• The amount is based on the difference between the sales price of the home and   the buyer’s first mortgage and downpayment. • All buyers automatically receive a minimum of $7,000 • Buyers may qualify for up to $50,000, depending on household income and the   price of the home • Buyers pay nothing on this second mortgage as long as they live in their home • The loan is forgiven over time, between 5 and 15 years, depending on its size.