In-House DPA · Luminate Bank

Luminate Path Down Payment Assistance

Luminate Path is Luminate Bank's in-house down payment assistance — two FHA/USDA first mortgages and four second-lien structures so Ryan and Steve can match forgiveness, repayment, or maximum assistance to your file.

2 first mortgages

4 second options

Nationwide except NY

Luminate Path down payment assistance — six PATH products including FHA and USDA first mortgages with forgivable and repayable second lien options

First liens

STEP ONE: Choose your first mortgage.

Both PATH first mortgages are 30-year fixed purchase loans that pair with an eligible PATH second. Credit floors differ depending on whether you choose forgivable or repayable assistance on the second lien.

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Assistance layer

STEP TWO: Choose your second mortgage.

Four second-lien options cover forgivable assistance with no monthly payment, or repayable structures when you need up to 5% help. Both repayable options are fixed-rate second mortgages — only the amortization differs. Rates are set by Luminate Bank and disclosed at time of lock.

Forgivable

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Early exit — first mortgage paid off early

If your first mortgage is paid off before the forgivable second-lien period ends — including through sale, refinance, or full payoff — the remaining unforgiven balance on the assistance layer becomes due and payable. Stay in the home as your primary residence through the full 3- or 5-year forgiveness term and that balance can be forgiven with no monthly payment along the way.

Repayable

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Rules applying to all six options

Every PATH first and second product shares the same eligibility overlays. Ryan and Steve screen your property, occupancy, and borrower profile against these guidelines before you write an offer.

Payment shock reserves

If payment shock is greater than 100% (for example, current rent is $1,000 and the new payment is $2,250 — payment shock is 125%: $1,250 ÷ $1,000), or the borrower lives rent-free, 2 months of reserves are required. Gift funds cannot be used to meet the reserve requirement. If rent is not clearly noted on the bank statement, it must be verified with a VOR.

Mortgage Knowledge Center

Common Luminate Path Questions

Deep-dive guides on how PATH works, assistance amounts, forgivable vs repayable seconds, credit requirements, repayable rates and terms, loan pairings, income rules, first-time buyer status, homebuyer education, where PATH is available, eligible property types, DTI, own-funds contribution, manual underwriting, investment and second homes, manufactured homes, cash back, temporary buydowns, and asset limits.

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Ready to explore Luminate Path?

Ryan and Steve will match PATH FHA or USDA first mortgages with the forgivable or repayable second that fits your credit, occupancy plan, and cash-to-close target — then confirm repayable rates when quoting.

Luminate Path programs are subject to borrower qualification, property eligibility, and lender approval. Rates, terms, and program availability may change without notice and are not available in all states. This page is educational — your scenario is underwritten against current guidelines.