Luminate Path Down Payment Assistance | The 2 Mortgage Guys

Luminate Path Down Payment Assistance | The 2 Mortgage Guys

Luminate Bank's in-house PATH program — FHA and USDA first mortgages plus forgivable and repayable second-lien options. Get pre-approved with The 2 Mortgage Guys.

Luminate Path Down Payment Assistance

STEP ONE: Choose your first mortgage.

STEP TWO: Choose your second mortgage.

Forgivable

Early exit — first mortgage paid off early

Repayable

Rules applying to all six options

Common Luminate Path Questions

Ready to explore Luminate Path?

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.

First liens

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.

Assistance layer

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.

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.

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

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.