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Home buyer programs by state

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.

WashingtonIdahoMontanaNorth DakotaMinnesotaWisconsinMichiganOregonWyomingSouth DakotaIowaIllinoisIndianaOhioCaliforniaNevadaUtahColoradoNebraskaKansasMissouriKentuckyArizonaNew MexicoTexasOklahomaArkansasLouisianaMississippiTennesseeAlabamaGeorgiaFloridaWest VirginiaMarylandPennsylvaniaNew YorkVermontNew HampshireMaineMassachusettsRhode IslandConnecticutNew JerseyDelawareVirginiaNorth CarolinaSouth CarolinaAlaskaHawaiiWashington DCDelawareVermontNew JerseyRhode IslandConnecticutNew HampshireMassachusettsMarylandWashington DCHawaii

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.

Alaska Homebuyer Assistance Programs
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
Program Name:
Tax-Exempt First-Time Homebuyer
Type:
Purchase mortgage
Audience:
First-time homebuyer
Feature:
Lower interest rates
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Yes, vary by area
Downpayment assistance:
No
Credit score:
Not declared
Notes:
Federal recapture tax upon sale of home may apply
Program Name:
Taxable First-Time Homebuyer
Type:
Purchase mortgage
Audience:
First-time homebuyer
Feature:
Reduced interest rate
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
No
Counseling/classes required:
No
Purchase price limits:
No
Downpayment assistance:
No
Credit score:
Not declared
Notes:
For borrowers whose incomes or purchase price exceeds tax-exempt limits
Program Name:
Closing Cost Assistance Program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Mortgage and downpayment loan
Funds can be used downpayment and closing costs
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
No
Counseling/classes required:
Yes
Purchase price limits:
No
Downpayment assistance:
Up to 4% of purchase price
Credit score:
640
Notes:
Loans are FHA, VA or USDA-backed
Program Name:
Manufactured Home Program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Loans of up to 14 years
Property type:
Type II (no permanent foundation) manufactured homes
Funds needed:
15% down unless VA-eligible
Income Limits:
No
Counseling/classes required:
Not declared
Purchase price limits:
$175,000
Downpayment assistance:
Not declared
Credit score:
Not declared
Notes:
Financed under the "Taxable" program
Program Name:
Nonconforming program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
For properties with nonstandard foundations, heating systems, etc
Property type:
Single-family homes, duplexes, Type I manufactured homes
Funds needed:
10 percent down payment required
Income Limits:
None declared
Counseling/classes required:
No
Purchase price limits:
None declared
Downpayment assistance:
No
Credit score:
None declared
Notes:
Recreational properties disallowed
Program Name:
Refinance program - Streamline
Type:
Refinance mortgage
Audience:
Existing AFHC borrowers/homeowners
Feature:
No cash back excepting bona fide closing costs
No appraisal or credit package required
Property type:
Single-family homes
Funds needed:
Program dependent
Income Limits:
Yes, program dependent
Counseling/classes required:
No
Purchase price limits:
Yes, program dependent
Downpayment assistance:
No
Credit score:
Yes, program dependent
Notes:
A refinance program for non-AFHC mortgages is also available.
Program Name:
Veteran's Program
Type:
Purchase mortgage
Audience:
Qualified veterans
Feature:
1% interest rate reduction on first $50,000 of loan
Property type:
Single-family homes, possibly multi-family homes
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Not declared
Downpayment assistance:
No
Credit score:
Not declared
Notes:
Widows and widowers of veterans are also eligible
Alabama Homebuyer Assistance Programs
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
Program Name:
Step-Up Program
Type:
Mortgage and downpayment loan
Audience:
First-time and repeat borrowers
Feature:
30-year fixed rate with piggyback 10-year second mortgage
Deferred payments; loan repaid on sale, refinance or payoff of first lien
Property type:
Single-family homes
Funds needed:
None declared
Income Limits:
Yes; $97,300
Counseling/classes required:
Yes
Purchase price limits:
None declared
Downpayment assistance:
Yes, total up to 3% of purchase price, $7,500 maximum
Credit score:
620
Notes:
Can be used for new or existing homes; refinances not eligible
Program Name:
Mortgage Credit Certificate Program
Type:
Interest credit on Federal Taxes - up to 50% of interest paid capped at $2,000
Audience:
First-time homebuyers
Feature:
Reduces federal taxes; amount not covered can be itemized
Credit runs for life of loan
Property type:
Single-family homes
Funds needed:
None declared
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Yes, $253,809 in non-target areas, up to $310,211 in target areas
Downpayment assistance:
No
Credit score:
No
Notes:
Must be paired with fixed-rate FHA, VA, USDA or Step-up program mortgage
Arkansas Homebuyer Assistance Programs
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
Program Name:
ADFA Move-Up Choice
Type:
Purchase mortgage, 30-year fixed
Audience:
First-time and repeat borrowers
Feature:
4% grant funded by higher-than-market interest rate
Use for closing costs, down payment or retiring other debts
Property type:
Single-family home
Funds needed:
Minimum 3% down payment
Income Limits:
Not declared
Counseling/classes required:
No
Purchase price limits:
$453,100
Downpayment assistance:
Yes, up to 4% grant
Credit score:
620
Notes:
If first time homebuyer, mortgage credit certificate can be obtained
Program Name:
AFDA Move-Up- Down Payment Assistance
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Mortgage and downpayment loan
DPA program: 10-year second mortgage up to $6,000 for downpayment or closing costs
Property type:
Single-family homes
Funds needed:
Minimum 3% down payment
Income Limits:
Not declared
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Yes, as above
Credit score:
620
Notes:
If first time homebuyer, mortgage credit certificate can be obtained
Program Name:
AFDA Move-Up - Arkansas Dream Down Payment Initiative
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
Mortgage and downpayment loan
ADDI program: Second mortgage of up to 6% of the loan, max $10,000, no payments, forgiven after 5 years
Property type:
Single-family homes
Funds needed:
Minimum 3% down payment
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
As above
Credit score:
620
Notes:
If first time homebuyer, mortgage credit certificate can be obtained
Program Name:
Mortgage Credit Certificate Program
Type:
Interest credit on Federal Taxes - 50% of interest paid capped at $2,000
Audience:
First-time homebuyers
Feature:
Reduces federal taxes; amount not covered can be itemized
Credit runs for life of loan
Property type:
Single-family homes
Funds needed:
Free with "Move-up Choice" program or 0.5% fee for as a standalone
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
$250,000
Downpayment assistance:
No
Credit score:
No
Notes:
First-time homebuyer, veteran or spouse, selected regions areas for others
Arizona Homebuyer Assistance Programs
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
Program Name:
Home Plus
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
Mortgage and downpayment loan
Downpayment loan has no payments, forgiven after 3 years
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
$92,984
Counseling/classes required:
Yes
Purchase price limits:
$371,396
Downpayment assistance:
Yes, up to 5% depending upon loan
Credit score:
640 to 660
Notes:
Geographic restrictions apply
California Homebuyer Assistance Programs
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
Program Name:
CalHFA Conventional Program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
Via Extra Credit Teacher Program only
Credit score:
640-660
Program Name:
CalPlus Conventional Program
Type:
Purchase mortgage with "slightly higher" fixed interest rate
Audience:
First-time homebuyers
Feature:
Can add MyHome Assistance for down payment and closing costs
Can add CalHFA Zero Interest Program for prepaid items and closing costs
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
Yes, as above
Credit score:
640-660
Program Name:
CalHFA FHA Loan Program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
Via Extra Credit Teacher Program only
Credit score:
640-660
Program Name:
CalPlus FHA Loan Program
Type:
Purchase mortgage with "slightly higher" fixed interest rate
Audience:
First-time homebuyers
Feature:
Can add MyHome Assistance for down payment and closing costs
Can add CalHFA Zero Interest Program for prepaid items and closing costs
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
Yes, as above
Credit score:
640-660
Program Name:
CalHFA VA Loan Program
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
VA-backed loans require no downpayment
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
None declared
Credit score:
640-660
Notes:
Must present valid COE per VA guidelines
Program Name:
Cal EEM+ Grant Program
Type:
FHA-backed mortgage with Energy Efficiency Grant
Audience:
First-time and repeat borrowers
Feature:
Loan of up to 4% of the first mortgage amount; can be added to CalPlus FHA Loan Program
Loan forgiven after 3 years, prorated payback if under 3 years
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$660,000 statewide
Downpayment assistance:
n/a
Credit score:
640-660
Notes:
Funds can be used for insulating, updating windows and doors, furnace, A/C, etc
Program Name:
CalHFA MyHome Assistance program
Type:
Deferred payment second mortgage up to 30-year term
Audience:
First-time homebuyers
Feature:
Up to 3.5% of the purchase price
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, per CalFHA Conventional or CalHFA FHA guidelines
Purchase price limits:
