Essex / NHF
National DPA delivered through Essex Mortgage and the National Homebuyers Fund. Two structures available — a fast-forgiving 3-year option and a 10-year amortized repayable. Notable for allowing manufactured homes where most DPA programs don't.
Quick answer: how does Essex / NHF work?
- Where: nationwide except New York and Washington State (so it works across all of Arizona).
- Two flavors:
- Amortized 2 Plus: 100% or 101.5% CLTV. 10-year amortized second at standard option pricing. Repayable.
- 3-Year Forgivable: 100% CLTV, FHA. 30-year term on the second; 100% forgiven after 3 years with continued occupancy.
- FICO floor: 600 minimum on standard options.
- Income limit: none.
- FTHB requirement: not required.
How it works, step by step
- Pre-qualify with us. Confirm Essex / NHF availability — works in 48 states (not NY or WA).
- Choose between Amortized 2 Plus and 3-Year Forgivable. Forgivable is appealing for shorter holds; amortized for longer-term holds.
- Close. The first mortgage is FHA in most configurations; the DPA second is recorded behind.
- Continue occupying the home as your primary residence. For the Forgivable, the assistance is 100% forgiven after 3 years with continuous occupancy.
Eligibility
| Requirement | Amortized 2 Plus | 3-Year Forgivable |
|---|---|---|
| CLTV | 100% or 101.5% | 100% |
| Loan term on 2nd | 10-year amortized | 30-year forgivable |
| Forgiveness | None (repayable) | 100% forgiven after 3 years |
| Min FICO | 600 | 600 |
| Loan type (1st) | FHA | FHA |
| Property type | SFR, Condo, PUD, 2 units, manufactured (double/triple wide) | SFR, Condo, PUD, manufactured (double/triple wide) |
| Income limit | None | None |
| FTHB | Not required | Not required |
FAQ
Forgivable in 3 years — what's the catch?
Continued occupancy. If you stop living in the home as your primary residence inside the 3-year window, the DPA balance is due. Sell or refinance for cash-out inside 3 years and you also owe it back.
Manufactured homes really allowed?
Yes — Essex is one of the few DPA programs that permits manufactured homes (doublewide and triplewide on permanent foundations).
Why isn't this available in NY or WA?
State-specific regulatory issue with the program administrator. We'd need to use a different DPA in those states.
Can I do this on a 2-unit property?
On the Amortized 2 Plus product, yes (with one of the units being your primary). Forgivable is more typically 1-unit only — verify at consult.
Why FHA only?
Like most DPA programs, Essex/NHF is structured around the FHA insurance pool. Conventional alternatives exist via different program administrators.
Curious if Essex / NHF is the right fit?
20 minutes — bring your zip code, income range, and credit ballpark. We'll model real numbers.