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Down-Payment Assistance programs

FL Hometown Heroes

 

PRODUCT HIGHLIGHTS:

  • First-time buyer requirement (borrower ONLY) no homeownership in the past 3 years
  • Eligible for Conventional, FHA, USDA, VA
  • Borrower must be employed full-time by a Florida-based employer and work 35 or more hours per week* (only one borrower must satisfy this requirement)
  • *Veterans exempt from this requirement when providing a valid DD214
  • Must be principal residence
  • Maximum Income Limits
  • No Purchase price limits (Use Agency loan limits)
  • Assistance offered as thirty-year deferred second mortgage (Never forgiven)
  • Assistance amount is 5% of the total loan amount (up to $35,000)
  • Minimum FICO 640 (Manufactured Housing 660)
  • Maximum DTI is 50% with AUS A/E
  • Eligible area: Entire state of Florida



NY SONYMA :


PRODUCT HIGHLIGHTS:

  • DPA Loans
  • Achieving the Dream Program
  • Homes for Veterans Program
  • Low Down-payment option
  • Minimum Cash contributions
  • No Prepayment penalties 


TEXAS Homebuyer Programs:


PRODUCT HIGHLIGHTS:

My Choice Taxes Home

  • No FTHB requirement
  • Primary Residence only
  • Min 620 Fico
  • Maximum Income Limits, No Purchase Price limits 
  • DPA Options, Available assistance ranging from 2% - 5% of the total mortgage loan funding permitting
  • 2nd Lien 30 Year Deferred (DPA Loan)
  • 2nd Lien 3 year Forgivable (DPA Loan)



PRODUCT HIGHLIGHTS:

My First Texas Home

  • Must be a FTHB
  • Maximum Income and Purchase Price Limits
  • Min 620 Fico
  • DPA Options, Available assistance ranging from 2% - 5% of the total mortgage loan funding permitting
  • 2nd Lien 30 Year Deferred (DPA Loan)
  • 2nd Lien 3 year Forgivable (DPA Loan)


NJHMFA:


  PRODUCT HIGHLIGHTS:

FIRST TIME HOME BUYER:

  • Must be FTHB
  • 3 yrs. Tax Returns required 
  • Min 620 FICO Required
  • Maximum 47% DTI
  • Non-Occupant not allowed
  • DPA-Forgivable, up to $22K specifically for first generation borrowers only
  • NJHMFA First-Time Homebuyer Program income/purchase price limit applicable to the property’s county.



PRODUCT HIGHLIGHTS:

HFA ADVANTAGE:

  • Not required to be FTHB
  • 3 yrs. Tax Returns required 
  • Minimum 620 FICO
  • Maximum 50% DTI and Max 97 % LTV
  • Income and Purchase Price limits are set by Freddie Mac on an annual basis
  • Can be combined with a DPA-Forgivable Loan, Must Utilize the Smart Start Program and must be a FTHB to utilize this DPA, up to $15,000 in financing. Income/purchase price limit applicable to the property’s county.



PRODUCT HIGHLIGHTS: 

Homeward Bound:

  • Occupying Borrowers do not have to be First-Time Homebuyers to be eligible for this purchase money mortgage loan unless the purchase transaction will also include NJHMFA DPA
  • 3 yrs. Tax Returns required 
  • No Purchase price Limit
  • Minimum 620 FICO
  • Maximum 50% DTI
Products
Conventional Mortgages
Fixed Rate Mortgages
Adjustable Rate Mortgages
Government Loans
Specialty Loans
Pre Approval
Non-QM Investor Solutions
Non-QM Owner Occupied
Non-QM Foreign Nationals
Down-Payment Assistance programs
Fix and Live
Affordability Program
Fix & Flip Program