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Home buyer programs by state | 2017

State-by-state home buyer programs

On the map below, click on your state to see home buyer assistance programs available in your area. Once clicked, below the map you will find brief descriptions of available programs, and below that, you'll find a table of links to reach the state agency website, find participating lenders, see qualification details, get homebuyer education courses and to contact the agency for additional questions, help and information. Each state differs in the number and type of programs they offer.

In addition to these statewide offers, some states also have targeted funds or special programs aimed at certain geographic or metropolitan areas in the state, so be sure to visit your state's housing agency website to see if there is additional help available to you.

Washington Idaho Montana North Dakota Minnesota Wisconsin Michigan Oregon Wyoming South Dakota Iowa Illinois Indiana Ohio California Nevada Utah Colorado Nebraska Kansas Missouri Kentucky Arizona New Mexico Texas Oklahoma Arkansas Louisiana Mississippi Tennessee Alabama Georgia Florida West Virginia Maryland Pennsylvania New York Vermont New Hampshire Maine Massachusetts Rhode Island Connecticut New Jersey Delaware Virginia North Carolina South Carolina Alaska Hawaii Washington DC Delaware Vermont New Jersey Rhode Island Connecticut New Hampshire Massachusetts Maryland Washington DC

HSH.com has compiled a list of home buyer programs in each state in order to inform borrowers of what assistance might be available to them in their local area.

Each state offers a different number of programs, and each state offers varying levels of buyer assistance. For this project, HSH.com only collected information on programs that were available statewide. While targeting first-time home buyers, we did not exclude programs available to repeat buyers as well. Each state defines a first-time home buyer as someone who has never owned a home, or someone who has not owned a home in the past three years.

If programs do have a first-time-buyer requirement, that restriction is almost always waived for qualifying veterans or someone buying a home in a state-designated “target area.”

To qualify for one of these statewide home buyer programs, which can offer anything from below-market mortgage rates to down-payment assistance to special programs for police or firefighters, borrowers must almost always attend a home buyer education course. Statewide assistance programs must be acquired through a participating lender.

Alabama

Number of Programs

2

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
AlabamaProgram description
Step Up Program

The Step Up Mortgage program helps moderate-income home buyers with their down payment. The program secures down payment funds with a 10-year second mortgage that is combined with a 30-year, fixed-rate first mortgage. Loans are serviced by ServiSolutions, which is a division of the Alabama Housing Finance Authority (AHFA). To qualify, a borrower must have a minimum credit score of 620, annual household income below $97,300, buy a new or existing home as a primary residence in Alabama and complete a homeownership education course.

Mortgage Credit Certificate

The Mortgage Credit Certificate program (MCC) “provides a tax credit to reduce the amount of federal taxes owed, by a percentage of the annual mortgage interest paid each year.” First-time homebuyers must buy a new or existing home as a primary residence and use a participating lender for a 30-year, amortizing loan. Borrowers are subject to income and sales price limits. MCCs are capped at $2,000.

Interested? Get more help, learn details, find participating lenders
Visit
Alabama
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Alabama mortgage rates
Alaska

Number of Programs

11

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
AlaskaProgram description
Affordable Housing Enhanced Loan Program This down payment assistance program is designed to help Alaskans with low to moderate income and is offered in the form of a grant, deferred payment(s), or forgivable loan. Occasionally this grant can be paired with other closing cost and down payment assistance options.
Closing Cost Assistance Program Alaska homebuyers can receive up to 4% of their initial mortgage principal balance to cover a down payment and/or closing costs. Residents must have a credit score of 640 or above.
Energy Efficiency Interest Rate Reduction Program Alaska offers interest-rate reductions when financing new or existing energy-efficient homes or improvements. Interest-rate reductions apply to the first $200,000 of the loan amount. Loans exceeding $200,000 receive a blended interest rate rounded up to the next 0.125 percent.
Interest Rate Reduction Program for Low-Income Borrowers Offers subsidized interest rates for low-income borrowers to make homeownership more attainable. Interest rates are reduced from 0.5 percent or 1 percent based on family income, size and location.
State Veterans Interest Rate Preference Program Qualified Alaska veterans can receive a 1 percent interest rate reduction on the first $50,000 of their original loan amount. Blended interest rates apply to loans above $50,000, rounding up to the next 0.125 percent.
Second Mortgage Program Second mortgages of up to $312,750 may be obtained to make home improvements. The maximum loan term is fifteen years and a new appraisal is required.
Second Mortgage Program for Energy Conservation Qualified borrowers can participate in this second mortgage program to make energy improvements their owner-occupied homes. The maximum loan amount offered through this program is $30,000, and the maximum loan term is 15 years. All approved improvements must be completed within 365 days of the loan closing.
Assistance Provider Rate Reduction The program helps live-in caretakers of physically or mentally disabled residents access housing. The borrowers (caretakers) are eligible to receive an interest rate reduction of up to 2 percent with an interest rate floor of 2.5 percent. There must be at least two residents in a home, but no more than five. An annual home inspection is required.
Manufactured Home Program Type II manufactured homes are available for up to $175,000. Loan lengths range from 7 to 15 years, depending upon the manufactured home type.
Rural Owner-Occupied Loan Program Residents in rural or small communities may access loans to purchase or renovate their owner-occupied homes, with a special interest rate applying to the loan amount's first $250,000.
First-Time Homebuyer Alaska has two programs to support first-time homebuyers: one for tax-exempt buyers and the other for taxable first-time homebuyers. Federal rules set income limits for participants.
Interested? Get more help, learn details, find participating lenders
Visit
Alaska
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Alaska mortgage rates
Arizona

Number of Programs

1

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
ArizonaProgram description
The HOME Plus Program Qualified Arizona homebuyers may receive a grant equal to 4 percent of the mortgage amount. Borrowers are not required to repay the money. Income and purchase restrictions include: borrower's household income may not exceed $88,340, and the total amount borrowed cannot be above $353,360. A FICO credit score of 640 or higher is necessary. U.S. Military personnel can receive an additional 1 percent for down payment assistance.
Interested? Get more help, learn details, find participating lenders
Visit
Arizona
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Arizona mortgage rates
Arkansas

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
ArkansasProgram description
ADFA Move-Up Choice This program grants homebuyers 4% of their loan amount to cover their down payment and closing costs. This program is offered to both first-time and repeat homebuyers with a (two-person) household income at or below $100,000 annually or a three-person household income limit of $130,000 per year.
ADFA Move-Up Single Family Loan Program This 30-year fixed-rate mortgage has no pre-payment penalty and can be combined with down payment assistance and federal tax credit incentives.
ADFA First Time Homebuyer Federal Tax Credit Qualifying Arkansas homebuyers in targeted counties may receive a certificate enabling them to claim a tax credit of up to 50% of the mortgage interest paid each year, with a cap of $2,000.
Down Payment Assistance Program This down payment assistance comes in the form of a 10-year amortizing second mortgage loan at a 4 percent interest rate. The program offers up to $6,000 in down payment and closing cost assistance.
Arkansas Dream DownPayment Initiative This program helps low income first-time homebuyers purchase single-family homes in the state. ADDI funds are granted via a forgivable second mortgage of up to 6 percent of the purchase price, or $10,000, whichever is smaller.
Interested? Get more help, learn details, find participating lenders
Visit
Arkansas
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Arkansas mortgage rates
California

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
CaliforniaProgram description
CalHFA Conventional Program and CalHFA FHA Program

Both programs are 30-year, fixed-rate loans, offered through CalHFA-approved lenders, that can be paired with either the California Homebuyer Downpayment Assistance Program or the Extra Credit Teacher Program. Homebuyer education counseling must be completed and the first mortgage loan amount must not be greater than $424,100.

CalPLUS Conventional Program and CalPlus FHA Program

Both programs are 30-year, fixed-rate loans (insured through either private mortgage insurance or the federal government) and are combined with the CalHFA Zero Interest Program (ZIP), a deferred-payment junior loan of 3 percent of the first mortgage loan amount which is used for down payment assistance. The conventional program is combined with the ZIP Extra program which offers an additional $6,500 of assistance with zero interest for first-time buyers of single-family homes or condominiums.

Extra Credit Teacher Home Purchase Program

The ECTP is an exclusive opportunity in California providing deferred-payment junior loans from $7,500 to $15,000 to assist with down payments and closing costs. The program is only available when used in conjunction with a CalHFA first mortgage loan, and is reserved for eligible teachers, administrators, classified employees and staff members working in California schools.

The Cal-EEM + Grant Program

In an effort to promote energy conservation, California has developed a program to help homebuyers and homeowners finance home improvements that make a household more energy efficient. The Cal-Energy Efficient Mortgage (EEM) + Grant program is a 30-year fixed rate FHA-backed first mortgage loan that pairs with a grant which is specifically used for energy-efficient home improvements. This program can be coupled with the California Homebuyer Down Payment Assistance Program or the Extra Credit Teacher Program.

MyHome Assistance Program

This program must be combined with a CalHFA first mortgage loan. It offers a deferred-payment junior loan of up to 3.5% of a home’s purchase price or appraised value, whichever is lower, to cover a down payment and/or closing costs.

Interested? Get more help, learn details, find participating lenders
Visit
California
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current California mortgage rates
Colorado

Number of Programs

8

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
ColoradoProgram description
CHFA Advantage Program With a minimum credit score of 680, you can qualify for a 30-year purchase loan with a down payment as low as 3 percent and no mortgage insurance. Borrowers must meet income and purchase-price requirements.
CHFA Preferred Program The Preferred home loan program requires a minimum credit score of  620. Borrowers can qualify for reduced-cost mortgage insurance. This program has income and purchase-price limits, and can be combined with down-payment and closing-cost programs. However, the “Preferred” program with requires 3 percent down (must be your own funds) and borrowers must contribute a minimum of $1,000 towards the loan.
CHFA SmartStep Program SmartStep is a purchase program touting the lowest mortgage rates among Colorado’s programs. Borrowers must meet credit score (620 or higher), purchase and income limits. Borrowers can pair the SmartStep program with one of Colorado’s down payment/closing cost assistance programs or an MCC. Borrowers must contribute at least $1,000 towards the transaction.
CHFA HomeOpener Program The HomeOpener program does not have any purchase price limits, and its income limits are higher than other Colorado programs. A 620 credit score is required and qualifying borrowers must contribute at $1,000 to the transaction. This program can be paired with down payment and closing cost assistance.
CHFA HomeAccess Program The HomeAccess Program is for first-time buyers in Colorado who have a permanent disability or are the parent(s) of a child with a permanent disability. Borrowers must contribute at least $750 which can come from a gift, and have a credit score of at least 620.
Down Payment Assistance Grant This program grants up to 4 percent of the loan amount and doesn’t need to be paid back. The money can be used toward a down payment, closing costs, building out your savings account, or to make improvements to your new home.
Borrower Premium Program This program gives your lender a credit in the amount of either 1 to 3 percent of your first mortgage loan amount to offset closing costs. Be aware: Higher interest rates apply.
Zero-Percent Second Mortgage Access up to 5% of your first mortgage with no monthly payments. This loan must be repaid when you sell or refinance your home.
Interested? Get more help, learn details, find participating lenders
Visit
Colorado
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Colorado mortgage rates
Connecticut

