V1-FAST 100: True 100% With a Forgivable Second
Three tiers of the same idea — an FHA first at 96.5% plus a down-payment second. The base tier's second is 0% interest, deferred, and forgivable over time. Higher tiers trade a small second-lien payment for even more assistance.
| Product | Structure | Second lien | Credit |
|---|---|---|---|
| V1-FAST 100 | 96.5% FHA + 3.5% = 100% CLTV | 0% note, deferred — forgivable over time if still owner-occupied with no repayment event | 600 AUS / 660 manual |
| V1-FAST 100 Plus | 96.5% + 3.5% = 100% CLTV | Rate = first-mortgage rate + 2%, 10-year amortization; payment counts in DTI | 600 AUS / 660 manual |
| V1-FAST 100 Plus Supreme | 96.5% + 5% = 101.5% CLTV | Rate = first + 2%, 10-year amortization; payment counts in DTI | 600 AUS / 660 manual |
Key rules
- Purchase only, primary residence, 1–2 units. Borrower minimum cash: $0.
- No income cap. No first-time-buyer requirement.
- Max DTI 45% on manual underwrites.
- 2/1 buydown available on V1-FAST 100 and Supreme.
- No cash back from the assistance except earnest money.
- State notes: New York ineligible. In Washington the 0% forgivable second is not allowed. In Arizona and South Carolina the second has a $5,000 minimum.
Figures reflect the 1/15/2026 matrix. Confirm the current matrix before locking.
Program guidelines change frequently. Verify the current guidelines and matrix before locking or quoting. This is educational information, not a commitment to lend. Equal Housing Opportunity.
Common questions
How is the second forgiven?
On the base V1-FAST 100, the 0% second is deferred and forgivable over time as long as the home remains owner-occupied and no repayment event occurs.
What's the difference between Plus and Supreme?
Both add a second lien at first-rate + 2% amortized over 10 years (counted in your DTI). Plus covers 3.5% for 100% CLTV; Supreme covers 5% for 101.5% CLTV.
Can I get cash back at closing?
No — the only cash back allowed is your earnest money deposit.
What credit score is needed?
600 with AUS approval, or 660 on a manual underwrite (max 45% DTI).
See what you qualify for
Tell us where you want to buy and how much you can put down. We'll match you with the assistance programs that fit — 100% combos, 1% down grants, or CalHFA — and walk you through every step.