You’ve been doing everything right. You’ve saved what you can. You’ve checked your credit. You’ve scrolled through listings and pictured yourself in that kitchen, in that backyard, hosting friends in that living room.
But every time you start to get serious about buying, you hit the same wall: the down payment.
It’s not that you can’t afford a monthly mortgage payment—you’re already paying rent, after all. It’s the upfront cash that stops you in your tracks. Five percent down on a $300,000 home is $15,000. Add in closing costs and you may be looking at $20,000+ just to get through the door.
For many first-time buyers, that’s the difference between owning a home and renting for another few years.
Here’s the good news: there may be a solution, and it’s only available through Security National Mortgage Company.
What Is SNclose™?
SNclose™ is a down payment assistance program designed to help address one of the biggest barriers to homeownership. For those who qualify, it may provide up to 5% of your home’s purchase price to use toward your down payment, closing costs, and prepaid expenses.
Depending on which option you choose and whether you meet all program requirements, you may not have to repay the assistance.
Two Options to Fit Your Situation
SNclose™ offers two paths for eligible borrowers. Both are designed to help make homeownership more accessible.
Option 1: Forgivable Assistance (3.5%)
This is the option many first-time buyers explore.
Eligible borrowers may receive 3.5% of the home’s purchase price as assistance. There’s no interest charged on the second lien. There’s no monthly payment on that amount. If the borrower meets all program requirements including making on-time payments on the first mortgage for the first three or five years and maintaining the property as a primary residence, the second lien may be fully forgiven.
Requirements may include:
- Minimum credit score of 640
- Paired with FHA or USDA financing
- Subject to additional underwriting requirements
Example: On a $300,000 home, eligible borrowers may receive $10,500 in assistance that could be forgiven if all program terms are met.
Option 2: Repayable Assistance (Up to 5%)
If you need additional assistance upfront, this option may provide up to 5% assistance with a 10-year repayment term. This option is not available for high-balance loans.
Requirements may include:
- Minimum credit score of 660
- Paired with FHA or USDA financing
- Subject to additional underwriting requirements
Example: On a $300,000 home, eligible borrowers may receive up to $15,000 in assistance, subject to qualification.
What If My Partner’s Credit Isn’t Great?
This is one of the most common questions we hear, and SNclose™ has a feature that may help.
Many first-time buyers are purchasing with a spouse or partner, and sometimes one person’s credit score is stronger than the other’s. With most programs, the lower score may disqualify you. SNclose™ offers a blended credit score feature that may help in certain situations.
The blended credit score feature may allow you to average both borrowers’ scores together if:
- The person with the higher income also has the higher credit score
- That person represents at least 60% of total household income
- Your blended score averages to 660 or higher
- All other program requirements are met
Example:
- Borrower 1: Credit score 760, earns $75,000/year
- Borrower 2: Credit score 603, earns $35,000/year
- Blended score: (760 + 603) ÷ 2 = 681
This may allow qualification where the lower individual score might otherwise present a challenge. Pricing is still based on the lower individual score. This feature is subject to automated underwriting system approval and all other program requirements.
Why SNclose™ Only Exists at SecurityNational Mortgage Company
This isn’t a government program. It’s not offered by other lenders. SNclose™ is a proprietary program exclusive to SecurityNational Mortgage Company, designed to help address the down payment challenge many qualified buyers face.
We’re also delegated to underwrite these loans in-house, which may help provide faster decisions and a smoother process for eligible borrowers.
What You May Be Able to Use SNclose™ For
For those who qualify, the funds from SNclose™ may be applied to:
- Your down payment
- Closing costs
- Prepaid items (like property taxes, homeowners insurance, and escrow setup)
These are the upfront costs that can make homeownership challenging to achieve.
How Does the Forgivable Option Work?
With the forgivable option, if you meet all program terms, the second lien may be forgiven. This means:
- You must maintain the property as your primary residence for the forgiveness period
- You must make all first mortgage payments on time (no payments 90+ days late during the first 36 0r 60 months)
- All other program requirements must be satisfied
If you refinance, sell the property, or fail to meet program requirements before the forgiveness period ends, the second lien becomes due and payable.
What Are the Program Requirements?
SNclose™ works with FHA and USDA loans. Eligibility requirements may include but are not limited to:
- Meeting minimum credit score thresholds
- Meeting FHA or USDA program guidelines
- Automated underwriting system approval (manual underwriting may be available for the forgivable option only)
- Property must be owner-occupied as primary residence
- Property types limited to 1-2 unit single-family homes, condos, and PUDs (subject to eligibility)
Requirements may change without notice. Not all applicants will qualify.
How to Learn More
If you’ve been working toward homeownership but the down payment has been a challenge, SNclose™ may be worth exploring.
Here’s what to do next:
- Contact a loan officer at SecurityNational Mortgage Company to discuss your specific situation and determine if you may qualify.
- Get pre-qualified. Understanding your potential eligibility can help you plan your home search.
- Ask questions. Make sure you understand all program terms, conditions, and requirements before proceeding.
Homeownership may be more accessible than you thin, and sometimes the right program can make the difference.
SNclose™ may be that program.
Ready to learn if you may qualify? Contact your loan officer today and ask about SNclose™, the down payment assistance program that’s only available with SNMC. Don’t have a loan officer yet? Find one
here.