$660,000 statewide
Downpayment assistance:
n/a
Credit score:
640-660
Program Name:
CalHFA Zero Interest Program (ZIP)
Type:
No-interest second mortgage
Audience:
First-time homebuyers
Feature:
Must be added to CalHFA Conventional or CalHFA FHA program
Requires no regular monthly payments
Property type:
Single-family home
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, per CalFHA Conventional or CalHFA FHA guidelines
Purchase price limits:
$660,000 statewide
Downpayment assistance:
n/a
Credit score:
640-660
Program Name:
Mortgage Credit Certificate Program
Type:
Interest credit on Federal Taxes - 20% of interest paid capped at $2,000 per year
Audience:
First-time homebuyers; repeat borrowers in selected geographic areas
Feature:
Reduces federal taxes; amount not covered can be itemized
Credit runs for life of loan
Property type:
Single-family homes
Funds needed:
$450 if CalHFA program; $750 otherwise
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Yes, vary by area
Downpayment assistance:
No
Credit score:
No
Notes:
First-time homebuyer, veteran or spouse, selected regions areas for others
Program Name:
Extra Credit Teacher Home Purchase Program (ECTP; also known as "Schools Program")
Type:
CalHFA first mortgage and downpayment/closing cost loan
Audience:
First-time homebuyers
Feature:
Loan amounts range from $7,500 to $15,000
depending on where the home is located
Property type:
Single-family homes
Funds needed:
None declared
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
As above
Credit score:
640-660
Notes:
Borrower must be currently employed in a California K-12 public school, Charter school, county/continuation school or its school district
Colorado Homebuyer Assistance Programs
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
Program Name:
CHFA Advantage
Type:
Purchase or refinance mortgage
Audience:
First-time buyers and existing homeowners
Feature:
30-year fixed-rate mortgage with no mortgage insurance
Property type:
Single-family home
Funds needed:
3% down payment or equity; $1,000 minimum buyer funds
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Not available with this program
Credit score:
680
Program Name:
CHFA Preferred
Type:
Purchase or refinance mortgage
Audience:
First-time buyers and existing homeowners
Feature:
30-year fixed-rate mortgage with reduced cost mortgage insurance
Property type:
Single-family home
Funds needed:
3% down payment or equity; $1,000 minimum buyer funds
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Plus program: No-repayment grant of up to 4% of loan amount or no-interest second mortgage up to 5%
Credit score:
620
Notes:
Second mortgage is repaid on refinance or sale of property
Program Name:
CHFA FirstStep
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-backed 30-year fixed-rate mortgage
Property type:
Single-family home
Funds needed:
3.5% down payment; $1,000 minimum buyer funds
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$424,100
Downpayment assistance:
Plus program: No-interest second mortgage of up to 5% of loan amount
Credit score:
620
Notes:
Also available to Veterans and repeat buyers in targeted areas
Program Name:
CHFA SmartStep
Type:
Purchase mortgage
Audience:
First-time buyers and repeat buyers
Feature:
FHA-, FHA 203K, VA or USDA-backed 30-year fixed-rate mortgage
Program features CHFA's lowest mortgage interest rate
Property type:
Single-family home
Funds needed:
FHA requires 3.5% down payment or equity; $1,000 minimum buyer funds
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Plus program: No-repayment grant of up to 4% of loan amount or no-interest second mortgage up to 5%
Credit score:
620
Notes:
Second mortgage is repaid on refinance or sale of property
Program Name:
CHFA HomeOpener
Type:
Purchase mortgage
Audience:
First-time buyers and repeat buyers
Feature:
FHA-, FHA 203K, VA or USDA-backed 30-year fixed-rate mortgage
No down payment required with VA or USDA-eligible buyers
Property type:
Single-family home
Funds needed:
FHA requires 3.5% down payment; $1,000 minimum buyer funds
Income Limits:
Yes; vary by area, but much higher income limits higher than other programs
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Plus program: No-repayment grant of up to 4% of loan amount or no-interest second mortgage up to 5%
Credit score:
620
Notes:
Second mortgage is repaid on refinance or sale of property
Program Name:
CHFA HomeAccess
Type:
FHA or USDA-backed 30-year fixed-rate mortgage
Audience:
First-time homebuyer or qualified Veteran
Feature:
0% interest rate second mortgage of up to $25,000; no payments
Borrower must have a permanent disability or be a custodial parent of a child who has a permanent disability
Property type:
Single-family home
Funds needed:
FHA requires 3.5% down payment; $750 minimum buyer funds
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$424,100
Downpayment assistance:
Plus program: 0% interest rate second mortgage of up to $25,000; no payments first 360 months
Credit score:
620
Notes:
If loan not refinanced or home sold, payments of $200 per month months 361-485
Program Name:
CHFA MCC
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or qualified Veteran
Feature:
20% of interest cost with no dollar cap
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
No
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
620
Notes:
Mortgage must be CHFA first mortgage loan or any loan from a CHFA MCC-approved lender
Connecticut Homebuyer Assistance Programs
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
Program Name:
Homebuyer Mortgage Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in targeted areas
Feature:
Conventional or FHA-backed 30-year fixed-rate mortgage with below-market interest rate
Property type:
Single-family home
Funds needed:
3% - 3.5% downpayment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP Loan (see below)
Credit score:
620 for conventional loan, 580 for FHA-backed
Program Name:
DAP Loan
Type:
30-year second mortgage
Audience:
First-time homebuyers
Feature:
Minimum $3,000; maximum 3% or 3.5% of purchase price
Property type:
Single-family residential
Funds needed:
$200 fee, and all liquid borrower funds above $10,000 must be used toward downpayment and costs first
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
n/a
Credit score:
None declared but will generally match mortgage program requirements
Notes:
Borrower can retain up to $10,000 liquid assets
Program Name:
HFA Advantage
Type:
Purchase mortgage
Audience:
First-time homebuyers, all buyers in target areas
Feature:
30-year fixed-rate with below market interest rate and reduced mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
3% down payment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP loan (see above)
Credit score:
620
Program Name:
HFA Preferred
Type:
Purchase mortgage
Audience:
First-time homebuyers, all buyers in target areas
Feature:
30-year fixed-rate with below market interest rate and reduced mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
3% down payment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP loan (see above)
Credit score:
620
Program Name:
Military Programs
Type:
Purchase mortgage - VA, FHA or USDA-backed 30-year fixed-rate
Audience:
Veterans, surviving spouses and civil union partners
Feature:
Below market interest rate
No down payment required with VA-backed loan
Property type:
Single-family homes, approved condos
Funds needed:
0% - 3.5% downpayment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Veterans Pilot Program - 0% interest loan up to $10,000
or eligible DAP loan (see above)
Credit score:
None declared, likely 620
Program Name:
Teacher's Mortgage Assistance Program
Type:
Purchase mortgage - VA, FHA or USDA-backed 30-year fixed-rate
Audience:
First-time homebuying educators in target school districts
Feature:
Below market interest rate
No down payment requirement and no asset holding restrictions
Property type:
Single-family homes, approved condos
Funds needed:
0% - 3.5% depending on loan backing
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP loan (as above)
Credit score:
None declared, likely 620
Program Name:
Police Homeownership Program
Type:
Purchase mortgage - VA, FHA or USDA-backed 30-year fixed-rate
Audience:
First-time homebuying law enforcement purchasing in town where they work
Feature:
Below market interest rate
No down payment requirement and no asset holding restrictions
Property type:
Single-family homes, approved condos
Funds needed:
0% - 3.5% depending on loan backing
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP loan (as above)
Credit score:
None declared, likely 620
Program Name:
Mobile / Manufactured Home Program
Type:
FHA-backed purchase mortgage
Audience:
First-time homebuyers, all buyers in target areas
Feature:
Below-market interest rate
Eligibility depends on the availability of state funds that have been set aside to help finance these homes. 
Property type:
Mobile and Manufactured Homes
Funds needed:
Minimum 20% down payment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None available
Credit score:
Not declared
Notes:
Permanent foundation, year-round home in a state-licensed mobile home park homes only
Program Name:
FHA 203(k) Renovation Mortgage Program
Type:
FHA-backed 30-year FRM
Audience:
First-time homebuyer
Feature:
Access funds in excess of purchase price to update property up to $35,000
Structural repairs or amounts greater than $35K handled under Standard 203(k) Rehabilitation program
Property type:
Single-family homes, approved condos
Funds needed:
3.5% down payment
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DAP loan (as above)
Credit score:
Not declared, likely 620
Washington D.C. Homebuyer Assistance Programs
Interested? Get more help, learn details, find participating lenders
Visit
Washington D.C.