Number of Programs

12

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
ConnecticutProgram description
Homebuyer Mortgage Program Dedicated to first-time homebuyers, Connecticut offers below-market interest rates on 30-year fixed-rate mortgage loans, through state-select lenders.
Downpayment Assistance Program First-mortgage borrowers can also apply for down payment assistance in the form of a second mortgage loan of at least $3,000, but may not exceed 25 percent of the purchase price. Applicants must put at least $10,000 towards a down payment unless otherwise noted. There is a $200 application fee for this assistance.
HFA Preferred Loan Program The HFA Preferred Loan Program is a first-time homebuyer program offering “below market” 30-year, fixed-rate loans with low mortgage insurance costs. Borrowers must have mortgage insurance, must meet the income and purchase-price guidelines, and the program cannot be paired with any other mortgage program offered by the state.
Military Homeownership Program The Military Homeownership Program is a first-time homebuyer program offering below-market rates to veterans, active duty, National Guard, unmarried surviving spouses or civil union partners of eligible veterans who died as a result of military service. Other exceptions may be included, contact a state housing representative for more details. This program can be combined with the Downpayment Assistance Program.
Police Homeownership Program The Police Homeownership Program encourages police officers to live in the communities where they work by offering below-market interest rates. The program is primarily designed to benefit police officers who are first-time homebuyers; however, areas with an increased need for police personnel may make exceptions. “Qualified borrowers of the Police Homeownership Program automatically qualify for a DAP loan without regard to their assets or household savings.”
Teachers Mortgage Assistance Program Like the police program, this 30-year fixed-rate loan at below-market rates (with the additional option of down-payment assistance) encourages teachers to live where they work. Certified public school teachers or certified regional vocational-technical teachers in Connecticut who are at least part-time employees can apply. Certain subject matter shortage areas and priority/transitional school districts are defined through June, 2017.
HERO Expansion Program The HERO (“Homeowner’s Equity Recovery Opportunity”) Expansion Program is open to both first-time and repeat buyers to purchase and rehab foreclosed, short sale or abandoned properties. This statewide program does restrict the sale or transfer of ownership for five years (unless special permission is granted by the CHFA).
Veterans Homeownership Pilot Program Funds for the Veterans Homeownership Pilot Program are limited and available on a first-come, first-served basis. The program offers a below-market rate for the first mortgage and a 0 percent second loan for down payment assistance.
Home of Your Own Program The HOYO program is designed to create housing opportunities for first-time homebuyers with disabilities by offering below-market rates. In order to qualify for a loan, a borrower must present documentation from a government agency confirming their disability, and they must fall within income and purchase-price limits. Qualified borrowers can also apply for the Downpayment Assistance Program.
Mobile Manufactured Home Loan Program First-time homebuyers may access available state funds to obtain affordable interest rates on manufactured homes in Connecticut. Thirty-year fixed loan APR range between 3.475 and 4.125%.
Section 8 Housing Choice Voucher Homeownership Program Section 8 tenants who want to purchase their own homes may be able to use vouchers toward monthly mortgage payments.
Smart Move Second Mortgage Program Low and moderate-income first-time homebuyers who qualify for a CHFA first mortgage loan may be able to qualify for financing up to 20% of a home purchase price. This loan is intended to cover a down payment, has a 20-year term and a 3% interest rate. Borrowers avoid mortgage insurance.
Interested? Get more help, learn details, find participating lenders
Visit
Connecticut
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Connecticut mortgage rates
Delaware

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
DelawareProgram description
Delaware First-Time Homebuyer Tax Credit Commonly known in other states as mortgage credit certificates, Delaware’s first-time homebuyer tax credit is a federal income tax credit that allows borrowers to claim up to 35 percent of the annual interest paid on their mortgage. As per federal standards, the annual amount of the credit cannot exceed $2,000 per year. This tax credit can be used in conjunction with down payment and closing-cost assistance programs.
Second Mortgage Assistance Loan This second mortgage opportunity is a 3 percent, 30-year deferred loan capped at $8,000 which can be used to cover down payment and closing cost expenses. Down-payment assistance can be paired with any of Delaware’s homeownership loans.
Homeownership Loan Program Qualified homebuyers may access below-market interest rates on their first mortgage.
Advantage 4 Program Advantage 4 is a down payment assistance program which is funded by a grant. This loan – which covers up to 4 percent of the first loan amount -- can be paired with any of Delaware’s homeownership loans.
Neighborhood Stabilization Program Delaware provides funds for people to purchase and rehabilitate foreclosed and abandoned properties. "All NSP funds must be used to create affordable rental and homeownership opportunities for households at or below 120% of Area Median Income."
Interested? Get more help, learn details, find participating lenders
Visit
Delaware
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Delaware mortgage rates
Florida

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
FloridaProgram description
First-Time Homebuyer Program

Florida’s First-Time Homebuyer Program offers 30-year fixed rate loans through participating lenders and lending institutions. Income and purchase price limits apply. A borrower must have a minimum FICO credit score of 640 to qualify.

Local SHIP Program

The State Housing Initiatives Partnership (SHIP) enables very low-to-moderate income borrowers in Florida to access funds from their local county for down payment and closing costs.

Florida Housing Mortgage Credit Certificate Program

The Florida Housing Mortgage Credit Certificate (MCC) Program allows first-time homeowners to claim up to 50% of their first mortgage interest or up to $2,000 each year as a tax credit. As with the first-time homebuyer program, income and purchase price limits apply.

Interested? Get more help, learn details, find participating lenders
Visit
Florida
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Florida mortgage rates
Georgia

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
GeorgiaProgram description
The Dream Program

The Dream Program is available for first-time homebuyers, those who have not owned a home in the past three years, and people buying homes in targeted areas. The loan is a 30-year fixed-rate first mortgage for buyers with a two-person household income of $69,000 or less or  a three-person household income at or below $79,500. The home’s sales price may not exceed $250,000.

Dream Down Payment Assistance

Georgia offers eligible homebuyers up to $5,000 that can be used toward down-payment assistance. Borrowers can only qualify for this down-payment assistance if they are eligible for Georgia’s Dream Program and they must contribute at least $1,000 to the purchase transaction.

The Protectors, Educators and Nurses (PEN) Program

Eligible borrowers must be military, police, fire (including EMS workers and volunteers), education, or a health care worker in a state-licensed facility. The PEN program offers $7,500 in down-payment assistance. Borrowers must meet the requirements of the Georgia Dream Program.

Consumer Home Ownership and Independence Choice for Everyone (CHOICE) Program

The Choice program helps certain homebuyers with disabilities, or a Georgian caring for a disabled family member. In order to qualify, a borrower needs to provide documentation from an acceptable medical source verifying the disability. Similarl to the PEN program, CHOICE offers up to $7,500 for down-payment assistance.

Interested? Get more help, learn details, find participating lenders
Visit
Georgia
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Georgia mortgage rates
Hawaii

Number of Programs

1

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
HawaiiProgram description
Mortgage Credit Certificate

MCCs assists low and moderate-income homebuyers by reducing the amount of federal income tax owed on mortgage interest, freeing up cash for monthly payments or a down payment. A federal tax credit is applied to 20 percent of your yearly mortgage interest, up to $2,000. The remaining portion of your mortgage interest is still eligible to be deducted at tax time.

Interested? Get more help, learn details, find participating lenders
Visit
Hawaii
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Hawaii mortgage rates
Idaho

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
IdahoProgram description
First Loan Products

These loans are for first-time FHA and VA borrowers who fall within state specified income and purchase-price limits. The loan products, which offer gifts and second mortgage loans to cover down payments, cannot be paired with the Homebuyer Tax Credit Program.

Good Credit Rewards Program

A 10-year fixed-rate second mortgage for down payment and closing costs is available to eligible homebuyers. Borrowers must contribute at least 0.5% of the purchase price toward the transaction.

HOME Down Payment Closing Cost (DPCC) Assistance Program

Those purchasing homes constructed after January 1, 1978 may qualify for down payment and closing cost assistance if their intended hoe is in an identified eligible area. Homebuyers must make a minimum $500 cash investment.

Homebuyer Tax Credit Program

Borrowers can get up to $2,000 – or 50 percent of the total mortgage interest paid – in tax credits. Any unused tax credit can be carried forward up to three years. There is a $300 fee.

Interested? Get more help, learn details, find participating lenders
Visit
Idaho
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Idaho mortgage rates
Illinois

Number of Programs

2

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
IllinoisProgram description
1st HomeIllinois Program This first-time homebuyer program offers $7,500 in down-payment assistance, but it is not offered statewide. This program is only for first-time buyers in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties. Buyers can purchase a one- or two-unit property and must contribute at least $1,000 to the transaction.
@HomeIllinois Program The @HomeIllinois mortgage program for first-time homebuyers. This is a 30-year, fixed-rate mortgage that requires borrowers to pay 1 percent or $1,000 of the purchase price, whichever is greater. Buyers must meet income and purchase-price limits, and must have a credit score of at least 640. They must live in the home as a primary residence and must complete a housing counseling program that is offered in both online and in-person options. The program also offers other types of help to buyers, including: $5,000 in down payment or closing cost assistance (payment terms are 0 percent for 10 years, and borrowers who meet certain income limits do not have to pay back the loan), a federal tax credit certificate, lender-paid mortgage insurance, a choice of loan type that includes FHA, VA, USDA or conventional.
Interested? Get more help, learn details, find participating lenders
Visit
Illinois
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Illinois mortgage rates
Indiana

Number of Programs

7

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
IndianaProgram description
Affordable Home Program This FHA loan program funds loans for first-time homebuyers (or those purchasing in a targeted area) utilizing FHA financing. A minimum credit score of 660 is necessary for a 30-year, fixed rate mortgage.
My Home Conventional Program My Home Conventional provides 30-year, fixed-rate conventional loans to qualified homebuyers (there is no first-time buyer requirement). Eligible candidates must meet income limits and pay a reservation fee of $100. Homebuyers must make a down payment of 3 percent of the purchase price or appraised value (whichever is less). The program can be combined with the MCC program, but no down-payment assistance is available.
Next Home Program Homebuyers, both first-time and repeat buyers, can receive down-payment assistance of 3 percent (conventional) or 3.5 percent (FHA) for loans originated through IHCDA participating lenders. Income limits apply. Homebuyers must have a minimum credit score of 660. The down payment assistance has zero interest and no monthly payments, and the assistance is forgiven after two years. Borrowers can combine this program with a MCC.
Mortgage Credit Certificate Qualified first-time homebuyers who meet income and acquisition limits can receive a federal tax credit of between 20 percent and 35 percent of the interest paid on their mortgage annually. Borrowers who keep their properties as primary residences can claim the credit for the life of the mortgage, with a $2,000 maximum per year. Borrowers who are not first-time homebuyers may be eligible for the program in targeted counties.
Next Home with MCC Combo Program First-time buyers who meet income and acquisition limits may receive  down-payment assistance combined with the tax benefits of the MCC program.
Helping to Own (H2O) First-time homebuyers or those buying in a targeted area may qualify for an FHA 30-year fixed mortgage and access 100% financing. A down payment grant of 3.5% of the purchase price does not have to be repaid. Income limits apply and a minimum credit score of 660 is required.
My Home with MCC First-time buyers with minimum credit scores of 640 can obtain a 30-year fixed-rate mortgage and federal tax credit. Loan to value ratios must be equal to or less than 95%.
Interested? Get more help, learn details, find participating lenders
Visit
Indiana
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Indiana mortgage rates
Iowa

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
IowaProgram description
FirstHome and FirstHome Plus Programs

The FirstHome program offers first-time buyers a 25- or 30-year loan. The “Plus” program offers up to $2,500 in grant funding to be used for down payment and/or closing costs. To qualify for both: there is no minimum down-payment requirement, and a home purchase price is limited to $255,000. Borrowers must occupy the house as their primary residence and have a minimum credit score of 640, a maximum debt-to-income ratio of 45 percent, and they must show an ability to repay the loan.

Homes for Iowans and Homes for Iowans Plus Programs

Homes for Iowans offers 25- or 30-year loans with no first-time restriction. Homes for Iowans Plus provides up to $2,500 for closing costs and down payment. Participants must meet income eligibility, homes cannot cost more than $312,000 and be a primary residence, borrowers must have a minimum credit score of 640, and a maximum debt-to-income ratio of 45 percent.

Military Homeownership Assistance Program

Eligible service members and veterans can receive a $5,000 grant to assist with a down payment or closing costs. The one-time grant can be used with a qualifying mortgage or cash purchase. To be eligible, borrowers must have had an honorable discharge or be the surviving spouse of such an individual. Service members can purchase a single-family residence which includes "stick built" homes, modular or manufactured homes attached to a permanent foundation, condominiums, townhomes and properties containing up to four units where one unit will be used as the service member's primary residence. "The Military Homeownership Assistance grant may also be combined with a Plus grant for a total of $7,500 of down payment and closing cost assistance for borrowers who qualify for both programs."

