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How much assistance can a borrower get?

HomeNow offers two levels of assistance to cover borrowers’ down payment and closing costs. The conventional program offers assistance equivalent to 3.0% or 5.0% of the total loan amount. The government program (FHA, USDA Rural Development or VA) assistance equivalent to 3.5% or 5.0% of the total loan amount. For example, 5.0% of assistance on a home with a purchase price of $200,000 that requires a 3% down payment will receive $9,700 of assistance ([$200,000 – $6,000] X 5.0%), enough to cover the down payment and some or all of the closing costs.