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Washington D.C. mortgage rates
Program Name:
FHA
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-backed 30-year fixed rate
FHA Plus with Down Payment Assistance
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Typical down payment and closing costs
Income Limits:
$140,640
Counseling/classes required:
No
Purchase price limits:
$679,650
Downpayment assistance:
None
Credit score:
640
Program Name:
FHA Plus with Down Payment Assistance
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-backed 30-year fixed rate
3.5% of purchase price in down payment assistance loan
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Typical closing costs
Income Limits:
$140,640
Counseling/classes required:
No
Purchase price limits:
$679,650
Downpayment assistance:
Yes; DC Open Doors DPA loan, as below
Credit score:
640
Program Name:
HFA Preferred / HFA Advantage
Type:
Purchase mortgage
Audience:
First-time homebuyers, homeowners
Feature:
Conventional 30-year fixed rate
Lowered mortgage insurance premiums
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Typical down payment and closing costs
Income Limits:
$140,640
Counseling/classes required:
Yes, for first-time buyers
Purchase price limits:
$453,100
Downpayment assistance:
No
Credit score:
640
Program Name:
HFA Preferred / HFA Advantage with Down Payment Assistance
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
Conventional 30-year fixed rate
With 3% of purchase price in down payment assistance loan
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Typical closing costs
Income Limits:
$140,640
Counseling/classes required:
Yes, for first-time buyers
Purchase price limits:
$453,100
Downpayment assistance:
Yes; DC Open Doors DPA loan, as below
Credit score:
640
Program Name:
DC Open Doors Down Payment Assistance Loan
Type:
Second mortgage, 5-year term
Audience:
First-time homebuyers
Feature:
3% (HFA) or 3.5% (FHA) of the purchase price
No payments, forgiven at 20% per yer
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Not declared
Income Limits:
$140,640
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Repaid if borrower sells, refinances or vacates property within first 5 years
Credit score:
640
Program Name:
Home Purchase Assistance Program (HPAP)
Type:
Second Mortgage
Audience:
Very low income, elderly, disabled or displaced homebuyers
Feature:
Up to $80,000 in down payment, up to $4,000 in closing cost assistance
0% interest loan may have deferred or no payments depending on eligibility
Property type:
Single-family homes, approved condos, town homes, co-ops
Funds needed:
$500 or 50% of liquid assets in excess of $3,000
Income Limits:
Special limits of up to 110% of Area Median Income, based on family size
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
n/a
Credit score:
Not declared; funds available through Community-Based Non-Profit Organizations
Notes:
Repaid if borrower sells, refinances or vacates property
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
20% of interest cost based on loan size, no dollar cap
Property type:
Single-family homes, approved condos, town homes
Funds needed:
$450 fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$645,764 non-target, $764,823 target areas
Downpayment assistance:
n/a
Credit score:
620
Delaware Homebuyer Assistance Programs
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Delaware
website
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Check current Delaware mortgage rates
Program Name:
Welcome Home Homeownership Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, buyers in target areas
Feature:
Below-market interest rate
Property type:
Single-family homes
Funds needed:
3% - 3.5% downpayment, depending on program
Income Limits:
$97,900
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
SMAL program or Advantage 4 grant, as below
Credit score:
620
Program Name:
Home Again Homeownership Program
Type:
Purchase mortgage
Audience:
Repeat homebuyers
Feature:
Below-market interest rate
Property type:
Single-family home
Funds needed:
3% - 3.5% downpayment, depending on program
Income Limits:
$97,900
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
SMAL program or Advantage 4 grant, as below
Credit score:
620
Program Name:
Second Mortgage Assistance Loan (SMAL)
Type:
30-year second mortgage coupled with DEHousing loan
Audience:
First-time homebuyers
Feature:
Up to $8,000 for closing costs and down payment
3% interest rate with deferred payments
Property type:
Single-family home
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
None declared
Notes:
If loan not refinanced or home sold, repayment begins at month 361
Program Name:
Advantage 4
Type:
Downpayment/closing cost grant
Audience:
First-time homebuyers
Feature:
Up to 4% of purchase price to be used for downpayment and closing costs
Outright grant; no repayment required
Property type:
Single-family home
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
None declared
Program Name:
First-time Homebuyer Tax Credit (MCC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers
Feature:
35% of interest cost capped at $2,000 per year
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$350 fee + up to 1% fee (waived for Welcome Home mortgage)
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
620
Notes:
Mortgage must be a DEHousing first mortgage loan or any loan from a CHFA MCC-approved lender
Florida Homebuyer Assistance Programs
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Florida
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Check current Florida mortgage rates
Program Name:
Florida First
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA, VA or USDA-Backed 30-year fixed-rate
Property type:
Single-family homes
Funds needed:
Typical downpayment and closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Florida Assist (as below)
Credit score:
Likely 620
Program Name:
Florida Military Heroes
Type:
Purchase mortgage - FHA, VA or USDA-backed 30-year fixed-rate
Audience:
Veterans and active military personnel
Feature:
Below-market interest rate
Property type:
Single-family home
Funds needed:
Typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Florida Assist (as below)
Credit score:
Likely 620
Program Name:
FL HFA Preferred Conventional Loan Program
Type:
Purchase mortgage - 30-year fixed-rate
Audience:
First-time homebuyers
Feature:
Reduced mortgage insurance costs
Property type:
Single-family home
Funds needed:
Typical downpayment and closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Florida Assist (as below)
Credit score:
620
Program Name:
FL HFA 3% Plus Preferred Conventional Loan Program
Type:
Purchase mortgage - 30-year fixed-rate with downpayment and closing cost grant
Audience:
First-time homebuyers
Feature:
Reduced mortgage insurance costs
Property type:
Single-family home
Funds needed:
Typical downpayment and closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Outright grant of 3% of purchase price - non repayable
Credit score:
620
Program Name:
Florida Assist
Type:
0%, deferred repayment second mortgage
Audience:
First-time homebuyers
Feature:
Up to $7,5000 for down payment and closing costs
Repaid on sale, refinance, retirement of the first mortgage or owner vacancy.
Property type:
Single-family home
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
per mortgage program
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers
Feature:
Up to 50% of interest cost capped at $2,000 per year
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Notes:
Certificate issued with FL HFA first mortgage
Georgia Homebuyer Assistance Programs
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Georgia
website
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Participating lenders Contact for more help
Check current Georgia mortgage rates
Program Name:
Georgia Dream
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA, VA or USDA-backed 30-year fixed-rate mortgage
Up to $5,000 for downpayment and closing costs
Property type:
Single-family homes
Funds needed:
Minimum $1,000 borrower contibution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Georgia Dream Second Mortgage Loan (as below)
Credit score:
640
Program Name:
Georgia Dream for Protectors, Educators and Nurses (PEN program)
Type:
FHA, VA or USDA-backed 30-year fixed-rate mortgage
Audience:
Police, Fire, Military, Teacher
Feature:
Up to $7,500 for downpayment and closing costs
Property type:
Single-family homes
Funds needed:
Minimum $1,000 borrower contibution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Georgia Dream Second Mortgage Loan (as below)
Credit score:
640
Program Name:
Georgia Dream Choice program
Type:
FHA, VA or USDA-backed 30-year fixed-rate mortgage
Audience:
Disabled first-time homebuyer or family with disabled member
Feature:
Up to $7,500 for downpayment and closing costs
Property type:
Single-family homes
Funds needed:
Minimum $1,000 borrower contibution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Georgia Dream Second Mortgage Loan (as below)
Credit score:
640
Program Name:
Georgia Dream Second Mortgage Loan
Type:
0%, deferred repayment second mortgage
Audience:
First-time homebuyers
Feature:
Repaid on sale, refinance, retirement of the first mortgage or owner vacancy.