Interested? Get more help, learn details, find participating lenders
Visit
Iowa
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Iowa mortgage rates
Kansas

Number of Programs

1

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
KansasProgram description
First Time Homebuyer Program

Kansas has a first-time homebuyer program for those purchasing properties in targeted cities.  This program is a “soft loan” that ranges from 15 percent to 20 percent of the home’s purchase price and is “forgiven over time.” Income limits apply.

Interested? Get more help, learn details, find participating lenders
Visit
Kansas
website
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Participating lenders Contact for more help
Check current Kansas mortgage rates
Kentucky

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
KentuckyProgram description
MRB Funding Source First-time homebuyers who meet annual income limits and purchase a principal residences for no more than $255,500 are eligible for a 30-year, fixed-rate mortgage. Under the MRB umbrella, Kentucky offers several loan options: the Conventional No Mortgage Insurance Program (minimum credit score of 680, 3 percent down and no MI, no borrower contribution necessary, and can be paired with down-payment assistance), Conventional with MI (only difference is MI is required), and FHA, VA and RHS loans (minimum credit score of 640 and can be paired with down-payment assistance).
Secondary Market Loan Program First-time or repeat buyers purchasing a principal residence for no more than $283,900 are eligible for a 30-year, fixed-rate mortgage loan. Income limits apply.
Regular DAP Program Loans of up to $6,000 are available for down payment assistance, and are repayable over a decade at 5.5 percent. Eligible homes include those with a purchase price of up to $283,900 (secondary market) or $255,500 with MRB. All KHC first-mortgage loan recipients are eligible.
Affordable DAP Program Loans of up to $4,500 are available as assistance, and are repayable over 10 years at 1 percent. Participants must meet household income limits.
KHC’s Home Buyer Tax Credit Program This program lowers your federal taxes of up to 35 percent or up to $2,000 (whichever is greater) annually through a credit that is available throughout the life of the loan. Homeowners who sell their residence within the first nine years of ownership may have to pay a federal recapture tax. To be eligible, you must be a first-time homebuyer and meet income, purchase price and credit requirements. A $500 MCC fee applies.
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Louisiana

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
LouisianaProgram description
Market Rate GNMA Program This 30-year loan is for both first-time and repeat homebuyers who qualify for an FHA, VA or RD federal mortgage. Borrowers may have household income up to 115% of the median income in their area. There are no origination or discount fees, and up to 4% of the purchase price is available for down payment or closing costs.
LHC Preferred Conventional Program This 30-year conventional loan is for buyers, both first-time and repeat, who earn no more than $99,000 per year. With a minimum credit score of 640, borrowers can qualify to receive 4 percent of the loan amount to be used for a down payment and/or closing costs. This program comes with reduced mortgage insurance costs and no origination or discount fees.
MCC Program The Mortgage Credit Certificate Program is available for low and moderate income first-time homebuyers. Household income limits apply, based on family size. Borrowers can receive a tax credit up to 40% of their annual mortgage interest payments, to a maximum of $2,000 per year.
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Louisiana
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Maine

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MaineProgram description
First Home Program

This low-rate, fixed-term mortgage program is available to first-time homebuyers with little or no down payment and it includes payment protection for unemployment. Borrowers must meet purchase price and income eligibility limits.

Advantage Program

Maine provides up to $3,500 in closing cost, down payment or escrow assistance to eligible borrowers. Borrowers must contribute 1 percent of the loan amount, but the cost of the required homebuyer education class counts toward the 1 percent. No cash back is available at closing.

Salute ME Program

Maine shows appreciation for active duty and retired military personnel with “a 0.25 percent discount to our already low First Home Loan 30-year fixed interest rate.” This program is designed for first-time or returning buyers whose new home will be a primary residence. According to the Maine State Housing Authority, “Household income and home purchase price limits apply.

Maine HOPE Program

The “HomeOwnership Protection for unEmployment” Program provides protection for borrowers if they become unemployed. Borrowers may be eligible to have four mortgage payments (including taxes and homeowners insurance) paid on their behalf. Payment help comes in the form of an interest-free junior mortgage lien that is repaid when the mortgage is paid off or the home ceases to be used as a primary residence.

Purchase Plus Improvement Program (PPIP)

Eligible borrowers may be able to include between $500 and $35,000 for home improvements in their first mortgage loan amount. Home improvement costs cannot exceed the loan program's purchase price limits.

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Maine
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Maryland

Number of Programs

8

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MarylandProgram description
Maryland Mortgage Program Borrowers can get a 30-year, fixed-rate mortgage that is competitive with commercial lenders. First-time homebuyers and those who have not owned a home in the previous three years are eligible. Repeat buyers can be eligible if they buy a home in a targeted area. These first mortgages can be combined with down-payment assistance.
MMP -- No Down Payment Assistance ("No DPA") Program Borrowers taking advantage of the Maryland Mortgage Program can forgo the down-payment assistance associated with the loan and get a lower interest rate through the No DPA Program. The first-time homebuyer requirement can be waived in certain circumstances.
Maryland Homefront Program This program offers active duty and military veterans an interest-rate discount of 0.25 percent on a 30-year fixed-rate mortgage. This program can also be combined with Maryland’s down-payment assistance.
Down Payment Assistance Program In addition to a state-approved fixed-rate loan at competitive rates, qualifying buyers can also receive down-payment and closing-cost assistance of up to $5,000 in the form of a zero percent deferred loan, forgivable loan or cash grant.
Partner Match Program Maryland has joined forces with employers, developers and community organizations to offer partner match programs that can help homebuyers cover down payment and closing costs. Partner match programs generally involve contributions of between $1,000 and $5,000 in the form of grants or loans from a partner organization. The Maryland Mortgage Program then matches these amounts up to $3,500 in the form of a zero-interest deferred loan. Multiple partner matches may be combined, and these matches also may be combined with other down-payment-assistance loans.
Maryland HomeCredit Program This Mortgage Credit Certificate, when combined with the Maryland Mortgage Program and down-payment assistance “can save a homebuyer tens of thousands of dollars over the life of a home loan.” The value of Maryland’s MCC is 25 percent of annual mortgage interest payments, up to $2,000.
Maryland SmartBuy Homebuyers with eligible student debt can receive highly attractive financing and closing cost assistance to buy move-in-ready homes. Buyers must have student loans of at least $1,000 and up to 15% of the home purchase price. SmartBuy financing can provide up to 15% of the home purchase price to pay off existing student debt. All student debt must be paid off when the home is purchased.
“You’ve Earned It” Initiative This program offers a 0.25% discount on standard Maryland Mortgage Program interest rates and $5,000 in down payment assistance to home buyers with at least $25,000 in student debt. It is necessary to buy a home in one of Maryland’s sustainable communities.
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Maryland
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Massachusetts

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MassachusettsProgram description
MassHousing Mortgage with no MI

Eligible homebuyers can access an affordable 30-year, fixed-rate mortgage with a 3% to 5% down payment and avoid mortgage insurance.

MassHousing Mortgage with No MI

Borrowers get an affordable fixed-rate, 30-year mortgage loan with mortgage payment protection that can help pay your loan if you lose your job. Borrowers must meet income, credit and loan-limit guidelines.

MassHousing Mortgage with Rehabilitation

Borrowers can get a loan that covers both purchase and home rehabilitation costs. Participants must meet income and purchase-price requirements, and are required to make at least a 3 percent down payment. The maximum loan amount is 97 percent of the purchase price, plus rehabilitation costs or the home's estimated value after the work is finished, whichever is less. A $7,500 minimum rehabilitation amount is necessary. Rehabilitation costs include cost of repairs, inspection fees, title update fees and required contingency reserve equal to 10 percent of the total rehabilitation cost.

A Home for the Brave Program

Veterans of the U.S. armed services and active-duty military can get an affordable mortgage with a low down payment. Spouses of soldiers, sailors or Marines killed in active duty also are eligible. Financing of up to 97 percent is available for single-family homes and condominiums. Financing of 95 percent is available for two-, three- and four-family homes. Closing cost assistance also is available. In addition, grants from the Veterans Administration are available for disabled veterans who need to make accessibility upgrades.

Operation Welcome Home

This mortgage program supports veterans, active-duty military and members of the Reserves or National Gard, as well as Gold Star families. It combines a 97% loan-to-value mortgage with a zero-interest deferred down payment and/or closing cost assistance loan of up to 3% of the mortgage amount. Borrower or lender-paid mortgage insurance options are available.

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Massachusetts
website
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Check current Massachusetts mortgage rates
Michigan

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MichiganProgram description
MI First Home Program

First-time homebuyers (and repeat buyers purchasing in a "target area") can get 30-year, fixed-rate mortgage. To qualify, homes must be both single family and the borrower's primary residence. Qualified borrowers receive down-payment assistance in the form of a second mortgage up to $7,500 when they complete a required homebuyer education course. A statewide sales price limit of $224,500 and minimum credit score of 640 applies.

MI Next Home Program

The Next Home Program is just like the First Home Program but specifically designed for repeat buyers. Customers may also access down payment assistance.

Mortgage Credit Certificate (MCC) Program

First-time borrowers and repeat buyers in target areas can qualify to have 20 percent of their paid annual mortgage interest credited against their annual tax liability. The credit is available each year of the mortgage term, up to 30 years. The program ends once the original mortgage is paid in full. Homebuyers must meet income and purchase-price limits.

Individual Development Accounts (IDA)

Low-income families can use these matched savings accounts to help fund the purchase of a first home, pay for post-secondary education, or to start a small business. Participants make an average deposit of $20 per month to establish a savings account at a local financial institution. The Michigan IDA Partnership matches $1,000 of a participant's savings at a ratio of 3-to-1 for home purchases. To qualify, individuals must meet various income criteria.

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Michigan
website
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Minnesota

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MinnesotaProgram description
Start Up Program First-time homebuyers can get a home loan at an affordable rate through this program. To be eligible, buyers must have a credit score of at least 640 and meet income and purchase price limits, and qualify for FHA, VA, USDA or Conventional financing. Eligible borrowers can also qualify for down-payment assistance and a mortgage credit certificate.
Step Up Program Repeat homebuyers can qualify for a purchase loan similar to the Start Up Program. These 30-year fixed-rate mortgages are available with as little as 3 percent down. Repeat buyers are also eligible for down payment and closing cost assistance of up to $12,000 in the Monthly Payment Loan Program.
Monthly Payment Loan Program The Start Up and MCC programs are eligible for this down-payment assistance, which is the greater of up to $12,000. Loans have 10-year terms with monthly payments; the interest rate is equal to the rate on the first mortgage. To qualify, borrowers must have a minimum credit score of 640, must meet purchase price and income limits associated with the Start Up Program, and the borrower must contribute $1,000 or 1% of the purchase price, whichever is less.
Mortgage Credit Certificate Program First-time homebuyers can claim 35 percent of their annual mortgage interest as a tax credit on their federal return for a total savings of up to $2,000 a year. The MCC program can be combined with the Start Up Program.
Deferred Payment Loan Program Borrowers who use the Start Up Program may be eligible for two loan options under the “Deferred” down-payment assistance plan: the Deferred Payment Loan (amounts up to $8,000) and the Deferred Payment Loan Plus (amounts up to $10,000 for borrowers who meeting “targeting criteria”). Loan terms are equal to the first mortgage and come with 0 percent interest. Loans are to be repaid when the property is sold or refinanced, or when it no longer serves as the borrower's primary residence. Qualifying homebuyers must have a minimum credit score of 640.
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Minnesota
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Mississippi

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MississippiProgram description
Smart Solution Program First-time buyers can borrowers can get a 30-year, fixed-rate mortgage at “competitive” interest rates. Conventional borrowers can put as little as 3 percent down and still get “low mortgage insurance premiums.” However, A minimum credit score of 620 is required for all loans. The home must be the primary residence and borrowers cannot earn over $80,000. Smart Solution can be coupled with a Mortgage Credit Certificate.
Smart Solution Second Program Low- and moderate-income first-time homebuyers can get down payment help for their first mortgages (FHA, VA or USDA-backed mortgages only) via a second mortgage. The second lien is a 10-year, fixed-rate loan with the same interest rate as the first-lien position Smart Solution mortgage. The maximum amount of assistance is 3 percent of the loan amount, and the money can be used for down payment and closing costs but no pre-paid fees. To be eligible, income cannot exceed county limits, and borrowers must meet credit requirements.
Smart Solution Plus Program This new down-payment assistance program offers a 4 percent grant that does not need to be repaid. This program has “no deed restriction” and this program is “easier for borrowers to qualify.” Whether government-backed or conventional, mortgages in the Plus program have above-market interest rates.
Mortgage Credit Certificate This program reduces the federal income tax liability by allowing borrowers to take a credit equal to 40 percent of the annual interest paid on a mortgage. The tax credit cannot exceed $2,000 per year. Mississippi Housing Corporation (mortgage revenue) bond financing is not eligible to be paired with the MCC program. Properties must be single-family residences. Borrowers must use the property as their primary residence, and must pay a $300 nonrefundable reservation fee.
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Mississippi
website
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Check current Mississippi mortgage rates
Missouri

