Owning a home is a quintessential part of the American Dream, yet accumulating the necessary down payment remains a formidable barrier for many. Our Down Payment Assistance Program is specifically designed to turn the tide, offering a beacon of hope and a tangible pathway to homeownership for aspiring buyers nationwide. This innovative program breaks down financial barriers, allowing you to step into your own home with greater ease and less financial strain.
Flexible Housing Options Â
Our program caters to a diverse range of housing preferences and needs, encompassing new or existing homes, manufactured homes, condos, town homes, and 1- to 2-unit single-family residences. This wide eligibility ensures that your dream home, in its many possible forms, can potentially become a reality under this program.
Generous Maximum Sales Price Â
With a maximum sales price limit of $515,695, we've tailored our program to accommodate a broad spectrum of housing markets, from bustling city centers to tranquil suburban neighborhoods. This cap ensures that a variety of homes are within reach, providing ample choice for participants.
Non-Repayable Down Payment Assistance Â
One of the most compelling features of our program is the provision of a Purchase Price Non-Repayable Down Payment. This assistance is not a loan you need to repay; it's a stepping stone to secure your future home, reducing the financial burden and making homeownership more accessible.
Owner Occupancy Requirement Â
To foster community and ensure the program benefits those seeking a home, participants must occupy the purchased property as their primary residence within 60 days of closing. This requirement ensures that the program supports genuine homeownership aspirations.
Financial Eligibility Criteria Â
A minimum FICO Score of 640 and a maximum debt-to-income (DTI) ratio of 49% are prerequisites to maintaining responsible lending practices while opening doors for many applicants. These criteria ensure that participants are well-positioned to manage their homeownership responsibilities successfully.
Educational Empowerment Â
Recognizing that informed buyers make empowered owners, our program mandates the completion of a Home Buyer Education Class. With the help of this priceless resource, you will be well-equipped to embark on a prosperous and long-lasting homeownership journey.
Additional Financial Support for Closing Costs Â
Understanding that closing costs can be a significant hurdle, our program allows for up to 6% Seller Concession towards these expenses. This feature further alleviates the upfront costs of purchasing a home, making it an even more attainable goal.
Our Down Payment Assistance Program is more than just financial aid; it's a dedication to helping families and people realize their aspirations of becoming homeowners. By addressing the common challenge of accumulating a down payment, we're opening doors to opportunities, stability, and the countless benefits of owning a home.
Whether you're a first-time buyer or someone striving to re-enter the housing market, this program is designed with your aspirations in mind. From the flexibility of the housing options supported to the financial backing provided for down payments and closing costs, every aspect of this program is crafted to help your journey to homeownership. Start the journey to becoming the owner of your own house. Explore how our Down Payment Assistance Program can transform your homeownership dreams from aspiration to reality and embark on a journey leading to your future home's doorstep.
We bring a customized, unique approach to mortgages. Our lending solutions use the perfect hybrid of human-driven insights and technical prowess to process loans faster and significantly reduce costs.