Property type:
Single-family home
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640
Hawaii Homebuyer Assistance Programs
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Hawaii
website
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Check current Hawaii mortgage rates
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers
Feature:
Up to 20% of interest cost; no dollar cap
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$425 application and processing fee
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Notes:
Certificate issued only by select participating lenders
Program Name:
NeighborWorks HHOC Downpayment Assistance Loan (DPAL)
Type:
20-due-in-15 balloon "piggyback" second mortgage
Audience:
First-time homebuyers
Feature:
15% of purchase price; $75,000 max loan
Allows for no mortgage insurance with 5% down payment
Property type:
Single-family home, approved condos
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
700
Notes:
http://www.hihomeownership.org/
Iowa Homebuyer Assistance Programs
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Iowa
website
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Check current Iowa mortgage rates
Program Name:
FirstHome
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
Conventional, FHA, USDA or VA-backed 25- or 30-yr fixed-rate
Conventional HFA can have no mortgage insurance premiums
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes for conventional loan
Purchase price limits:
$253,300
Downpayment assistance:
Yes, with Plus program ($2,500 grant)
Credit score:
640
Program Name:
FirstHome Plus / Homes for Iowans Plus
Type:
$2,500 down payment and closing cost grant
Audience:
First-time homebuyers
Feature:
Outright grant; no repayment
Property type:
Single-family homes
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
n/a
Purchase price limits:
$253,300
Downpayment assistance:
n/a
Credit score:
640
Program Name:
Homes For Iowans
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Conventional, FHA, USDA or VA-backed 25- or 30-yr fixed-rate
Conventional HFA can have no mortgage insurance premiums
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
$121,500
Counseling/classes required:
Yes for conventional loan
Purchase price limits:
$310,000
Downpayment assistance:
Yes, with Plus program ($2,500 grant)
Credit score:
640
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 50% of interest cost, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$500 fee waived if used with Homes for Iowans program
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Notes:
Not available for use with FirstHome program
Idaho Homebuyer Assistance Programs
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Idaho
website
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Check current Idaho mortgage rates
Program Name:
First Loan Program
Type:
Purchase mortgage
Audience:
First-time-homebuyers
Feature:
FHA-, VA- or USDA-backed 30-year fixed-rate mortgage
Property type:
Single-family homes, approved condos
Funds needed:
None declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Good Credit Rewards, as below
Credit score:
640
Notes:
MCC cannot be used with this program
Program Name:
Conventional Loan Program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
30-year fixed-rate, lower MI costs
Freddie Mac / Fannie Mae backed program
Property type:
Single-family homes
Funds needed:
None declared
Income Limits:
$90,000 statewide, $110,000 Blaine County
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Good Credit Rewards, as below
Credit score:
620
Program Name:
Good Credit Rewards
Type:
10-year second mortgage
Audience:
First-time homebuyers
Feature:
Up to 2.5% of purchase price, capped at $8,000
Property type:
Single-family homes
Funds needed:
Minimum 0.5% of the purchase price contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640 for First Loan, 680+ for Preferred and Advantage Programs
Notes:
Liquid asset limitations apply
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers
Feature:
Up to 35% of interest cost, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$300 processing fee
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Notes:
Can be used with Idaho Housing Conventional loans only
Illinois Homebuyer Assistance Programs
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Illinois
website
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Check current Illinois mortgage rates
Program Name:
IHDA Access Forgivable
Type:
Purchase mortgage with downpayment/closing cost grant
Audience:
First-time and repeat homebuyers
Feature:
Up to 4% of purchase price, capped at $6,000
Forgiven after 10 years
Property type:
Single-family homes
Funds needed:
1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
640
Program Name:
IDHA Access Deferred
Type:
Purchase mortgage with downpayment/closing cost loan
Audience:
First-time and repeat homebuyers
Feature:
Up to 5% of purchase price, capped at $7,500
0% interest, 30-year second mortgage with no payments
Property type:
Single-family homes
Funds needed:
1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
640
Notes:
Must be repaid upon sale, refinance or retire first mortgage
Program Name:
IDHA Access Repayable
Type:
Purchase mortgage with downpayment/closing cost loan
Audience:
First-time and repeat homebuyers
Feature:
Up to 10% of purchase price, capped at $10,000
0% interest, 10-year second mortgage repaid monthly
Property type:
Single-family homes
Funds needed:
1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
640
Program Name:
1st Home Illinois
Type:
Purchase mortgage with downpayment/closing cost grant
Audience:
First-time homebuyers and veterans
Feature:
Up to $7,500 for down payment and closing costs
Forgiven after 5 years
Property type:
Single-family homes
Funds needed:
1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
640
Notes:
Limited to Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will or Winnebago counties ONLY
Indiana Homebuyer Assistance Programs
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Indiana
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Program Name:
Affordable Home
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-backed, 30-year fixed rate
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None
Credit score:
660
Program Name:
My Home
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Conventional backed 30-year fixed rate
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None
Credit score:
640 with less than 5% down
Program Name:
My Home with MCC
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
Conventional backed 30-year fixed rate
Attached Mortgage Credit Certificate reduces monthly costs
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None
Credit score:
640 with less than 5% down
Program Name:
Next Home
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Conventional or FHA-backed 30-year fixed rate
with downpayment assistance, forgiven after 2 years
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Up to 3.5% of purchase price (FHA), up to 3% (conventional)
Credit score:
660 FHA, 640 conventional
Program Name:
Next Home with MCC
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
Conventional or FHA-backed 30-year fixed rate
with downpayment assistance, forgiven after 2 years
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Up to 3.5% of purchase price (FHA), up to 3% (conventional)
Credit score:
660 FHA, 640 conventional
Program Name:
Helping to Own (H2O)
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
FHA-backed 30-year fixed rate
3.5% down payment grant - no repayment
Property type:
Single-family homes
Funds needed:
$100 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
3.5% down payment grant - no repayment
Credit score:
660
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 35% of interest cost up to $50,000 loan, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$500 processing fee
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Notes:
Reduced credit percentage for larger loans - 20% for $90,000+
Kansas Homebuyer Assistance Programs
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Check current Kansas mortgage rates
Program Name:
First Time Homebuyer Program (HOME)
Type:
0% second mortgage of 15% - 20% of purchase price, portions forgiven over time
Audience:
First-time homebuyers
Feature:
Coupled with FHA-, VA-, USDA-backed or conventional 30-year fixed-rate mortgage
Property type:
Single-family homes
Funds needed:
Minimum 2% of sale price
Income Limits:
Yes; vary by area
Counseling/classes required:
None declared
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
None declared
Notes:
Not available in the city limits of Topeka, Wichita, Lawrence, Kansas City, nor Johnson County.
Kentucky Homebuyer Assistance Programs
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Program Name:
Secondary Market Funding Source program
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed-rate
Conventional preferred choice may have no mortgage insurance
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$282,000
Downpayment assistance:
Regular or Affordable DAP program
Credit score:
Conventional 660; FHA, VA, USDA 620
Program Name:
MRB (Mortgage Revenue Bond) program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed-rate
Conventional preferred choice may have no mortgage insurance
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$253,800
Downpayment assistance:
Regular or Affordable DAP program
Credit score:
Conventional 660; FHA, VA, USDA 620
Program Name:
Regular Downpayment Assistance Program (DAP)
Type:
Second mortgage for downpayment assistance
Audience:
First-time homebuyer
Feature:
10-year second mortgage up to $6,000 with 5.5% interest rate
Funds used as downpayment or closing costs
Property type:
Single-family homes, approved condos
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Per Secondary Market or MRB programs
Downpayment assistance:
n/a
Credit score:
Per program choice
Program Name:
Affordable Downpayment Assistance Program (DAP)
Type:
Second mortgage for downpayment assistance
Audience:
First-time homebuyer
Feature:
10-year second mortgage up to $4,500 with 1% interest rate and $1,500 outright grant
$1,500 additional outright grant with conventional mortgage
Property type:
Single-family homes, approved condos
Funds needed:
n/a
Income Limits:
Yes; special limits vary by area
Counseling/classes required:
Yes
Purchase price limits:
Per Secondary Market or MRB programs
Downpayment assistance:
n/a
Credit score:
Per program choice
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 45% of interest cost, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$500 fee
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
$253,800
Downpayment assistance:
No
Credit score:
n/a
Louisiana Homebuyer Assistance Programs
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Program Name:
Market Rate GNMA Program
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-, VA- or USDA-backed 30-year fixed-rate
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Recommended but not required
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; up to 4% of purchase price
Credit score:
640
Program Name:
LHA Preferred Conventional Program
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
30-year fixed rate mortgage
Reduced mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$99,000