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MissouriProgram description
First Place Loan Program This program offers 30-year, fixed-rate mortgages to first-time homebuyers. Veterans are also eligible and do not need to be first-time purchasers. Homebuyers must meet minimum credit score standards, and must fall within income and purchase limits for their area of residence. Borrowers must occupy homes within 60 days of closing. Loans may be subject to federal recapture tax provisions. Down-payment assistance can be used in conjunction with the First Place Program.
Cash Assistance Payment Program First-time homebuyers get a grant of 4 percent of the loan amount to use for down payment and closing costs. While no junk fees are allowed to be charged, lenders can apply “standard” closing costs. There are income and purchase price limits.
Non Cash Assistance Payment Program This program offers lower interest rates for borrowers in the First Place Program who do not require down-payment assistance. This non-CAP program carries a lower interest rate than does the CAP program.
Mortgage Credit Certificate Program A MCC allows borrowers to use a portion of their annual mortgage interest as a nonrefundable federal tax credit. Credits are available to low- and moderate-income first-time homebuyers, and are worth 25 percent, up to a maximum of $2,000 annually. The credit is good for the life of the loan, and the homebuyer can carry forward any unused portion of the credit for up to three years or until it is used up, which arrives first.
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Missouri
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Check current Missouri mortgage rates
Montana

Number of Programs

7

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
MontanaProgram description
80% Combined Program This program is designed to offer an alternative purchase loan option to first-time homebuyers in areas that do not qualify for Rural Development (RD) loans. Eligible borrowers can put less than 20 percent down but do not have to pay mortgage insurance because of an amortizing second loan. Buyers must contribute at least $1,000 and have a credit score of at least 640. There are income and purchase price limits, and all borrowers must complete homebuyer education and consent to early default counseling.
Score Advantage Down Payment Assistance Program For those who qualify for a Montana purchase loan can also qualify for down payment assistance. The Score Advantage program offers assistance as a 15-year fixed-rate amortizing second mortgage up of up to 5 percent of the purchase price, capped at a maximum $6,500 (minimum $1,500). Interest rates on this second mortgage vary based on a borrower’s credit score. Home buyers must invest a minimum of $1,000 of their own funds in the purchase, but this can be in the form of gifted funds.
Montana Board of Investments Residential Loan Program Funded by state’s Coal Tax Trust Fund, this program is unlike many of the other state programs we have seen in the sense that the BOI program is open to all buyers, has no income limits or investment restrictions, can be conventional, FHA or RD and offers terms of 15, 20 or 30 years. Interest rates may be above open-market mortgage rates.
Disabled Accessible Affordable Homeownership Program (DAAHP) This program was designed to construct, acquire or rehabilitate homes for first-time buyers with a permanent disability. The interest rate on the loan varies between 2.75 percent and 5 percent depending upon income. Borrowers must contribute at least $1,000. Down-payment assistance may be used in conjunction with this program. These 30-year fixed-rate loans will be backed by VA, FHA or USDA.
Habitat for Humanity Loan Program Credit-worthy first-time homebuyers purchasing a primary residence can qualify for a fixed first mortgage at 2 percent and a “Wrap around Habitat Second loan” at 0 percent. There are purchase-price limits, and loans will be underwritten to either FHA or USDA standards. Income limits apply, but there are no asset restrictions.
Montana Veterans' Home Loan Program As a way to honor all service men and women in the state of Montana who are first-time home buyers, the Veterans' Home Loan program was created. This program offers qualified veterans a first mortgage rate that is a full 1 percent below the current market interest rates. Qualified borrowers must contribute at least $2,500 of their own funds. There are no income or asset restrictions, but there are purchase price limits and condominiums are not eligible. This can be coupled with a mortgage credit certificate.
Mortgage Credit Certificate Program The MCC allows eligible first-time homebuyers to receive a tax credit of up to 20 percent of the annual interest paid on their mortgage up to $2,000. According to the official website, “Borrowers can file an amended withholding statement with their employer, and increase their monthly take-home pay by the amount of the credit. This additional income can be used to help qualify a borrower for a loan.”
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Nebraska

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
NebraskaProgram description
First Home Plus Program First Home Plus provides flexible, “low” interest rates to make purchasing a home more attainable. The minimum qualifying credit score is 640 for conventional mortgages and 660 for VA, USDA or FHA-backed loans. If a borrower does not have established credit, they may still qualify. There is a maximum debt to income ratio limit of 45 percent for FHA-backed or 50 percent for conventional. There are no points or origination fees. A homebuyer education course is required.
Homebuyer Assistance Program This low-rate second mortgage loan with a 10-year term allows first-time buyers to cover down payment and closing costs. Amounts are available up to 5 percent of the purchase price of the home, but borrowers must contribute at least $1,000 of their own funds towards the transaction. The minimum qualifying credit score is 640 for conventional mortgages and 660 for FHA-backed. Homebuyers are responsible for the principal and interest payments on the second loan.
Military Home Program Active military members or qualified veterans who are first-time homebuyers can apply for a government-backed 30-year fixed-rate mortgage with a below-market interest rate. The minimum qualifying credit score is 640 for conventional mortgages and 660 for FHA-backed. There is a maximum debt to income ratio limit of 45 percent. There are no points or origination fees..
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Nevada

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
NevadaProgram description
Home Is Possible Program The Nevada Home Is Possible program combines a 30-year fixed-rate mortgage with a grant to help cover down payment and closing costs. The amount of the non-repayable grant is 4 percent if coupled with a government-backed loan or 5 percent with a conventional loan. The program isn't limited to first-time homebuyers, and there are no asset limits or restrictions. A minimum credit score 640 for government insured and most conventional loans is required. Qualifying income on the mortgage application must be below $98,500 and the home price below $400,000. Manufactured housing loans are available, and there is a one time fee of $675. This program can be combined with the Mortgage Tac Credit Certificate (MCC) Program as the "HIP Plus" program.
Home Is Possible For Heros Program Offering a "below market interest rate" for veterans and military personnel, this program is available for eligible vets who meet the criteria of the Home Is Possible program. A homebuyer education course required and the borrower must meet standard underwriting requirements. This Heros Program can be combined with a mortgage credit certificate for maximum savings and there are discounted program fees.
Home Is Possible For Teachers Program Limited to 300 mortgage loans made to licensed full-time K-12 public school teacher in Nevada on a first-come, first-served basis, this below market 30-year fixed rate mortgage also comes with up to $10,000 in bonus money that can be used for a down payment or closing costs, and the loan is forgiven if you remain in the home for five years. There is no first-time homebuyer requirement, the program can be combined with the Mortgage Credit Certificate (MCC) program with discounted program fees. There are income and purchase price limits and a minimum 660 FICO score.
Mortgage Tax Credit Certificate Program The MTC program allows first-time homebuyers to claim a federal income tax credit equal to 30 percent of the interest paid on a mortgage loan (up to $2,000 a year). There are income and purchase price limits, and there is a one-time program fee of $795 plus $300 a lender application fee.
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Nevada
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New Hampshire

Number of Programs

7

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
New HampshireProgram description
Home Preferred Program This 30-year fixed-rate loan with 0 points offers a mortgage insurance discount to help keep monthly payments low. Buyers can finance condominiums, single-family and one-to-four unit properties. Borrowers must prove their creditworthiness, must meet income limits determined by area and complete homebuyer education.
Home Preferred No MI Program This 30-year fixed-rate loan with 0 points eliminates the need for mortgage insurance. Borrowers must prove their creditworthiness, must meet income limits determined by area and complete homebuyer education. Buyers can finance condominiums, single-family and one-to-four unit properties.
Home Flex Plus Down Payment Program This down payment and closing cost assistance program for government-insured loans provides 3 percent of the loan amount and does not need to be repaid. Flexible underwriting guidelines apply.
Home Flex Purchase Rehab This first mortgage loan is geared towards borrowers, first-time or repeat, that anticipating incurring renovation costs. The purchase rehab program allows borrowers to borrow up to $35,000 for renovations. The qualifying terms for the Home Flex Purchase Rehab vary which means speaking to a representative directly will provide the most clarity. This program can be combined with the Home Flex Plus Program.
Home Start Homebuyer Tax Credit Program This mortgage credit certificate program is an annual tax credit of 10 percent to as much as 50 percent of the interest you pay on your new mortgage, capped at $2,000 each year for the life of the original mortgage, as long as you live in the home. You must meet certain income and home purchase price limits to be eligible.
Home Flex Streamline Refinancing If you currently have a loan that is government insured through Rural Development (USDA/RD), the Veterans Administration (VA), or the Federal Housing Administration (FHA) then you may qualify for Home Flex Streamline refinancing. Home Flex Streamline refinancing features low interest rates and no appraisal requirements. This product is only available for owner-occupied, principal residence properties.
Home Preferred Refinancing New Hampshire Housing is now able to offer a conventional refinancing option that offers up to 97% loan-to-value (LTV) with a “preferred” low mortgage insurance coverage requirement. With the Home Preferred product borrowers are allowed limited cash out. This product is only allowed on owner-occupied, principal residences.
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New Hampshire
website
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New Jersey

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
New JerseyProgram description
First-Time Homebuyer Program New Jersey offers what it describes as “below-market” interest rates with zero points on 30-year loans for single family and multi-family homes. Borrowers are subject to purchase price and income limits. Borrowers can put as little as 3.5 percent down, but the down payment funds must come from the borrower. However, at least a portion of the closing costs can be gifted or provided from someone other than the borrower. The debt-to-income ratio for housing debt can be as high as 33 percent, and up to as high as 38 percent if counting total debts.
Homeward Bound This program is open to first-time homebuyers, those looking to upgrade to a larger home (trade up) and those looking to downsize to a smaller home (trade down). The underlying mortgage is a 30-year fixed-rate with no points. The home must be your primary residence. For first-time homebuyers, Homeward Bound is the foundational mortgage program that can be combined with the HomeSeeker or Smart Start programs, to provide either $16,000 OR up to 4% of your mortgage amount in interest-free, forgivable funding that can be used to cover downpayment and/or closing costs, but both income and location restrictions apply.
Smart Start Program If you are enrolled in the First-Time Homebuyer Program you can utilize the Smart Start program to borrow a second mortgage to cover down payment and closing costs of up to 4 percent of the first mortgage in “Smart Growth Areas” across the state. This loan is forgiven after 5 years, but if the home is sold or refinanced before 60 months is reached, a pro-rated amount must be repaid.
Police and Firefighter Retirement System Mortgage Program Members of the Police and Firefighter Retirement System Mortgage Program (PFRS) with at least one year of service can qualify to buy a home with a maximum mortgage amount of $424,100. Loans can be originated with an 80% LTV first mortgage and a combination of downpayment and second mortgage financing equal to 20% of the sales price. Second mortgages must not exceed 15% of the LTV. The loan had a fixed rate and is based on the 10 year Treasury bill plus 1%. Interest rates are set semi-annually in February and August.
Purchase/Rehab Mortgage Program Qualified first-time buyers can receive a loan at below-market interest rates to purchase and rehabilitate a home. The rules state, “Seventy-five percent of the home's existing external walls and interior structural framework must remain in place as part of the rehabilitation.” Borrowers must meet FHA 203(K) qualifications, and the purchase and income limitations associated with this program.
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New Jersey
website
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Check current New Jersey mortgage rates
New Mexico

