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CrossCountry Mortgage (CCM) has unveiled CCM Smart, a program designed to help first-time homebuyers cover 2% of down payment costs up to $4,000.

Under CCM Smart, at least one occupying borrower must be a first-time homebuyer and must be at or below 80% of the County Area Median Income (AMI). If all borrowers on the home loan are first-time homebuyers, at least one must complete a homeownership education course.

CCM Smart Start is available in all 50 states and Puerto Rico. CCM Smart Start allows for 3-2-1, 2-1, and 1-1 temporary rate buydowns, and the program does not have a repayment requirement.

“Saving for a down payment can be a huge obstacle for first-time homebuyers,” said Jenn Stracensky, chief operating officer at Cleveland-headquartered CCM. “CCM Smart Start allows homebuyers to put less cash down, keep more savings intact, and have more money to build their future.”