Counseling/classes required:
Yes
Purchase price limits:
$417,000
Downpayment assistance:
Yes; up to 4% of purchase price
Credit score:
640
Program Name:
LHA Choice Conventional Program
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
30-year fixed rate mortgage
Reduced mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
None
Income Limits:
$99,000
Counseling/classes required:
Yes
Purchase price limits:
$424,100
Downpayment assistance:
Yes; up to 4% of purchase price
Credit score:
640
Notes:
Eligible borrowers can get additional 2% toward closing costs
Program Name:
Delta 100 program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
30-year fixed rate with 2% interest rate
Requires no money down
Property type:
Single-family homes
Funds needed:
"Minimum investment required"
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$242,000
Downpayment assistance:
Up to 3% for closing costs
Credit score:
None declared
Notes:
Available only in Caldwell, Catahoula, Concordia, East Carroll, Franklin, Madison, Morehouse
Program Name:
Mortgage Revenue Bond (Assisted/MRB) program
Type:
3-year second mortgage
Audience:
First-time homebuyers
Feature:
Principal forgiven at 1/36th each month
Property type:
Single-family homes
Funds needed:
Not declated
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$253,809 in non-target areas; $310,211 in target areas
Downpayment assistance:
Up to 4% of principal loan amount for downpayment and closing costs
Credit score:
640
Notes:
Limited funds available for this program
Program Name:
Mortgage Revenue Bond (Home/MRB) program
Type:
Second mortgage grant
Audience:
First-time homebuyers
Feature:
Forgiven
Property type:
Single-family homes
Funds needed:
Minimum 1% contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$253,809
Downpayment assistance:
4% to 9% based on principal loan amount for downpayment and closing costs
Credit score:
640
Notes:
Limited funds available for this program
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 40% of interest cost, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family home
Funds needed:
$500 fee
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
No
Credit score:
n/a
Massachusetts Homebuyer Assistance Programs
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Program Name:
MassHousing Mortgage MI Plus
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers
Feature:
Conventional 30-year FRM
Reduced MI premiums and up to 6-month job loss payment protection
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area but up to 135% of Area Median Income
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Not available
Credit score:
660
Program Name:
MassHousing Mortgage MI Plus 100
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers
Feature:
Conventional 30-year FRM
Reduced MI premiums and up to 6-month job loss payment protection
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area but up to 100% of Area Median Income
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
MassHousing DPA, as below
Credit score:
660
Program Name:
MassHousing Mortgage FHA
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers
Feature:
FHA-backed 30-year FRM
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area but up to 135% of Area Median Income
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Not available
Credit score:
640
Program Name:
MassHousing Mortgage FHA 100
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers
Feature:
FHA-backed 30-year FRM
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area but up to 100% of Area Median Income
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
MassHousing DPA, as below
Credit score:
640
Program Name:
Operation Welcome Home
Type:
Purchase mortgage
Audience:
First-time veteran or active military homebuyers
Feature:
Conventional 30-year FRM
Reduced MI premiums and up to 6-month job loss payment protection
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
MassHousing DPA, as below
Credit score:
660
Program Name:
MassHousing DPA
Type:
Second mortgage for downpayment and closing cost
Audience:
First-time homebuyers
Feature:
Up to 3% of the purchase price ($12,000 maximum)
1% second mortgage with 15-year term
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes; special limits apply to this program
Counseling/classes required:
Yes
Purchase price limits:
Not declared
Downpayment assistance:
n/a
Credit score:
n/a
Notes:
Income limits Special income limits apply
Maryland Homebuyer Assistance Programs
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Program Name:
Maryland Mortgage Loan Assist - Premier
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
Conventional, FHA-, VA- or USDA-backed 30-year fixed rate
With up to $5,000 in a 0%, deferred payment second mortgage for downpayment & closing costs
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution; assets cannot exceed 20% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes, as above
Credit score:
640 and up
Notes:
Second mortgage paid off when home is sold or loan refinanced
Program Name:
Maryland Mortgage Loan Assist - Homefront
Type:
Purchase mortgage
Audience:
First-time veteran and military homebuyers
Feature:
0.25% interest rate reduction
With up to $5,000 in a 0%, deferred second mortgage for downpayment & closing costs
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution; assets cannot exceed 20% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes, as above
Credit score:
640 and up
Notes:
Second mortgage paid off when home is sold or loan refinanced
Program Name:
Maryland Mortgage Grant Assist
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 4% outright grant for downpayment and closing costs
Option for up to 6% grant available for specially qualified low-income borrowers
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution; assets cannot exceed 20% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes, as above
Credit score:
640 and up
Notes:
Cannot be combined with downpayment assistance or Partner Match programs
Program Name:
Maryland Mortgage Rate Assist - Preferred Rate
Type:
Purchase mortgage
Audience:
First-time homebuyer or buyer in target area
Feature:
Lowest interest rate of all Maryland programs
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution; assets cannot exceed 20% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Not available
Credit score:
640 and up
Notes:
Cannot be combined with downpayment assistance or Partner Match programs
Program Name:
Partner Match
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
Up to $2,500 in private downpayment and closing cost assistance matched by state
No interest, deferred second mortgage paid when first mortgage is retired
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution; assets cannot exceed 20% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes, if matchable funds produced
Credit score:
640 and up
Notes:
Private funds can come from employer, community group, homebuilders, etc.
Program Name:
Maryland SmartBuy
Type:
Purchase mortgage with student loan retirement
Audience:
First-time homebuyers with student loan debt
Feature:
Up to 15% of purchase price in student loan debt can be retired
5-year forgivable second mortgage retired at 20% per year
Property type:
Single-family homes, approved condos
Funds needed:
5% minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes, up to $5,000 as 0% interest deferred third mortgage
Credit score:
680
Notes:
Eligible properties limited to those owned by the state of Maryland only
Program Name:
Maryland HomeCredit
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 25% of interest cost, capped at $2,000
Reduces federal taxes; amount not covered can be itemized
Property type:
Single-family homes, approved condos
Funds needed:
Up to $800 in processing fees with any Maryland mortgage program
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
n/a
Maine Homebuyer Assistance Programs
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Program Name:
First Home Loan Program
Type:
FHA-, VA- or USDA-backed Purchase mortgage
Audience:
First-time homebuyers, veterans/active military
Feature:
Limited unemployment protection included
Property type:
Single-family homes, approved condos and mobile homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes; vary by area
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Advantage program (see below)
Credit score:
640
Notes:
Home improvements up to $35,000 can also be financed into loan - see Purchase Plus below
Program Name:
SaluteME / Salute Home Again
Type:
FHA-, VA- or USDA-backed Purchase mortgage
Audience:
First-time and repeat military/veteran buyers
Feature:
0.25% interest rate reduction
Property type:
Single-family homes, approved condos and mobile homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Advantage program (see below)
Credit score:
640
Notes:
Home improvements up to $35,000 can also be financed into loan - see Purchase Plus below
Program Name:
Advantage assistance
Type:
Downpayment/closing cost grant
Audience:
First-time homebuyers
Feature:
Up to $3,500 for downpayment and closing costs
Outright grant; no repayment required
Property type:
Single-family homes, approved condos
Funds needed:
1% borrower contribution; can be a gift
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640
Program Name:
Purchase Plus Improvement Program
Type:
Home Improvement Loan add-in
Audience:
First-time homebuyers, veterans/active military
Feature:
$500 to $35,000 added to loan amount for improving the home
Subject to purchase price limits
Property type:
Single-family homes, approved condos and mobile homes
Funds needed:
Maximum $375
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640
Michigan Homebuyer Assistance Programs
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Program Name:
MI Home Loan
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA-, VA-, USDA or Conventional 30-year fixed rate
Property type:
Single-family home, approved condos
Funds needed:
1% of sales price; borrowers cannot have more than $10,000 in assets
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$224,500
Downpayment assistance:
MI Down Payment loan, as below
Credit score:
640
Notes:
Total household income used, so all adults in the home must apply and qualify
Program Name:
MI Home Loan Flex
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers
Feature:
FHA-, VA-, USDA or Conventional 30-year fixed rate
Up to 4% purchase price, maximum $7,500 for down payment and closing costs
Property type:
Single-family home, approved condos
Funds needed:
1% of sales price; borrowers cannot have more than $10,000 in assets
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$224,500
Downpayment assistance:
MI Down Payment loan, as below
Credit score:
660
Notes:
Only borrower's income is used to qualify
Program Name:
MI Down Payment
Type:
Second mortgage downpayment loan
Audience:
First-time homebuyers
Feature:
Up to $7,500 second mortgage
0% interest, deferred payment second mortgage for downpayment & closing costs
Property type:
Single-family home, approved condos
Funds needed:
1% of home sales price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$224,500
Downpayment assistance:
n/a
Credit score:
640
Notes:
Second mortgage paid off when home is sold or loan refinanced
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 20% of interest cost
