Down Payment Assistance
Free Down-Payment Grant for First Time Homebuyers – Get QUALIFY NOW!
Down Payment Assistance
Free Down-Payment Grant for First Time Homebuyers – Get QUALIFY NOW!
Compare the FHA Down Payment Assistance Program to the Standard FHA Loan Financing program to see your savings. This program is only provided by a specific Institutional Investor. If you would like to learn more or be pre-approved, let’s Get Started! It’s a QUICK and FREE process.
FHA Down Payment Assistance Loan for First-Time Homebuyers- 100% Forgivable Right After Closing
- 2% or 3.5% Forgivable DPA Grant, 96.5% eligible FHA Approved.
- Minimum FICO scores 620.
- Interest rates are competitively priced.
- Mortgage must meet FHA loan guideline eligibility.
- Maximum Back End Ratio = 48.99%
- Primary Residence only. No Investment properties, 1-2 Units.
- Eligible Manufactured Housing, Approved Condos, and PUDS.
- Max Seller contributed of 6% allowed.
- Max Loan Amount based on FHA County Loan Limits (Excluding high balance areas).
- Borrower Eligibility – Must Meet 1 of 3 Options:
- Must be a First-Time Homebuyer
- Borrower income must be less than 140% of HUD Medium Income for the County where the property is located.
- Must be current/retired employment or volunteered/non-paid member.
- Co-signors/Non-occupying Co-Borrowers allowed if related by blood, marriage, or in-law.
- Loan Terms Available - 30 Year Fixed.
- HUD-Approved Homebuyer Education required before closing – At least one borrower must take the Framework Homeownership course from HUD Homebuyer Counseling Course.
- Median Income Eligibility Lookup Tool - State/County : https://ami-lookup-tool.fanniemae.com/amilookuptool/.
