Pennymac is pleased to announce that we are aligning with Fannie Mae and Freddie Mac’s recently announced extension of the temporary down payment assistance ($2,500) for very low-income purchase borrowers (VLIP) for HomeReady and Home Possible products!
Extension: The $2,500 VLIP assistance has been extended through February 26, 2027 with continued eligibility requirement that at least one borrower must be a first-time homebuyer (FTHB).
Loans under the extended $2,500 VLIP assistance program must be delivered to Pennymac on or before 01.08.2027. The last day for Pennymac to purchase these loans is 01.29.2027.
Please see Pennymac Announcement 24-18 and Announcement 24-131 to reference prior Pennymac announcements.
Please contact your Sales Representative with any questions.