Property type:
Single-family home, approved condos
Funds needed:
n/a
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$224,500
Downpayment assistance:
n/a
Credit score:
n/a
Minnesota Homebuyer Assistance Programs
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Program Name:
Start Up Program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-, VA-, USDA or Conventional 30-year fixed rate
Reduced mortgage insurance costs
Property type:
Single-family home, approved condos
Funds needed:
$1,000 or 1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Deferred or Monthly Downpayment Loan, as below
Credit score:
640 conventional; 650 FHA
Program Name:
Step Up Program
Type:
Purchase or refinance mortgage
Audience:
Repeat buyers, homeowners
Feature:
FHA-, VA-, USDA or Conventional 15 or 30-year fixed rate
Property type:
Single-family home, approved condos
Funds needed:
Lesser of $1,000 or 1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Monthly Downpayment Loan, as below
Credit score:
640 conventional; 650 FHA
Program Name:
Deferred Payment Downpayment Loan
Type:
Second mortgage
Audience:
First-time homebuyers
Feature:
0% interest, deferred payment second mortgage for downpayment & closing costs
$8,000; Up to $10,000 in Plus program (additional restrictions apply)
Property type:
Single-family home, approved condos
Funds needed:
Lesser of $1,000 or 1% of purchase price; can have no more than $8,000 in residual assets
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640 conventional; 650 FHA
Notes:
Second mortgage paid off when home is sold or loan refinanced
Program Name:
Monthly Payment Downpayment Loan
Type:
10-year, fully-amortizing second mortgage
Audience:
First-time homebuyers
Feature:
Up to $15,000 for downpayment and closing costs
Property type:
Single-family home, approved condos
Funds needed:
Lesser of $1,000 or 1% of purchase price
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640 conventional; 650 FHA
Notes:
No residual asset limit
Missouri Homebuyer Assistance Programs
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Program Name:
First Place Loan Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, qualified veterans, buyers in target areas
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate mortgage
Lower interest rate than loan with cash assistance
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$248,098 non-target area; $303,231 in target area
Downpayment assistance:
None
Credit score:
620
Notes:
Incomes from all 18+ adults living in the home considered in qualfying
Program Name:
First Place Cash Assistance Loan
Type:
10-year second mortgage for downpayment and closing costs
Audience:
First-time homebuyers, qualified veterans, buyers in target areas
Feature:
Up to 4% of the purchase price, forgiven a 1/60th per month after 5 years
wholly forgiven after 10 years
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$248,098 non-target area; $303,231 in target area
Downpayment assistance:
As above
Credit score:
620
Notes:
Incomes from all 18+ adults living in the home considered in qualfying
Program Name:
Next Step Program
Type:
Purchase mortgage
Audience:
Repeat homebuyers in "Opportunity Areas" throughout Missouri
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate mortgage
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$303,231 in target area
Downpayment assistance:
Cash Assistance Loan (same as First Place Cash Assistance Loan)
Credit score:
620
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 25% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
MCC issuance fee of 1% of the loan amount
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$248,098 non-target area; $303,231 in target area
Downpayment assistance:
n/a
Credit score:
n/a
Mississippi Homebuyer Assistance Programs
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Program Name:
Smart Solution
Type:
Purchase mortgage; FHA-, VA,-, USDA or Conventional 30-year fixed rate
Audience:
First-time homebuyer
Feature:
Lowered mortgage insurance premiums
Property type:
Single-family home, approved condos
Funds needed:
3% downpayment
Income Limits:
$80,000
Counseling/classes required:
Yes
Purchase price limits:
FHA/VA: $294,515; conventional $453,100
Downpayment assistance:
Smart Solution Second or Plus, as below
Credit score:
620
Program Name:
Smart Solution Second
Type:
Second mortgage used for downpayment
Audience:
First-time homebuyers
Feature:
3% of purchase price, 10 year term
Same interest rate as first mortgage
Property type:
Single-family home, approved condos
Funds needed:
Not declared; borrower can have only "minimal liquid assets"
Income Limits:
$80,000
Counseling/classes required:
Yes
Purchase price limits:
FHA/VA: $294,515; conventional $453,100
Downpayment assistance:
n/a
Credit score:
620
Program Name:
Smart Solution Plus
Type:
Non-repayable outright grant
Audience:
First-time homebuyers
Feature:
Up to 4% of purchase price for downpayment and closing costs
Property type:
Single-family home, approved condos
Funds needed:
Not declared; borrower can have only "minimal liquid assets"
Income Limits:
$80,000
Counseling/classes required:
Yes
Purchase price limits:
FHA/VA: $294,515; conventional $453,100
Downpayment assistance:
n/a
Credit score:
620
Program Name:
Mortgage Revenue Bond Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA, VA or USDA-backed 30-year FRM
with 3.5% forgivable grant for downpayment and closing costs
Property type:
Single-family home, approved condos
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
Included in this program
Credit score:
n/a
Notes:
No liquid asset limits
Program Name:
Housing Assistance for Teachers (HAT) program
Type:
Purchase mortgage; conventional 30-year fixed-rate
Audience:
Teachers who want to buy a home
Feature:
Up to $6,000 for downpayment and closing costs
Borrower must agree to 3-year employment term in rural "critical needs" district
Property type:
Single-family home, approved condos
Funds needed:
Minimum 1% borrower contribution
Income Limits:
None unless used with other MS housing mortgage
Counseling/classes required:
Yes
Purchase price limits:
FHA/VA: $294,515; conventional $453,100
Downpayment assistance:
n/a
Credit score:
620
Notes:
Property must be located within a county designated by the MS Department of Education
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 40% of interest cost, capped at $2,000
Property type:
Single-family home, approved condos
Funds needed:
$300 reservation fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
n/a
Downpayment assistance:
n/a
Credit score:
n/a
Montana Homebuyer Assistance Programs
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Montana
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Program Name:
80% Combined Program
Type:
FHA, VA- or USDA-backed 30-year fixed-rate mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
Piggyback first and second mortgage for 100% of purchase price
No mortgage insurance
Property type:
Single-family homes
Funds needed:
Borrower contribution of 1% of the purchase price (minimum $1,000)
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640
Notes:
Incomes from all 18+ adults living in the home considered in qualfying
Program Name:
Regular Bond Loan Program
Type:
FHA, VA- or USDA-backed 30-year fixed-rate mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
MT pays 1% of the origination fee to the lender
Property type:
Single-family homes
Funds needed:
Borrower contribution of 1% of the purchase price (minimum $1,000)
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, with FICO below 680 or high debt loads
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Score Advantage or MBOH Plus as below
Credit score:
Not declared
Program Name:
Setaside Program
Type:
FHA, VA- or USDA-backed 30-year fixed-rate mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
MT pays 1% of the origination fee to the lender
Property type:
Single-family homes
Funds needed:
Borrower contribution of 1% of the purchase price (minimum $1,000)
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, with FICO below 680 or high debt loads
Purchase price limits:
Yes; vary by area
Downpayment assistance:
From approved outside sources
Credit score:
Not declared
Program Name:
Montana Veterans Home Loan Program
Type:
FHA, VA- HUD-184 backed 30-year fixed-rate mortgage
Audience:
First-time veteran homebuyers
Feature:
1% lower than market interest rate
Property type:
Single-family homes only, no condos
Funds needed:
Minimum $2,500 borrower investment
Income Limits:
None
Counseling/classes required:
Yes
Purchase price limits:
None, but maximum loan amount $257,607
Downpayment assistance:
Score Advantage or MBOH Plus as below
Credit score:
Not declared
Notes:
Funded by state’s Coal Tax Trust Fund
Program Name:
Score Advantage Down Payment Assistance Program
Type:
15-year second mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
Up to 5% of the purchase price (minimum $1,000; maximum $6,500)
Same interest rate as first mortgage
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Minimum $1,000 borrower contribution; $175 application fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
MBOH Plus 0% Deferred Down Payment Assistance Program
Type:
Second mortgage, 30 years, 0% interest rate with deferred repayment
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
Up to 5% of the purchase price (minimum $1,000; maximum $6,500)
Repaid in full on sale or refinance of property or when first lien matures
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Minimum $1,000 borrower contribution; $100 application fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
Board of Investments (BOI) Residential Mortgages
Type:
Purchase or refinance mortgage
Audience:
First-time and repeat homebuyers
Feature:
15-, 20 and 30-year terms available
Using Fannie Mae/Freddie Mac underwriting criteria
Property type:
1-4 family residential units
Funds needed:
Not declared
Income Limits:
None
Counseling/classes required:
Not declared
Purchase price limits:
$453,100
Downpayment assistance:
Not declared
Credit score:
Likely 620
Notes:
Funded by state’s Coal Tax Trust Fund
Program Name:
Habitat for Humanity Loan
Type:
Purchase mortgage; 30-year fixed rate uderwritten to USDA standards
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
80% of appraised value at 2% MBOH-funded first mortgage;
20% of appraised value at 0% interest rate in Habitat Funds second mortgage
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes; vary by area
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Not declared
Credit score:
Not declared
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 20% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$750 application fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Cannot be used with any MBOH programs
North Carolina Homebuyer Assistance Programs
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Check current North Carolina mortgage rates
Program Name:
NC Home Advantage Mortgage program
Type:
Purchase mortgage, 30-year fixed rate with downpayment assistance
Audience:
First-time and repeat homebuyers
Feature:
Downpayment assistance of up to 5% of loan amount as 15-year second mortgage
DPA has 0% interest rate, no payments, is forgiven at 20% per year starting in year 11
Property type:
Single-family homes, approved condos
Funds needed:
