Help First Generation Home Buyers with a 1% Down Payment Loan
SOURCE: Panorama Mortgage Group
May 22, 2024 /PRNewswire-HISPANIC PR WIRE/ — Panorama Mortgage Group, LLC (PMG), a leading national independent mortgage bank headquartered in Las Vegas, Nevada, doing business as Alterra Home Loans, Vision Mortgage Group, LEGACY Home Loans and Lone Peak Lending, announce the launch of an innovative, proprietary loan program that breaks barriers for first-generation buyers with its exclusive 1% down payment assistance and 2% subsidy; known as the 1st Generation (1st Gen ) Home Buyer Loan Program.
“We believe in removing barriers to homeownership and promoting financial autonomy,” said Jason Madiedo, President and CEO of Panorama Mortgage Group LLC. “Our 1st Generation Loan Program is an innovative program, designed to close the gap and pave the way for underserved communities to build generational wealth through homeownership.”
The 1st Generation program fits into general homeownership initiatives and addresses certain challenges faced by borrowers pursuing their dream of homeownership, greatly differentiating the 1st Generation from the previous versions of first home buyer programs. The program uniquely combines a broader definition of eligible borrowers. The 1st Generation program focuses on borrowers who are the first generation in their family to realize their dream of homeownership, something that was often considered unattainable for previous generations. Another important feature of the program is that the borrower does not have to pay back the 2% subsidy. Additionally, there are no restrictions on property location or census tract, making the program eligible within PMG’s national footprint.
This first-of-its-kind program heralds significant change for families trapped in the rental cycle, where current market trends and inherent barriers make the pride of homeownership seem unattainable.
If you have questions about the 1st Generation Loan Program, please call our hotline: (888) 704-1GEN (1436).
General information about PMG can be found at www.PMGLLC.com .
About Panorama Mortgage Group, LLC: Since 2007, Panorama Mortgage Group, LLC (PMG) is a nationwide minority-run independent mortgage bank, licensed in forty-three states. PMG is focused on delivering innovative mortgage solutions to foster sustainable homeownership and generational wealth creation in minority and underserved communities.
