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Down Payment Program

Down Payment Program

What is Landed's down payment program?

Eligibility

Who is eligible for Landed's down payment program?

How do I know if I'm qualified?

Where can I buy a home with Landed's down payment program?

Do I need to be a first-time homebuyer?

What if I am not a full-time employee?

I’m an essential professional, but I'm not employed by an eligible institution. Can I still use the Landed down payment program?

Can I purchase any type of home with Landed's down payment program?

What is the minimum down payment required? How much can I receive?

I’m looking to purchase a Below Market Rate (BMR) property. Will I be able to use Landed's down payment program?

Will I be able to purchase a foreclosed home?

Can I buy an investment property? What if I want to rent out rooms?

I already own a home. Can I use down payment program funds to refinance or remodel my current home?

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Real Estate Agents

How are agents selected for the Landed agent network?

What is the real estate agent policy?

What happens if I don't want to use an agent at all in my home purchase?

Loans and Lending

Do I need to use a particular lender for my mortgage?

What types of loans can I get if I use Landed's down payment program?

Why wouldn’t I just get a 90% mortgage? How does Landed compare?

What is my mortgage principal? What does it mean to pay it down?

Offer Process

How does Landed determine the beginning property value of your home?

How will Landed's down payment program make my offer more competitive?

What if I want Landed's down payment program to contribute less than 10% down?

What information do you require to approve a property?

What does the property review process entail?

How long does Landed's down payment program take to review a property for approval?

Does Landed's down payment program put a lien on my home?

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Living with a Landed Partnership

What is Landed’s relationship with my employer?

Who is responsible for paying the mortgage, maintenance, insurance, and property taxes?

How do the monthly tax benefits of homeownership ultimately work?

What tax implications are associated with Landed's down payment program?

Do I need to pay Landed monthly?

When do I pay Landed?

If I purchase a home with Landed funds, what happens if I renovate or make upgrades?

What happens if I don’t maintain my home?

Can I refinance my home without paying Landed?

What happens if I want to end my partnership with Landed's down payment program prior to the 30-year term but I don’t want to sell my home?

When exiting the partnership without selling, how does Landed's down payment program assess the value of the home?

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Closings

What does Landed require prior to funding a property?