None declared
Income Limits:
$87,500
Counseling/classes required:
Yes, for first-time buyers
Purchase price limits:
Yes; vary by county for FHA, VA or USDA-backed loan; $453,100 for conventional
Downpayment assistance:
As above
Credit score:
640
Program Name:
NC 1st Home Advantage Down Payment program
Type:
Purchase mortgage with downpayment assistance
Audience:
First-time and veteran homebuyers, buyers in target areas
Feature:
Downpayment assistance of up to $8,000 as a 15-year, 0% second mortgage
DPA has no payments, forgiven at 20% per year starting in year 11
Property type:
Single-family homes, approved condos
Funds needed:
None declared
Income Limits:
$87,500
Counseling/classes required:
Yes, for first-time buyers
Purchase price limits:
Yes; vary by county for FHA, VA or USDA-backed loan; $453,100 for conventional
Downpayment assistance:
As above
Credit score:
640
Program Name:
NC Home Advantage Tax Credit
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 30% of interest cost for existing home, (50% new home)
Credit amount capped at $2,000 maximum
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
None declared
Income Limits:
Yes; vary by county
Counseling/classes required:
Not declared
Purchase price limits:
Yes; vary by county
Downpayment assistance:
n/a
Credit score:
640
Notes:
Cannot be used with NC 1st Home Advantage Down Payment program
North Dakota Homebuyer Assistance Programs
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Check current North Dakota mortgage rates
Program Name:
FirstHome Program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed rate
Lower-than-market interest rate
Property type:
Single-family homes, approved condos, rural up to 10 acres
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DCA or Start Programs, as below
Credit score:
Likely 620
Program Name:
HomeAccess Program
Type:
Purchase mortagge
Audience:
Single-parent or veteran homebuyers, buyers with disabled or elderly family
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed rate
Lower-than-market interest rate
Property type:
Single-family homes, approved condos, rural up to 10 acres
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DCA or Start Programs, as below
Credit score:
Likely 620
Program Name:
North Dakota Roots Program
Type:
Purchase mortagge
Audience:
First-time and repeat homebuyers
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed rate
Market interest rate but higher income limits than FirstHome program
Property type:
Single-family homes, approved condos, rural up to 10 acres
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Start Program, as below
Credit score:
Likely 620
Program Name:
Major Home Improvement Program
Type:
Purchase and renovation mortgage
Audience:
First-time homebuyers, existing homeowners
Feature:
Coupled with FirstHome mortgage, as above
Renovations must total 25% of acquisition cost
Property type:
Single-family homes, approved condos
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
DCA or Start Programs, as below
Credit score:
Likely 620
Program Name:
Start Downpayment/Closing Cost Assistance Program
Type:
Second mortgage, 0% interest, 8-year term
Audience:
First-time homebuyers
Feature:
Up to 3% of the purchase price for downpayment and closing costs
Interest rate for first mortgage is higher than DCA program
Property type:
Single-family homes, approved condos
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Likely 620
Program Name:
DCA Downpayment Assistance Program
Type:
Second mortgage, 0% interest, 8-year term
Audience:
First-time homebuyers
Feature:
Up to 3% of the purchase price for downpayment and closing costs
Interest rate for first mortgage is not increased
Property type:
Single-family homes, approved condos
Funds needed:
$500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Likely 620
Nebraska Homebuyer Assistance Programs
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Program Name:
First Home Plus
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA-, VA-, USDA or conventional 30-year fixed-rate mortgage
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$250,000 non-target areas, $300,000 target areas
Downpayment assistance:
Homebuyer Assistance (HBA) as below
Credit score:
640
Program Name:
Military Home
Type:
Purchase mortgage
Audience:
First-time active military and veteran homebuyers
Feature:
FHA-, VA-, or USDA-backed 30-year fixed-rate mortgage
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$250,000 non-target areas, $300,000 target areas
Downpayment assistance:
Homebuyer Assistance (HBA) as below
Credit score:
640
Program Name:
Homebuyer Assistance (HBA)
Type:
Second mortgage, 10-year term with 1% interest rate
Audience:
First-time homebuyers
Feature:
Up to 5% of purchase price for downpayment and closing costs
"Reduces out of pocket expenses to as little as $1,000 in some situations"
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Minimum borrower contribution of $1,000
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$250,000 non-target areas, $300,000 target areas
Downpayment assistance:
n/a
Credit score:
640
New Hampshire Homebuyer Assistance Programs
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Program Name:
Home Preferred
Type:
Purchase or refinance mortgage, 30-year fixed-rate conventional
Audience:
First-time homebuyers
Feature:
Lower mortgage insurance premiums
Property type:
Single-family homes, approved condos
Funds needed:
Standard 3% down and closing costs
Income Limits:
$116,300
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
No
Credit score:
620
Program Name:
Home Preferred No MI
Type:
Purchase or refinance mortgage, 30-year fixed-rate conventional
Audience:
First-time homebuyers
Feature:
No mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
Standard 3% down and closing costs
Income Limits:
$116,300
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
No
Credit score:
680
Program Name:
Home Flex Plus
Type:
Purchase mortgage - FHA-, VA- or USDA-backed 30-year fixed
Audience:
First-time homebuyer
Feature:
Outright grant of up to 3% of the purchase price
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$116,300
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
Home Flex Plus Rehab
Type:
Purchase mortgage - FHA-backed 30-year fixed
Audience:
First-time homebuyer
Feature:
Outright grant of up to 3% of the purchase price
Up to $35,000 for renovatations and updates
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$116,300
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
HomeStart Homebuyer Tax Credit (MCC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 50% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$300 with NHHFA-backed mortgage, $550 otherwise
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Fees waived for veterans taking NHHFA mortgages
New Jersey Homebuyer Assistance Programs
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Program Name:
Homeward Bound
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-, VA- or USDA-backed 30-year fixed-rate
No points
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Can be coupled with SmartStart DPA loan
Credit score:
620
Program Name:
HomeSeeker Down Payment Assistance
Type:
Second mortgage
Audience:
First-time homebuyers in select counties, veterans
Feature:
Up to $10,000 at 0% interest forgiven after 5 years
Atlantic, Burlington, Camden, Essex, Gloucester, Mercer, Passaic or Union County only
Property type:
Single-family homes
Funds needed:
Asset limit of not more than 20% of purchase price
Income Limits:
Vary by county above
Counseling/classes required:
Yes
Purchase price limits:
$437,349
Downpayment assistance:
As above
Credit score:
620
Notes:
Must be coupled with Homeward Bound mortgage
Program Name:
Smart Start DPA loan
Type:
Second mortgage
Audience:
First-time homebuyers in select "smart growth" areas
Feature:
Up to 4% of purchase price forgiven after 5 years
Atlantic, Burlington, Camden, Essex, Gloucester, Mercer, Passaic or Union County only
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Vary by county above
Counseling/classes required:
Yes
Purchase price limits:
$437,349
Downpayment assistance:
As above
Credit score:
620
Notes:
Must be coupled with Homeward Bound mortgage
Program Name:
Police and Fireman's Retirement System Mortgage Program
Type:
Purchase or refinance mortgage
Audience:
Homebuying or owning members of NJ Police & Fireman's Retirement System
Feature:
30-year fixed-rate with below-market interest rate
Rate is 10-year Treasury yield plus 1%
Property type:
Single-family homes, approved condos
Funds needed:
$1,500 up front; $30 per month 1st 3 years, then $18 per month
Income Limits:
Not declared
Counseling/classes required:
Not declared
Purchase price limits:
$453,100
Downpayment assistance:
No
Credit score:
620
Notes:
NJ PFRS members must have one year of creditable service
Program Name:
First-time Homebuyer Program
Type:
Purchase mortgage
Audience:
First-time homebyers
Feature:
FHA-, VA- or USDA-backed 30-year fixed-rate
Below market interest rate
Property type:
Single-family homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Can be coupled with SmartStart DPA loan
Credit score:
Likely 620
New Mexico Homebuyer Assistance Programs
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Program Name:
First Home
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
No origination or discount fees
Competitive interest rates
Property type:
Single-family home
Funds needed:
$500 minimum commitment
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
Available, combined with First Down program
Credit score:
620
Program Name:
First Down
Type:
Downpayment assistance
Audience:
First-time homebuyers
Feature:
30-year second mortgage
Property type:
Single-Family home
Funds needed:
$500 minimum commitment
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
n/a
Credit score:
620
Notes:
Not available as a standalone program; must be combined with First Home Program
Program Name:
Next Home
Type:
Purchase mortgage
Audience:
First-time and repeat borrowers
Feature:
Mortgage and downpayment grant
Property type:
Single-Family home
Funds needed:
$500 minimum commitment
Income Limits:
Yes, but higher than First Home
Counseling/classes required:
Not specified
Purchase price limits:
Yes, but higher than First Home
Downpayment assistance:
3% outright grant, no repayment
Credit score:
620
Nevada Homebuyer Assistance Programs
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Program Name:
Home Is Possible (HIP)
Type:
Purchase mortgage, FHA-, VA or USDA-backed 30 year fixed rate
Audience:
First-time and repeat homebuyers
Feature:
Up to 5% of the purchase price for downpayment and closing costs
Forgivable after 3 years
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$675 fee
Income Limits:
$98,500
Counseling/classes required:
Yes
Purchase price limits:
$400,000
Downpayment assistance:
Included in this program
Credit score:
640
Notes:
Plus program includes Mortgage Credit Certificate
Program Name:
Home Is Possible 1500 - Special offer expires December 31, 2018
Type:
Purchase mortgage, conventional 30-year fixed-rate
Audience:
First-time and repeat homebuyers
Feature:
Up to 5% of purchase price for downpayment/closing costs, forgivable after 3 yrs
Additional $1,500 bonus for closing costs and reduced mortgage insurance costs
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$675 fee
