membership with a $5 Share Account is required. The maximum down payment assistance is $5,000 for qualified borrowers. Restrictions may apply. Lake Area Mortgage™ is a division of Royal Credit Union, 1200 County Road E., Ste 200, Arden Hills, MN 55112. NMLS# 543781. Equal Housing Opportunity.
