Soft Second Mortgage Program

The Soft Second Mortgage Program is a type of assistance that provides borrowers with an additional, often low-interest loan to help cover their down payment or closing costs when purchasing a home. It is called "soft" because it typically has more flexible repayment terms and lower interest rates than regular loans, making homeownership more accessible. Often offered by government programs or housing agencies, this program aims to reduce the initial financial burden, allowing more people to qualify for a mortgage and afford a new home without facing large upfront costs.