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
New MexicoProgram description
First Home Program This purchase program offers first-time homebuyers a first mortgage at “competitive interest rates.” Borrowers must have a FICO score of at least 620 and commit $500 of their own funds to the transaction. The benefits to this program can consist of lower monthly payments and lower up-front costs. No origination or discount fees are charged with these loans. Income and purchase-price limits do apply, borrowers must have a credit score of at least 620 and be purchasing a single-family residence. The First Home Program can be used in conjunction with New Mexico’s down-payment assistance program, “First Down.”
First Down Program As a vehicle to provide down-payment and closing-cost assistance, this program consists of a 30-year, second mortgage at “a low interest rate” (6 percent). First Down is aimed at low and moderate-income borrowers. The maximum loan amount is $8,000. Income and purchase-price limits apply. To participate in either First Down, borrowers must contribute a minimum of $500.
Next Home Program Next Home is a purchase and down-payment assistance program that allows both first-time and repeat borrowers the chance at homebuying assistance. Given that repeat buyers are the target audience, the income limit ($90,000) and purchase-price limits ($350,000) are higher than those in the First Home Program. The down-payment assistance comes in the form of a 3 percent grant that does not need to be repaid. A FICO score of 620 or above is required and borrowers must contribute a minimum of $500 to the deal.
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New York

Number of Programs

10

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
New YorkProgram description
Conventional Plus Program The Conventional Plus Program is for both first-time homebuyers and repeat buyers alike. This program features a conventional 30-year fixed-rate mortgage combined with down-payment assistance up to 3 percent of the purchase price. Borrowers must have a job, good credit and assets to cover at least a portion of the down payment and/or closing costs. Borrowers must meet income limits.
FHA Plus Program This program offers a 30-year fixed-rate FHA mortgage combined with down-payment assistance. Borrowers must contribute at least 1 percent of the loan amount towards the down payment; the other 2.5 percent can come from down payment assistance or other acceptable FHA sources. Borrowers must have a job, good credit and meet income and purchase price limits, and there is a minimum 640 FICO score required.
Down Payment Assistance Loan Program This down-payment-assistance program can be paired with many of the programs listed above. This second loan ranges from $1,000 to $15,000 depending on circumstance. The payments are deferred, and after 10 years of homeownership the loan will be completely forgiven. The interest rate for first mortgages that have DPAL assistance will be 0.375 percent higher than the interest rate for loans without down-payment assistance, except on the Homes for Veterans and EnergyStar Programs. A new wrinkle to this program: “The SONYMA DPAL can now be used to pay all or a portion of a one-time mortgage insurance premium, if applicable, thus significantly reducing your monthly mortgage payment.”
Homes for Veterans Program The Home for Veterans Program often offers interest rates lower than the state’s “standard rates.” Homes for Veterans is coupled with down-payment assistance of up to 3 percent of the purchase prices, capped $15,000. Borrowers do need to contribute a minimum 1 percent toward the down payment or closing costs to be eligible.
Remodel New York Program First-time homebuyers interested in buying homes that need restoration should look into Remodel New York. Financing for the purchase price of the home and the cost of estimated renovations can be covered up to 97 percent; the remaining 3 percent can come either from the borrower or in the form of the down payment assistance program (up to 3 percent of the purchase price by capped at $15,000). Allowable repairs or improvements include structural alterations and reconstruction, changes for improved functions and modernization, elimination of health and safety hazards and many other reasons. There must be a $1,000 minimum amount of repairs, but there is no declared maximum amount.
Achieving the Dream Program The Achieving the Dream Program is geared towards low-income first-time homebuyers. The 30-year loan offers “lower” interest rates which can be used to finance one and two-family properties (which include condos, co-ops, and manufactured homes “attached to real property”). There are no prepayment penalties through this program. Additionally, down-payment assistance can be provided up to $15,000. A borrower cash contribution requirement of 1% of the value of the property (3% for cooperatives) or required.
Construction Incentive Program The Construction Incentive Program is for qualified first-time homebuyers who purchase newly constructed or rehabilitated homes. The Incentive program is a 30-year fixed-rate mortgage with a longer term rate-lock period to help alleviate interest-rate uncertainty during the closing process. Down payment assistance of $3,000 or 3% of the home purchase price (not to exceed $15,000) can be paired with this program.
Low Interest Rate Program First-time homebuyers can take advantage of the Low Interest Rate Program which offers “competitive fixed rates” on low-down-payment mortgage financing. Income and purchase price rates will be assessed depending on where in New York a homebuyer is purchasing. Buyers can finance up to 97 percent of the home’s value.
Federal Recapture Tax Reimbursement Program Borrowers who utilize mortgage financing from one of New York’s various programs or through an MCC will be reimbursed for what they pay in federal recapture tax when they sell their home.
Energy Star Label Homes Program For brand new, energy-efficient construction that meets Energy Star Label requirements, New York offers interest rates that are 0.375 percent lower than their standard rates for first mortgage loans. As with other SONYMA programs, down-payment assistance is capped at $15,000, and this program can be coupled with Construction Incentive or Achieving the Dream programs.
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North Carolina

Number of Programs

2

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
North CarolinaProgram description
N.C. Home Advantage Mortgage Program For both first-time and move-up home buyers, the NC Home Advantage Mortgage provides qualified individuals with stable, fixed-rate mortgages and down payment assistance up to 5% of the loan amount. Even better, repayment of the down payment is required only if you sell, refinance or transfer your home before year 15—the down payment assistance is forgiven at 20% per year after 10 years in the home. Eligibility requirements include an annual income of not more than $87,500 and a FICO credit score of at least 640.
Mortgage Credit Certificate If you qualify, North Carolina's MCC program allows you to claim a federal tax credit for 30% of the interest you pay on an existing home (50% on new construction). This is capped at a maximum of $2,000 per year for every year you live in your home.
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North Dakota

Number of Programs

6

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
North DakotaProgram description
FirstHome Program First-time homebuyers can qualify for reduced interest rates if they meet income and property limits and can qualify under normal credit underwriting requirements. The borrower is required to make a $500 out-of-pocket cash investment into the transaction. There are income and purchase price limits. The first mortgage can be conventional, USDA or FHA-backed.
HomeAccess Program The HomeAccess Program provides low-rate mortgage loans to single parents, veterans, the disabled and/or the elderly. The program is not exclusive to first-time homebuyers, rather is focused on families that may be overcoming hardships. The borrower is required to make a $500 out-of-pocket cash investment into the transaction. There are income and purchase price limits.
Start Program The Start Program aids low-to-moderate income borrowers with down payment and closing costs. This assistance can be used in conjunction with FirstHome, HomeAccess, North Dakota Roots and Major Home Improvement programs. The help consists a second lien of up to to 3 percent of the first mortgage; payments are incorporated into the first mortgage, which will be priced a half percentage point higher than a loan without assistance. The lien is forgiven after 96 payments have been made on the first mortgage, but if the home is sold or refinanced before this time, a pro-rated amount must be paid back. Start cannot be used in conjunction with other down-payment-assistance programs.
Down Payment and Closing Cost Assistance Program The DCA Program helps borrowers by providing zero interest, deferred-payment second mortgage of up to 3 percent of the purchase amount to help with down payment and closing costs. DCA cannot be used with other down payment assistance programs, but must be coupled with FirstHome, HomeAccess or Major Home Improvement mortgages. Income and purchase-price limits apply, and borrowers must put at least $500 towards the transaction.
North Dakota Roots Program Specific to moderate-income North Dakotans, the Roots program offers borrower’s two options: Either an exceptionally low interest rate loan, or a market-rate loan that is coupled with down-payment and closing-cost assistance. This is not a first-time homebuyer program. The borrower is required to make a $500 out-of-pocket cash investment into the transaction. The first mortgage can be conventional, USDA or FHA-backed.
Major Home Improvement Program This program provides reduced-rate loans for purchase and rehab and refinance and rehabilitate homes. There are income and property limits and borrowers can qualify by meeting normal credit underwriting requirements. The borrower is required to make a $500 out-of-pocket cash investment into the transaction. There are income and purchase price limits.
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Ohio

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
OhioProgram description
Down Payment Assistance Program Ohio offers first-time homebuyers a second mortgage of either 2.5 percent or 5 percent of the purchase price in the form of a 0 percent loan with no payments that is forgiven after seven years. If the home is sold, refinanced or transferred the amount received must be paid back. Borrowers must have a minimum 640 FICO score. Borrowers who select 2.5 percent in assistance will incur an interest rate on their first mortgage that is 0.5 percent above loans with no assistance; borrowers selecting 5 percent help receive an interest rate that is 1 percent above loans with no assistance.
Next Home Program The Next Home Program was created for homebuyers that have purchased real estate before. This product is a 30-year fixed-rate mortgage, and as with the first-time homebuyer programs, participants in the Next Home Program must meet income and purchase price limits. The minimum credit score to qualify is 640. All Next Home mortgages are bundled with down payment assistance.
Ohio Heroes Program The Heroes Program rewards qualifying professionals with 30-year fixed-rate loans with interest rates 0.25 percent lower than the market standard, regardless of whether or not the loan is combined with down payment assistance. Qualifying professions include: active military and veterans, fire fighter/EMT/paramedic, health care workers, police officers, teachers.
Grants for Grads Program Borrowers must be first-time homebuyers with a FICO score of 640 or above that have completed an associate’s, bachelor’s, master’s or doctorate degree within the last 24 months. The downpayment and closing cost assistance grant, which does not need to be paid back, can be a choice of 2.5 percent or 5 percent of the purchase price. The loan is forgivable after seven years.
Mortgage Tax Credit Program First-time homebuyers can qualify for the Mortgage Tax Credit to reduce the federal income tax they owe. Borrowers can deduct up to 40 percent (depending on property type) of the mortgage interest they pay per year. There credit tops out at $2,000.
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Oklahoma

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
OklahomaProgram description
OHFA Dream Program For this program, there is no stringent first-time buyer requirement. The Dream Program offers a grant worth 3.5 percent of the loan amount for down-payment assistance. The maximum purchase price is $275,665, which is the highest limit of all the OHFA programs. There are income limits which vary by county and family size. A minimum FICO score of 640 for loans up to 95 percent LTV; above 95 percent, a FICO 680 is required.
OHFA Gold Program The Gold program has a first-time buyer requirement. Similarly to the Dream Program, 3.5 percent of the loan value will be awarded as a down payment assistance grant. The maximum qualifying purchase price is $214,925. There are income limits which vary by county and family size.
OHFA 4 Teachers Program OHFA 4 Teachers is exclusive to educators who are first-time homebuyers. The low-interest-rate program offers a down payment grant of 3.5 percent of the loan amount. The maximum purchase price is $214,925. A borrower must have an Oklahoma teacher’s certificate and be employed at any Oklahoma public school district or accredited private or parochial school. Other employees of the school system whose jobs require certification may also be eligible.
OHFA Shield Program OHFA Shield is virtually identical to the OHFA Gold and the OHFA 4 Teachers program but is designed specifically for law enforcement and fire fighters of an Oklahoma municipality.
OHFA MCC Program A borrower is able to claim a federal tax credit equal to 40 percent of their mortgage interest, capped at a maximum of $2,000 per year. Down payment grants cannot be paired with mortgage credit certificates in Oklahoma; as with other programs the maximum purchase price is $214,925.
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Oregon

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
OregonProgram description
CashAdvantage Program This first-time buyer program gives you a low fixed interest rate, plus 3 percent of your loan amount as a non-repayable gift toward your down payment or closing costs. The maximum purchase price varies by county. If borrowers utilize an FHA loan as part of this program, the 3 percent the program provides cannot be used to meet the minimum down-payment requirements.
RateAdvantage Home Loan This first-time buyer program gives you the "lowest possible" fixed interest rate, but no down payment or closing costs assistance. The maximum purchase price varies by county.
Down Payment Assistance Available in select counties. Program funds are awarded to qualified local organizations who are then able to create, continue and expand their existing down payment assistance programs. Homebuyers, who have completed a homeownership education program, may qualify for up to $15,000.00 for down payment and/or closing costs. The awards are funded by the state's document recording fee, which are used to expand the state's supply of homeownership housing for low-and very low-income families and individuals, with particular focus on underserved populations.
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Pennsylvania

