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loanDepot Inc. (NYSE: LDI) has launched its “accessZERO” program to assist borrowers challenged with barriers to affordable homeownership.

The new program is available nationwide for Federal Housing Administration purchase mortgages and offers up to 5% in down payment assistance structured as a 10-year fully amortized repayable second mortgage. The program is available for first-time and repeat homebuyers who meet minimum credit score and debt-to-income ratio requirements.

“As we continue to unlock new ways for our customers to purchase homes in today’s challenging market, accessZERO helps address a significant barrier, particularly for first-time buyers grappling with the obstacle of saving for the higher-down payments that come with the rising costs of housing,” said loanDepot Mortgage President Jeff Walsh.