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