Number of Programs

11

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
PennsylvaniaProgram description
Keystone Home Loan Program To be eligible, you and any other adults who will live in your home must be first-time home buyers, meaning you cannot have owned a home within the last three years. These requirements can be waived if you buy a home in a targeted area or you're a discharged U.S. military veteran. Purchase price and income limits apply. You must have an acceptable credit history, ability to repay your loan and sufficient funds for an application fee, closing costs and down payment based on the purchase price of your home. Whether you'll have to pay mortgage insurance will depend on your choice of conventional, USDA, VA or FHA-backed financing.
Keystone Advantage Assistance Loan Program This down-payment-assistance loan, which can be paired with Pennsylvania’s purchase programs, can help cover down payment and closing costs of up to 4 percent of the of the purchase price (maximum $6,000) in the form of a second mortgage at a 0 percent interest rates. This loan is repaid over a 10 year term. Borrowers must have a credit score of at least 660, and cannot have liquid assets of more than $50,000.
HFA Preferred Risk Sharing (No MI) The No MI program offers a conventional mortgage with a 30-year fixed-rate term, structured so you won't have to pay mortgage insurance (MI) even if your down payment is less than 20 percent of your home's purchase price. Instead, your loan might have a slightly higher interest rate. To be eligible, you must have an acceptable credit history and ability to make mortgage payments, which will be not more than 30 percent of of your income, and there are income limits based upon household size and location. You'll have to pay an application fee and closing costs and contribute at least $1,000 of your own money toward your down payment. The remaining funds can be a gift or from a down payment assistance program.
HFA Preferred (Lo MI) The Lo MI program also offers a conventional mortgage with a 30-year fixed-rate term, but you will need to pay for mortgage insurance if your down payment is less than 20 percent. To be eligible, borrowers must meet the same requirements listed for the Preferred Risk Sharing Program.
ACCESS Home Modification Program Made in conjunction with a Keystone Home Loan or Keystone Government Loan, this program offers an interest-free deferred-payment loan to those who have a permanent disability or live with a family member who has a one and need funds to make accessibility modifications to a home they wish to buy. This program provides a deferred payment loan, with no interest, and no monthly payment; the loan becomes due and payable upon sale, transfer, or non-owner occupancy of the property. There are no fees associated with the loan; the minimum loan amount is $1,000 and the maximum is $10,000. Home modifications must meet the needs of the person who has a physical disability and will live in the home. Examples include bathroom modifications, installation of grab bars and handrails, lifting devices, adding a main-level bathroom or bedroom, widening doorways or hallways and other such changes.
Access Downpayment and Closing Cost Assistance Program This program can only be coupled with the ACCESS Home Modification program and and whose gross, annual household income does not exceed 80 percent of statewide family median income. The program offers an interest-free deferred-payment second loan to people who have a permanent disability or live with a family member who has a permanent disability. The minimum loan amount is $1,000. The maximum is $15,000. This loan will become due and payable if you move out of your home or sell or transfer it to another owner. The amount of assistance is based on the borrower’s need. For any first mortgage with a loan-to-value greater than 80% (except RD and VA), the borrower is required to contribute the lesser of $1,000 or 1% of the loan amount from their own verifiable funds, and the borrower can have and have liquid assets of no more than $5,000.
HOMEstead Downpayment and Closing Cost Assistance Loan Program Homebuyers eligible for the HOMEstead program may qualify for up to $10,000 in downpayment and closing cost assistance in the form of a no-interest, second mortgage loan. HOMEstead funds are forgiven at 20 percent per year over five years for all loans closed on or after January 1, 2007. The minimum loan amount is $1,000; the maximum is $10,000. For all loans with loan-to-values greater than 80% (except RD and VA), the borrower is required to contribute the lesser of $1,000 or 1% of the loan amount from their own verifiable funds.
Renovate and Repair Loan Program Homeowners can borrow up to a maximum of $35,000 or 120 percent of the home's value for approved home repairs or renovations of their primary residence (minimum of $2,500) in the form of a 10, 15, or 20-year fixed rate loan. Borrowers must have credit score of at least 620, but households can have a combined income no greater than 150 percent of the state’s median income. R&R loans can be a source of payment for emergency repairs to critical life–safety systems in the homes, as long as the loan application is made to the Local Program Administrator within 30 days of the repair.
Purchase Improvement Loan Program Coupled with the Keystone Home Loan Program, this program allows buyers to combine a Keystone Home Loan with additional funds for home repairs or improvements. The minimum additional loan amount is $1,000. The maximum is $15,000. The home's purchase price is subject to limits and the appraised value after completion must support the cost of the repairs. The repairs might include plumbing or electric systems, improved heating or air-conditioning systems, addition of living space, kitchen or bathroom renovation, roof replacement or energy conservation or solar energy improvements. Up to of three inspection fees of up to $75 each may be included in the repair costs.
Employer Assisted Housing (EAH) Initiative This program offers homebuyers working for a “Participating EAH Employer” (there are 49) with a 30-year fixed-rate loan and down-payment assistance. The down-payment assistance comes in the form of an interest-free 10-year loan of up to $8,000. This program targets “community employees, medical personnel, school employees, police and fire personnel, county workers, laborers, service industry staff, etc.” Borrowers must meet the qualifications of the Keystone Advantage Program.
Mortgage Credit Certificate The Mortgage Credit Certificate allows homebuyers to claim a tax credit of 20-50 percent (20%-50%) of the mortgage interest paid per year, capped at $2,000 annually. It is a dollar-for-dollar reduction against your federal tax liability; the percentage amount you can deduct depends on your annual income. The MCC can be used in conjunction with HFA Preferred and Keystone Government programs.
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Rhode Island

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
Rhode IslandProgram description
FirstHomes 100 Program The FirstHomes 100 Program offers a low fixed-rate 30-year mortgage for first-time buyers. Financing is up to 100 percent of the home's value, so you won't need to make a down payment. Help with closing costs is also an option. No mortgage insurance is required. Closing-cost assistance is available in the form of a 15-year low-interest-rate loan. Borrowers also qualify for a mortgage credit certificate. There are income and purchase price limitations.
FirstHomes 100+ Program The FirstHomes 100+ Program allows you to add home repair costs to your FirstHomes 100 loan. Financing is up to 110 percent after the improvements have been completed. Closing-cost assistance is available in the form of a 15-year low-interest-rate loan. Borrowers also qualify for a mortgage credit certificate.
FirstHomes Tax Credit Program This mortgage credit certificate (MCC) program provides qualified first-time Rhode Island homebuyers and those buying in targeted areas of the state with a tax credit of 20% of the total mortgage interest amount paid each year, capped at a maximum $2,000. The borrower must own and occupy the home as their principal residence, and there are both income and purchase prices limitations.
Beyond FirstHomes Program The Beyond FirstHomes Program offers a low fixed-rate mortgage for existing homeowners who want to buy a new home. Financing is up to 97 percent, so you'll have to make a down payment of at least 3 percent. Mortgage insurance isn't required. You can also refinance an existing mortgage into a Beyond FirstHomes mortgage.
LastingHomes Program These include home equity loans made to existing FirstHomes or Beyond First Homes customers feature no application, title, credit report or appraisal fees, offer loans from $5,000 to $60,000 and have loan terms that range from 5 to 20 years. LastingHomes home repair loans are open to all Rhode Island homeowners, but you must meet income requirements. Home repair loans are available in amounts of up to $25,000 with terms of up to 20 years to repay.
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South Carolina

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
South CarolinaProgram description
Homeownership program This first-time buyer program centers on down-payment assistance in conjunction with a fixed-rate first mortgage (conventional, FHA, USDA) at a competitive market rate for low-to-moderate income homebuyers. However, the first time homebuyer requirement is currently waived in 32 South Carolina counties and for eligible Veterans, Single Parents, and Families with Disabilities. Borrowers can qualify for up to $6,000 in down-payment or closing-cost assistance. If you are above 80 percent of the median income in your area, the money comes in the form of a repayable second mortgage loan. If you are at or below the 80 percent of the median income in your area, the loan is a forgivable second mortgage. FHA-backed loans require a 620 FICO score; USDA or conventional mortgages require a FICO 640, and conventional mortgages have reduced mortgage insurance costs.
Extended Lock with Rate Float Down Option for New Construction Program This first-time buyer program provides an extended rate-lock period of up to 120 days and allows up to one "float down" if interest rates should decline during the lock period for a newly-constructed home. The extended lock is subject to the same income requirements and home price limits as the Homeownership Program.
SC Mortgage Tax Credit This program offers home buyers a federal income tax credit up to $2,000 per year. The amount of the credit is equal to 30 percent of the mortgage interest paid each year that you keep your loan. The credit costs $500, which may be paid by the seller. The lender may charge a $200 processing fee.
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South Dakota

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
South DakotaProgram description
Fixed Rate Plus Program For the Fixed Rate Plus Program, South Dakota offers government and conventional loans at low fixed rates to qualifying first-time buyers through their network of lenders, as well as a 3 percent gift to help offset the costs of the down payment and closing costs. Income and purchase price limits apply, and your credit score must be 620 or above.
Repeat Homebuyer Loan Program A program for repeat homebuyers that meet special income and purchase price limits and first-time homebuyers that exceed SDHDA’s First-time Homebuyer requirements. The Fixed Rate Plus program's 3 percent down payment assistance is available for this program. However, this program cannot be used to refinance an existing mortgage, and mortgage credit certificate tax deductions cannot be used with this program.
Mortgage Credit Certificate If you use the tax credit with the First-Time Homebuyer Program, the $750 fee to get the credit will be reduced to $250. The lender may also charge a fee up to $250. If you sell your home within nine years and your household income no longer meets the guidelines, you may be subject to a recapture tax payable to the Internal Revenue Service. If that happens, the state will reimburse you. This tax offset can cover up to 40 percent of the interest you will pay in a given year, but the dollar amount is capped at $2,000.
Governor’s House Program This program sells modestly-priced modular homes to people who meet income restrictions, those who are elderly or have a disability. To be eligible, your household income must be less than $44,030 for two persons, or up to $50,320 for a family of three. If you're younger than 62, your net worth must be less than $90,000 and you must have no more than $70,000 in liquid assets. If you're older than 62, your net worth must be less than $175,000 and you must have no more than $100,000 in liquid assets. The home must be your primary residence.
Community Home Improvement Program (CHIP) The Community Home Improvement Program (CHIP) provides low interest loans for eligible borrowers to improve or repair the borrower's present single family home. The interest rate for CHIP Loans is 2.9%. The total gross annual household income is a maximum of $75,480 for a household of 2 or less or a maximum of $88,060 for a household of 3 or more. CHIP Loans have level monthly payments and are amortized according to underwriting guidelines. Loan amounts and terms are determined on an individual basis. There are no loan-to-value requirements and minimal costs associated with obtaining a CHIP Loan.
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Tennessee

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
TennesseeProgram description
Great Choice Loan Program The Great Choice Plus Program offers first-time and repeat homebuyers a 30-year fixed-rate mortgage (government or conventional). Borrowers must have a minimum credit score of 640, and there are both income and maximum purchase price limits.
Great Choice Plus Program The Great Choice Plus Program couples those who qualify for a Great Choice mortgage with down-payment and closing-costs assistance in the form of an interest-free, deferred-payment second mortgage of up to 5 percent of the purchase price. This second mortgage must be repaid if you sell your home or refinance, but is forgiven if you remain for the full 30-year term of a Great Choice mortgage.
Homeownership for the Brave Program U.S. military service members who get a loan through the Great Choice Program may also be able to receive a one-half percent discount on their loan's interest rate. This discount is available for VA-backed loans. To be eligible, you must be an active-duty serviceperson or National Guard member, veteran discharged under conditions other than dishonorable, reservist with at least 180 days of active-duty service, spouse of a service member or qualified veteran, or surviving spouse of a service member and qualified veteran.
Take Credit Mortgage Credit Certificate (MCC) The Take Credit MCC Program allows a qualifying first-time homebuyer or veteran a federal tax credit of up to $2,000 per year based on the mortgage interest paid. There are borrower income limits and the home must be a primary residence.
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Texas