In today’s fast-paced world, where apps can deliver dinner in minutes and markets swing by the hour, one investment still stands the test of time:owning a home. While the concept of “generational wealth” might sound lofty or out of reach, the truth is this — every mortgage payment you make, every improvement you add, and every year you hold onto your home… you’re building it.
Whether you’re considering buying your first home or you already have a keychain with your last name on the front door, here’s why homeownership is one of the most powerful tools for creating lasting wealth for your family.
What Is Generational Wealth, Anyway?
Generational wealth is the kind of financial advantage that gets passed down — not just enjoyed in your lifetime, but available to your children, and their children too. This isn’t just about money in a bank account. It can be property, investments, or any asset that grows over time. And real estate is one of the most accessible ways for everyday families to build it.
Why Homeownership Creates Wealth
1. Equity Grows While You Sleep
Every month you make a mortgage payment, a portion goes toward building equity — your ownership stake in the home. Over the years, that equity grows, especially as home values rise. Think of it this way: rent disappears. Equity stays.
2. Value Appreciation Over Time
Homes typically increase in value over the long haul. Even through market dips, history shows that real estate tends to recover and grow stronger — especially when held over decades. That increase in value becomes real wealth you can access through refinancing, selling, or when you pass on.
3. Leverage & Opportunity
With one down payment, you gain control over a large asset. That’s financial leverage — your 10–20% down gives you 100% of the appreciation. Few other investments offer that kind of return.
Real Stories: How a Home Becomes a Legacy
It’s not just about dollars and cents. A home becomes part of your family story:
- A couple buys a starter home and upgrades over the years, using the equity to help pay for their child’s college.
- A grandparent passes down a mortgage-free home, giving their children a head start many never had.
- A family builds wealth by investing in small improvements over time, then uses profits from a home sale to fund retirement or buy a second property.
This is how wealth gets built — quietly, steadily, one generation at a time.
Already a Homeowner? Here’s What You’re Doing Right
If you already own a home, congratulations — you’ve made one of the smartest financial decisions possible. Now, think long-term:
- Can you refinance to a better rate or shorten your term?
- Would a few home improvements raise your home’s value?
- Have you explored turning your home into a rental in the future?
Even if you’re years away from selling or passing it down, the seeds of legacy are already planted.
First-Time Buyer? This Is Your Doorway
For first-time buyers, the idea of “generational wealth” might feel abstract. But here’s what’s real:
- Homeownership puts you in control.
- It sets a foundation for long-term stability.
- And it creates options for your future — whether it’s growing your family, building passive income, or simply having a space that’s truly yours.
Ready to Start or Grow?
Whether you’re just stepping into the world of homeownership or looking to maximize the potential of your current home, know this: The best investment might be right under your roof. Talk to a trusted loan officer, explore your prequalification options, or check out tools like the SNapp Home App to manage the journey with ease. Your future — and your family’s — could begin with a front door key.
Looking to start or strengthen your homeownership journey?
Reach out to your loan officer today —to talk about your goals, your next steps, and the legacy you want to build. Don’t have a loan officer yet?
Find one here.As a mortgage lender, we’ve helped countless families achieve their dreams of homeownership. We understand that owning a home isn’t always a walk in the park, but the benefits far outweigh the challenges. Let’s talk about why homeownership remains one of the most powerful ways to build long-term wealth and stability.
Building Equity, Not Someone Else’s Wealth
Every mortgage payment you make is like paying yourself instead of your landlord. While renters help their landlords build wealth, homeowners gradually increase their own net worth through equity. It’s like having a automatic savings account that grows over time.
Tax Benefits That Make a Difference
Homeownership comes with significant tax advantages, including the opportunities to deduct mortgage interest and property taxes. These deductions can lead to substantial savings come tax season, putting more money back in your pocket.
Freedom to Create Your Space
Want to paint your walls hot pink? Plant a garden? Finally get that dog you’ve always wanted? As a homeowner, you don’t need to ask for permission. Your home truly becomes your castle, allowing you to customize your space to match your lifestyle and preferences.
Protection from Rising Housing Costs
While renters face annual increases in their monthly payments, homeowners with fixed-rate mortgages enjoy more stable housing costs. In today’s inflationary environment, this predictability is more valuable than ever.
Let’s Be Real: It’s Not Always Easy
Homeownership comes with its own share of challenges. From unexpected repairs to property maintenance, being a homeowner means being responsible for everything that goes wrong. That leaky faucet? It’s on you now. The AC that decides to quit in August? Another problem to solve.
But here’s the truth: these challenges are temporary, while the benefits of homeownership are long-lasting. Every obstacle you overcome as a homeowner is an investment in your future and your family’s stability.
The Long-Term Perspective
When you’re writing that monthly mortgage check or dealing with a home repair, remember that you’re playing the long game. Homeownership is about building generational wealth, creating stability for your family, and investing in your future.
While the path to homeownership might not always be easy, it remains one of the most reliable ways to build wealth and create the life you want. As a company who’s helped many people and families navigate this journey, we can tell you that most homeowners look back and say, “It was all worth it.”
Ready to start your homeownership journey? Reach out to your loan officer to talk about your options and create a plan that works for you. Don’t have a loan officer yet? Find one
here.Remember, the best investment in your future might be the roof over your head.