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
TexasProgram description
My First Texas Home Program This program offers a 30-year fixed-rate loan with closing-cost and down-payment assistance equal to 5 percent of loan amount (up to $8,000). A minimum credit score of 620 is required. This is designed for low income buyers who need additional assistance. My First Texas Home can be combined with the Mortgage Credit Certificate (MCC).
Texas Mortgage Credit Certificate (MCC) Program Texas Mortgage Credit Certificate (MCC) Program First-time homebuyers with low or moderate incomes are eligible for this program, which helps borrowers lower their tax liability by turning their annual mortgage interest payments into a federal tax credit. The size of the credit is 40 percent of the yearly mortgage interest paid, but cannot exceed $2,000.
Homes for Texas Heros Offered through the State Affordable Housing Corporation (and not through the Texas Department of Housing and Community Affairs), this loan program is designed specifically for allied health faculty member, corrections officer, county jailer, emergency medical services personnel, firefighter, juvenile corrections officer, nursing faculty member, peace officer, professional educator, public security officer and veterans. This is a 30-year, fixed-interest mortgage program with down-payment assistance of 3 percent, 4 percent or 5 percent that does not need to be repaid. There is no first-time buyer requirement. There is also a Mortgage Credit Certificate for those who qualify.
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Texas
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Utah

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
UtahProgram description
FirstHome Loan Program This program is open to first-time homebuyers who can borrow 6 percent of their first mortgage loan to use for down the payment and closing costs. Down-payment assistance is in the form of a 30-year, fixed-rate loan with an interest rate 2 percent higher than the rate on the first mortgage. FHA or VA loans are available. Borrowers must have a minimum credit score of 660. Homes must be owner-occupied. No education class is required.
HomeAgain Loan Program This program is open to first-time homebuyers and repeat buyers, who can borrow 6 percent of the total on their first mortgage loan to use for down payment and closing costs. Down payment assistance is in the form of a 30-year, fixed-rate loan with an interest rate 2 percent higher than the rate on the first mortgage. FHA or VA loans are available. Borrowers must have a minimum credit score of 660. Homes must be owner-occupied. No education class is required.
Score Loan Program This program is open to first-time homebuyers and repeat buyers who can borrow 4 percent of the first mortgage loan to use for the down payment and closing costs. Down-payment assistance is in the form of a 30-year, fixed-rate loan with an interest rate 2 percent higher than the rate on the first mortgage. FHA or VA loans are available. Borrowers must have a minimum credit score of 620. Homes must be owner-occupied. Borrowers must complete a homebuyer education class.
NoMI Loan Program This program is open to first-time homebuyers and repeat buyers who can borrow 5 percent of the first mortgage loan to use for the down payment and closing costs. Down-payment assistance is in the form of a 30-year, fixed-rate loan with an interest rate 2 percent higher than the rate on the first mortgage. This program can be combined with the homebuyer tax credit (see below). Fannie Mae conventional loans are available. Borrowers must have a minimum credit score of 700. Homes must be owner-occupied. Borrowers must complete a homebuyer education class.
Interested? Get more help, learn details, find participating lenders
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Utah
website
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Check current Utah mortgage rates
Vermont

Number of Programs

5

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
VermontProgram description
Advantage Program There is no first-time homebuyer requirement in any county for this program. Borrowers can save up to $825 on the Vermont Property Transfer Tax, and Advantage offers lower monthly mortgage insurance payments. ASSIST Down Payment Loans can be paired with this program for up to $5,000 of the loan amount or purchase price. To be eligible, households with two people or fewer cannot have a total gross income of more than $100,000. Households with three or more people cannot exceed $125,000 in income.
MOVE Program This program offers Vermont's lowest rate to homebuyers, and most counties in the state do not require you to be a first-time homebuyer. Borrowers are able to save up to $825 on the Vermont Property Transfer Tax, and MOVE offers lower monthly mortgage insurance payments. However, participants in this program may not use ASSIST down payment grants or the Mortgage Credit Certificate.
MOVE MCC Program This is the only program that allows homebuyers to combine a mortgage loan with a MCC. The MCC program allows borrowers to take a federal tax credit based on the interest they pay each year on their mortgage loan. Borrowers are able to save up to $825 on the Vermont Property Transfer Tax. The MOVE MCC program also has lower monthly mortgage insurance payments. ASSIST loans may be combined with the MCC program for up to $5,000 of the loan amount or purchase price for qualified first-time buyers.
Mortgage Credit Certificates According to vhfa.org, “Mortgage Credit Certificates (MCCs) create an income tax credit equal to 20% of the annual interest paid on a mortgage. VHFA offers Mortgage Credit Certificates combined with a VHFA first mortgage through our MOVE MCC Program” but "VHFA Participating Lenders that offer the MOVE MCC program can also assist you in applying for an MCC for a non-VHFA loan."
ASSIST Down Payment Grant Available to qualifying first-time buyers only, this second mortgage program to cover down payment and closing costs is available in amounts up to $5,000. This is a 0% interest second mortgage with no monthly payment. It is paid off only if the first mortgage is refinanced or the home is sold.
Interested? Get more help, learn details, find participating lenders
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Vermont
website
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Participating lenders Contact for more help
Check current Vermont mortgage rates
Washington D.C.

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
Washington D.C.Program description
Home Purchase Assistance Program

Certain first-time homebuyers can get an interest-free loan and closing cost assistance when purchasing a primary residence. The loan amount is based on income, household size and the assets an applicant commits toward buying a property. Borrowers can receive up to $80,000 in down payment assistance, and up to $4,000 in closing cost help. The program offers zero percent loans that are deferred for the first five years and amortized over 40 years. However, the entire loan amount becomes due if the borrower transfers the property, refinances (unless certain conditions are met) or ceases to use the property as a primary residence. Participants must contribute $500 or 50 percent of liquid assets greater than $3,000, whichever is greater. The requirement for contributions greater than $500 may be waived for some residents with very low incomes.

FHA Plus Program

This FHA loan, offered through D.C.’s network of lenders, offers down payment assistance in the form of a 3.5 percent forgivable subordinate loan at 0 percent. Participants must have an income of no more than $131,040, a minimum credit score of 640, a maximum debt-to-income ratio of 45 percent and a 96.5 percent loan-to-value ratio.

HFA Preferred with DPAL Program

A conventional loan offered through D.C.’s network of lenders that offers down payment assistance in the form of a 3 percent forgivable subordinate loan at a 0 percent interest rate. Participants must have an income of no more than $131,040, a minimum credit score of 640, a maximum debt-to-income ratio of 45 percent and a 97 percent loan-to-value ratio.

Down Payment Assistance Loan

This down-payment loan offers a forgivable, subordinate loan at 0 percent worth 3 percent of the purchase price for conventional loans and 3.5 percent for FHA loans. Income limits apply.

Interested? Get more help, learn details, find participating lenders
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District of Columbia
website
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Check current District of Columbia mortgage rates
Virginia

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
VirginiaProgram description
FHA Plus Loan This loan program gives those who qualify for an FHA loan through the state’s participating lenders the chance to take out a second mortgage to assist with down payment and closing costs. This second loan ranges from the lower of 3.5 percent of the purchase price or appraised value for borrowers with FICO scores of 620 to 679 and 5 percent of the sales price for borrowers with a score above 680. Borrowers need to contribute at least 1 percent of the total sales price. Borrowers must have at least a 620 credit score, and the interest rates for this program are slightly higher than the state’s standard fixed-rate programs..
Down Payment Assistance Grant Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment. Maximum grant will be 2 - 2.5 % of the purchase price, based on the down payment required for the eligible VHDA loan. The minimum credit score needed is 620 for an FHA-backed loan, or 660 for a Fannie Mae offer. The maximum debt-to-income ratio 45 percent, and there are income limits. This Down Payment Assistance Grant may be used with eligible VHDA loans only and may not be used in combination with other down payment assistance resources (including FHA Plus). VHDA's Down Payment Assistance Grant has no repayment.
Mortgage Credit Certificate First-time homebuyers can utilize this tax credit that is “equal to 20 percent of the annual mortgage interest you pay.” This credit is available for the life of the loan. Income and loan limits apply.
Interested? Get more help, learn details, find participating lenders
Visit
Virginia
website
Qualification info Homebuyer classes
Participating lenders For more help, call 800-227-8432
Check current Virginia mortgage rates
Washington

Number of Programs

4

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
WashingtonProgram description
Home Advantage First Mortgage Program Washington's primary first mortgage program is for qualified homebuyers. Borrowers must meet the program income limit of $97,000 and attend a free Commission-sponsored homebuyer education seminar. The following loan types can be used for this loan program: Federal Housing Administration (FHA), Conventional (Fannie Mae), Rural Housing Services (RHS), and Veteran’s Administration (VA). You do not need to be a first-time homebuyer to utilize Home Advantage.
Home Advantage Downpayment Assistance Second Mortgage Program Borrowers who take out a first mortgage loan with Washington State can qualify for down-payment and closing-cost assistance as well. The assistance comes in the form of a deferred second mortgage at 0 percent. This second loan amount is available for to up to 4 percent of the first loan amount, is a 30-year term at 0 percent interest and repaid only when the loan term is reached or the home is sold, refinanced or transferred. There is no first-time-buyer requirement.
HomeChoice Program Borrowers who have a disability or who have a family member with a disability (living with them) can get $15,000 in down-payment assistance in the form of a 1 percent second mortgage. The second mortgage is due after 30 years, when the home is refinanced or when it is sold. Income limits apply.
House Key Veterans Program Veterans can get down-payment assistance of up to $10,000 in form of a second mortgage loan. The interest rate is 3 percent and there is a 10-year loan term. There are geographic and income limitations. Alternatively, under a "needs-based option" veterans with lower incomes may be eligible for a loan of up to $10,000 with a 1 percent interest rate and payment deferral for 30 years.
Interested? Get more help, learn details, find participating lenders
Visit
Washington
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Washington mortgage rates
West Virginia

Number of Programs

3

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
West VirginiaProgram description
Homeownership Program For this 30-year fixed-term loan, first-time buyers can finance up to 100 percent of their home. Borrowers must show proof of a stable income and have maintained an average credit rating. Income and home purchase price limits vary by county. This purchase program can be combined with down-payment assistance.
Down Payment Assistance Program This program can be used in conjunction with both the Homeownership This program can be used in conjunction with both the Homeownership Program and the Movin’ Up Program. For the Homeownership program, eligible borrowers can get up to $7,500 with down payments of less than 10 percent or $10,000 for loans with down payments greater than 10 percent. For the Movin' On Up program, the available amounts are $5,000 with less than a 10 percent down payment and $8,000 with less. All down payment loans are a 15-year fixed-rate loans at a current rate of 2 percent.
Movin’ Up Loan Program This particular program does not have a first-time homebuyer requirement, rather, it is geared towards homebuyers that are looking to buy their next home. The Movin’ Up Program offers a purchase mortgage with down-payment assistance of $5,000 for loans with less than a 10 percent down payment and $8,000 for loans with a down payment of more than 10 percent. There are income restrictions of $113,760 for a one or two person household and $132,720 for a household of three or more. Movin' On Up offers a fixed interest rate of 4.5 percent.
Interested? Get more help, learn details, find participating lenders
Visit
West Virginia
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current West Virginia mortgage rates
Wisconsin

Number of Programs

6

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
WisconsinProgram description
WHEDA Advantage Program The WHEDA Advantage is a 30-year conventional fixed-rate loan, offered through Wisconsin’s network of lenders, which is not exclusive to first-time homebuyers, but is exclusive to a first mortgage (no refinancing). While there are income limits and loan limits, WHEDA states that they have tried to make the limits higher than “normal” to allow more borrowers to participate. This program can be paired with down payment and closing cost assistance.
First-time Home Buyer Advantage Basically the same as the conventional Advantage program, but offers a mortgage rate below the Advantage program. Aimed specifically at first-timers; income limits are lower than the WHEDA Advantage.
WHEDA FHA Advantage Program The FHA Advantage is a 30-year fixed interest rate loan offered through WHEDA’s network of FHA lenders. This program is not exclusively for first-time homebuyers, requires no minimum borrower contribution and has “low closing costs.” Borrowers must have a credit score over 620, a minimum 2-year work history and enough income to cover the mortgage payments and other debts. This program can be paired with down-payment assistance and there are income and home-price limits. The WHEDA FHA Advantage cannot be used for refinancing of existing mortgages.
Easy Close Advantage Program Designed to be paired with the Advantage and FHA Advantage Programs, the Easy Close Advantage Program provides down-payment and closing-cost assistance in the form of a 10-year, fixed-rate loan. There are income and credit limits for eligibility purposes.
WHEDA Tax Advantage Wisconsin offers mortgage credit certificates which allow borrowers to claim a tax credit up to 25 percent of the interest paid on the mortgage (40 percent for veterans). The maximum amount of the credit is capped at $2,000.
Veterans Affordable Loan Opportunity Rate (VALOR) Program This program, specifically designed for veterans, offers a reduced interest rate for those who qualify. The VALOR rate is priced lower than the Advantage rate; as with other offers, there are income and home price limits, but qualified veterans do not have to be first-time buyers. This program is available on a first come, first served basis.
Interested? Get more help, learn details, find participating lenders
Visit
Wisconsin
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Wisconsin mortgage rates
Wyoming

Number of Programs

9

  • First-time buyer
  • Repeat Buyer
  • Mortgage credit
  • Energy efficient
  • Purchase program
  • Home improvement
  • Veterans program
  • Disabled homeowner
  • Down-payment assistance
  • Job specific
WyomingProgram description
Home Again Program Home Again is a program that entices first-time buyers or those who haven't owned a home in at least three years to purchase REO homes (at a reduced rate) that are owned by the Wyoming Community Development Authority. Borrowers must be first-time homebuyers and per underwriting standards, must be eligible for a FHA, VA, or RD (USDA-backed) loan. Income and purchase price limits will apply based on area, and the total lot size for purchase must be less than six acres.
Spruce Up Wyoming Programs The Spruce Up Program is designed for Wyoming residents to purchase and rehabilitate a home under one line of financing. The program is broken up into two components: “Spruce Up I” is for first-time buyers and “Spruce Up II” is for repeat buyers; to qualify, the home must be more than 20 years old and in need of more than $15,000 worth of repairs. For both sections of the Spruce Up Program there are five qualifying repairs: The plumbing, heating, and electrical systems, the foundation/structural components and the roof.
Home$tretch Down Payment Loan Program Wyoming offers a amortizing second mortgage on a newly purchased home of up to $10,000 strictly for down-payment and closing-cost assistance. Homebuyers must contribute at least $1,500. A borrower is only eligible for this program with a FICO score of at least 620. The only other qualifying term is a debt-to-income ratio of 41 percent. There is no monthly payment required, but the loan must be repaid upon refinance or sale of the property.
First Time Homebuyer Program This is a program for first-time buyers (or those who haven't owned a home in at least three years). Borrowers must be able to qualify for a FHA, VA, or RD (USDA-backed) loan. Income and purchase price limits will apply based on area. Manufactured homes on permanent foundations that meet FHA requirements are eligible. In any case, the total lot size for purchase must be less than six acres. The loan is a fixed-rate with a 30-year term. Active or veteran military borrowers with proof of status may be eligible for a reduced interest rate and the loan does not need to be VA-backed.
WCDA Advantage Program This is a standard FHA loan that can be used in conjunction with a MCC or the Down Payment Loan Program. While no first-time-buyer requirement, families cannot earn more than $100,000 and must have a FICO of 620 or higher.
Mortgage Credit Certificate Program This MCC program can be used in conjunction with the WCDA Advantage or HFA Preferred programs. In order to claim an MCC on a federal tax return, a borrower must: be a first-time homebuyer, adhere to income and purchase price limits, and not be refinancing. Although the tax credit you can claim will range from 10 percent to 50 percent of the interest paid based on mortgage, federal government limits the amount of tax credit taken each year to $2,000.
HFA Preferred With Mortgage Insurance The HFA conventional loan is offered to both first-time homebuyers as well as repeat buyers; however borrowers cannot currently own a home. There are income limits set for this program, but no purchase price limits. Minimum credit score is 620. Home$tretch down payment assistance can be paired with this program.
HFA Preferred No Mortgage Insurance Because this program is without mortgage insurance, interest rates are slightly higher than with the HFA Preferred with MI, but monthly payments are still lower because of no MI. Although you may not currently own a residence to be eligible for the HFA Preferred, you do not need to be a first-time homebuyer. As with the HFA Preferred MI, there are no purchase price limits, yet there are income limits. The 30-year loan will cap at $424,100, and down-payment assistance can be paired with this loan as well. Similarly to all other programs, 620 is the credit score minimum.
Wyoming Rehabilitation and Acquisition Program (WRAP) The Wyoming Rehabilitation and Acquisition Program (WRAP), known nationally as the Neighborhood Stabilization Program, addresses the issue of foreclosed and abandoned homes needing owners. WRAP homes have been purchased, rehabilitated, then put back on the market for households with low incomes, generally those of up to 80 percent of the area's median income.
Interested? Get more help, learn details, find participating lenders
Visit
Wyoming
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Wyoming mortgage rates

Comments

  1. Andrea June 16, 2017 9:45 pm

    Are there any programs that will assist someone who is selling a home and needs to buy a new one due to being a caregiver?

      Reply»  
    1. Editorial Team June 20, 2017 11:57 am

      Some states, such as Pennsylvania, do offer programs aimed at buying or modifying homes to help disabled family members. Check your state's website to see; you might also get in touch with any state or local department that provides other kinds of assistance for disabled citizens, as they may be able to help you, too.

        Reply »  
  2. Stephanie Diamond June 04, 2017 4:15 pm

    I would like information on down payment assistance. My husband and I have excellent credit (790 ) but we fall in the category where we make too much money for any low down payment assistance. We don't have 20k or more to put down. I am a teacher but our income does not allow us to get the help for teachers in our state (OK). There is another program called the dream program that we do qualify for but all the lenders the website lists that handles this program actually don't participate in the dream program.

      Reply»  
    1. Editorial Team June 20, 2017 12:04 pm

      You might get in touch with the OK HFA directly at 1-888-937-1122 and ask them to assist in locating and working with a lender.

        Reply »  
  3. Bruce June 01, 2017 8:52 pm

    Hi, I am moving to another state, since these are state programs, does that mean, since I have not bought a house in the state I am moving to, would I be considered a first time buyer? Not likely, I imagine, but the question does come to mind. I qualify for a VA loan. Since there is no down payment required, then, obviously, I don't need down payment assistance. Is there any assistance available for the "closing" costs? I have a 100% rated service disability. I'm okay in my understanding of the accommodations that are provided for that, so I am not asking about those, I am more interested in what, if any, other help may be available for VA "guaranteed" loans? For example, does VA allow the "closing " costs, or a portion thereof, to be rolled into the loan? Thank you.

      Reply»  
    1. Editorial Team June 20, 2017 12:07 pm

      In general, you are considered a first-time buyer if you have not owned a home -anywhere- in the last three years. Some states DO offer closing cost programs for veterans, so check your individual state to see what may be available - and for more information on VA loans, check our VA Loans page.

        Reply »  
  4. Nora May 30, 2017 5:37 am

    First time buyer. I see they only offer First Time Home Owners some sort of special mortgage (and other)for 30yr. I am interested in 15 to 20 year mortgage. Does NJ offer plaything for me?

      Reply»  
    1. Editorial Team May 30, 2017 1:20 pm

      As these programs are usually aimed at low-to-moderate income buyers to help them qualify, and with shorter-term mortgages carrying higher monthly payments, many programs only target mortgages with 30-year terms. Although you won't get any interest-rate break for doing so, you could still take a 30-year term and prepay the loan, which would bring at least some additional savings.

        Reply »  
  5. Drew Gonsalves March 10, 2017 1:50 pm

    Interested in first time home buyer program for purchase in Gainesville fl

      Reply»  
    1. Editorial Team March 16, 2017 2:30 pm

      For each page (Florida included) we've provided the link for the authority or department that runs these program. Click on it to visit their website for more information for your area!

        Reply »  
  6. Carl Rice February 10, 2017 7:55 am

    I Hello I live in Virginia . both me and my wife take care of our son full time who is totally physically disabled from birth and is 21. We have been taking care of our son since 2009 when we both left our conventional jobs. Our income is federal and state tax exempt and comes from a state Medicaid waver. My son also receives SSI.I found your site by doing a web search on Community Home Choice 2013 a single-family mortgage loan designed to meet the mortgage underwriting needs of low-to-moderate income borrowers with disabilities or those who have a family member with a disability. It seems likes that this would benefit us but I have not been able to find a lender who is aware or has knowledge of this program. Please send any info or resources that would help us. We pay pay $1200 a month and desperately need to move into a better situation. We have been renting all our lives . Our credit is not that good but we are working on it slowly but surely. Please help if you can thank you

      Reply»  
    1. Editorial Team February 15, 2017 6:47 am

      According to Fannie Mae SEL-2015-10, "Fannie Mae has retired the Community Solutions and Community HomeChoice MCM features" and was retired on September 29, 2015. All of these kinds of 'affordable' programs have been consolidated into Fannie Mae's HomeReady Mortgage program. You might contact lenders about this and see if what they have will fit your needs. Good luck!

        Reply »  
  7. Rebecca Carter December 14, 2016 12:52 pm

    I have tried owning a home with bad credit. I have not had any luck. I work two jobs and pay my rent on time. But my credit score is only a 591. What can I do?

      Reply»  
    1. Househunter January 15, 2017 5:32 pm

      Get a secured credit card through your bank or capital one. This will allow you to rebuild your credit.

        Reply »  
    2. Editorial Team January 04, 2017 2:24 pm

      Technically, the FHA program is available to borrowers with FICO scores as low as 580, but many lenders impose "overlays" that create minimum scores of 600 or more. You're not far away from this score, so review your credit, clean up any errors, pay your bills on time and you'll soon be within range of getting an FHA-backed mortgage.

        Reply »  
  8. Dalton October 24, 2016 5:23 pm

    Need information for my father and myself on first time buyer grants need any and all material will read it all

      Reply»  
    1. Editorial Team October 25, 2016 7:28 am

      Dalton, To learn more and to see all the necessary materials, please follow the instructions at the top of the page: Click on your state below to see which statewide home buyer programs are available to you in your area. Below the map you will find descriptions of the available programs and the URL to your state's housing website. You can learn more about these and other programs at your state's housing website, and you can contact a participating mortgage lender to apply for one of the programs (HSH.com is not a mortgage lender). Each state differs in the number and type of programs they offer. Thanks for your comment, Tim Manni, HSH.com

        Reply »  
  9. Theresa Farina October 23, 2016 12:27 pm

    I am looking to buy a home and am interested in what programs are available for first time home buyers or any other grants or credits that may be available to me. If anyone with any information can contact me, that would be greatly appreciated.

      Reply»  
    1. Editorial Team October 25, 2016 7:31 am

      Theresa, Thanks for your comment. To move forward with assistance, you need to contact lenders, they will not contact you. Please follow the instructions at the top of the page to learn more about programs in your state: Click on your state below to see which statewide home buyer programs are available to you in your area. Below the map you will find descriptions of the available programs and the URL to your state's housing website. You can learn more about these and other programs at your state's housing website, and you can contact a participating mortgage lender to apply for one of the programs (HSH.com is not a mortgage lender). Each state differs in the number and type of programs they offer. Thanks, Tim Manni, HSH.com

        Reply »  
  10. kelly bradley October 22, 2016 1:23 pm

    Please call me , I would like some information on this program. My name is Kelly.Thank you

      Reply»  
    1. Editorial Team October 25, 2016 7:35 am

      Kelly,Thanks for commenting. Lenders will not contact you, you need to contact them. Please follow the instructions at the top of the page to learn more about programs in your state. Thanks for commenting, tim Manni, HSH.com

        Reply »  

Leave a Comment

Visit your state’s housing website to learn more

Please remember that HSH.com is not a mortgage lender and does not administer these programs – you’ll need to visit your state’s housing website to learn more about these programs and to contact a participating lender to learn how to apply. To locate your state’s housing website, first click on your state, then hover over the "Number of Programs" section below the map to reveal the website. Copy and paste that website into your web browser. Good luck!
 
 
 
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