Income Limits:
Yes; vary by area. Much lower than standard HIP
Counseling/classes required:
Yes
Purchase price limits:
$400,000
Downpayment assistance:
Included in this program
Credit score:
640
Notes:
Plus program includes Mortgage Credit Certificate
Program Name:
Home Is Possible for Heroes
Type:
Purchase mortgage, FHA-, VA or USDA-backed 30 year fixed rate
Audience:
Active military and veteran homebuyers
Feature:
Below-market interest rate
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$675 fee
Income Limits:
$98,500
Counseling/classes required:
Yes
Purchase price limits:
$400,000
Downpayment assistance:
No
Credit score:
640
Notes:
Can be combined with Mortgage Credit Certificate; MCC fee waived
Program Name:
Home Is Possible for Teachers
Type:
Purchase mortgage, fixed-rate 30 years
Audience:
Homebuying teachers
Feature:
Up to $7,500 for downpayment and closing costs
Forgivable after 5 years of ownership
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$675 fee
Income Limits:
$98,500
Counseling/classes required:
Yes
Purchase price limits:
$400,000
Downpayment assistance:
Included in this program
Credit score:
640
Notes:
Must be a licensed full-time K-12 public school teacher in Nevada
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 30% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$1095 in application and processing fees
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
New York Homebuyer Assistance Programs
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Program Name:
SONYMA Achieving the Dream Program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
30-year fixed-rate
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
Minimum borrower contribution 1% for houses; 3% for co-ops
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
SONYMA DPAL, as below; increases interest rate by 0.375%
Credit score:
None declared
Program Name:
SONYMA Low Interest Rate Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, buyers in target areas
Feature:
30-year fixed rate
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
Minimum borrower contribution 1% for houses; 3% for co-ops
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
SONYMA DPAL, as below; increases interest rate by 0.375%
Credit score:
None declared
Program Name:
Energy Star Home Program
Type:
Purchase mortgage
Audience:
Buyers of newly-constructed Energy Star compliant homes
Feature:
30-year fixed rate
Base program can be Achieving the Dream or Low Interest Rate program
Property type:
New construction single-family homes
Funds needed:
Minimum borrower contribution 1% for houses; 3% for co-ops
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
SONYMA DPAL, as below; does not increase first mortgage interest rate
Credit score:
None declared
Program Name:
Homes for Veterans Program
Type:
Purchase mortgage
Audience:
Active military or veteran homebuyers
Feature:
30-year fixed rate
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
Minimum borrower contribution 1% for houses; 3% for co-ops
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
SONYMA DPAL, as below; does not increase first mortgage interest rate
Credit score:
None declared
Program Name:
Remodel NY Program
Type:
Purchase and home renovation mortgage
Audience:
First-time homebuyers
Feature:
30-year fixed rate
$1,000 minimum renovation; no maximum declared
Property type:
Single-family homes, approved condos
Funds needed:
Minimum borrower contribution 1%
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
SONYMA DPAL, as below; increases interest rate by 0.375%
Credit score:
None declared
Notes:
Base program can be Achieving the Dream or Low Interest Rate program
Program Name:
SONYMA Conventional Plus
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers, refinancing homeowners
Feature:
Conventional 30-year fixed rate
Reduced PMI costs, no risk-based pricing add-ons to rate
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
No minimum borrower contribution required
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
SONYMA DPAL, as below; increases interest rate by 0.375%
Credit score:
620
Notes:
Follows Fannie Mae HomeReady program requirements
Program Name:
SONYMA FHA Plus
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers, refinancing homeowners
Feature:
FHA-backed 30-year fixed rate
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
Minimum borrower contribution 1%
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
SONYMA DPAL, as below; increases interest rate by 0.375%
Credit score:
640
Program Name:
SONYMA Down Payment Assistance Loan (DPAL)
Type:
Second mortgage for downpayment, closing costs, single-premium PMI
Audience:
First-time homebuyers, buyers in target areas, veterans
Feature:
0% interest rate, forgiven after 10 years
Up to 3% of the purchase price, $15,000 maximum
Property type:
Single-family homes, approved condos, approved co-op apartments
Funds needed:
Minimum borrower contribution 1% for houses; 3% for co-ops
Income Limits:
Yes; vary by region
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by region
Downpayment assistance:
n/a
Credit score:
None decleared
Notes:
Increases interest rate on first mortgage by 0.375% on certain programs
Ohio Homebuyer Assistance Programs
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Ohio
website
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Check current Ohio mortgage rates
Program Name:
First Time Homebuyer Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, purchasers in target areas
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Your Choice! Program, as below
Credit score:
640 conventional, VA, USDA; 660 FHA
Program Name:
Next Home Program
Type:
Purchase mortgage
Audience:
Repeat homebuyers
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Your Choice! Program, as below; packaged with loan
Credit score:
640 conventional, VA, USDA; 660 FHA
Program Name:
Ohio Heroes Program
Type:
Purchase mortgage
Audience:
Veterans, Police, Firefighter, Teachers
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Mortgage interest rate discounted by 0.25%
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Your Choice! Program, as below
Credit score:
640 conventional, VA, USDA; 660 FHA
Program Name:
Grants for Grads Program
Type:
Purchase mortgage
Audience:
Recent college graduate homebuyers
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Discounted mortgage interest rate
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Your Choice! Program, packaged with loan, but forgiven after 5 years
Credit score:
640 conventional, VA, USDA; 660 FHA
Notes:
Requires partial repayment of amount if home sold or refinanced within 5 years
Program Name:
Advantage 50 / Advantage 80
Type:
Purchase mortgage, conventional 30-year fixed rate
Audience:
Very low income homebuyers
Feature:
Outright grants of 2% or 0.5% of purchase price
50% of Area Median Income / 80% of Area Median Income
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Yes; Your Choice! Program, as below
Credit score:
640 conventional, VA, USDA; 660 FHA
Program Name:
Your Choice! Down Payment Assistance
Type:
Second mortgage
Audience:
First-time homebuyers
Feature:
2.5% or 5% of purchase price for downpayment and closing costs
Forgiven after 7 years
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640 conventional, VA, USDA; 660 FHA
Notes:
Requires repayment of full amount if home sold or refinanced within 7 years
Program Name:
Mortgage Tax Credit (MTC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyer or buyer in target area
Feature:
Up to 40% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$1058 plus 0.5% origination fee for OHFA loan, $500 for non-OHFA loans
Income Limits:
Yes; vary by county
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by county
Downpayment assistance:
n/a
Credit score:
640 conventional, VA, USDA; 660 FHA
Notes:
Available for non-OHFA mortgages, but maximums are reduced
Oklahoma Homebuyer Assistance Programs
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Visit
Oklahoma
website
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Participating lenders Contact for more help
Check current Oklahoma mortgage rates
Program Name:
OHFA Advantage Dream
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-, VA- USDA or conventional 30-year fixed
3.5% (FHA) or 5% (conventional) of the purchase price as outright grant
Property type:
Single-family homes, approved condos, townhouses
Funds needed:
Not declared
Income Limits:
$78,000 FHA/VA/USDA; $140,000 conventional
Counseling/classes required:
Yes
Purchase price limits:
$294,515 FHA/VA/USDA; $453,100 conventional
Downpayment assistance:
As above
Credit score:
640
Program Name:
OHFA Advantage Gold
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA, VA- or USDA-backed 30-year fixed rate
3.5% (FHA) of the purchase price as outright grant for downpayment and closing costs
Property type:
Single-family homes, approved condos, townhouses
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$276,100
Downpayment assistance:
3.5% grant
Credit score:
640
Program Name:
OHFA Advantage Shield
Type:
Purchase mortgage
Audience:
Police and Firefighter first-time homebuyers
Feature:
FHA, VA- or USDA-backed 30-year fixed rate
3.5% (FHA) of the purchase price as outright grant for downpayment and closing costs
Property type:
Single-family homes, approved condos, townhouses
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$276,100
Downpayment assistance:
As above
Credit score:
640
Program Name:
OHFA Advantage 4Teachers
Type:
Purchase mortgage
Audience:
First-time homebuying teachers
Feature:
FHA, VA- or USDA-backed 30-year fixed rate
3.5% (FHA) of the purchase price as outright grant for downpayment and closing costs
Property type:
Single-family homes, approved condos, townhouses
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$276,100
Downpayment assistance:
As above
Credit score:
640
Oregon Homebuyer Assistance Programs
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Oregon
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Check current Oregon mortgage rates
Program Name:
Cash Advantage program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA- or USDA-backed 30-year fixed rate
3% of loan amount for closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Not declared
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
Likely 620
Program Name:
Rate Advantage program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA- or USDA-backed 30-year fixed rate
Lower-than-market interest rate
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Not declared
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None
Credit score:
Likely 620
Pennsylvania Homebuyer Assistance Programs
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Pennsylvania
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Check current Pennsylvania mortgage rates
Program Name:
HFA Preferred Risk Sharing
Type:
Purchase or refinance mortgage, 30-year fixed rate
Audience:
First-time and repeat homebuyers, homeowners
Feature:
No Private Mortgage Insurance (PMI) but slightly higher interest rate
Property type:
Single-family homes
Funds needed:
$1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Keystone Advantage Assistance Loan, as below
Credit score:
620
Program Name:
HFA Preferred Low MI
Type:
Purchase or refinance mortgage, 30-year fixed rate
Audience:
First-time and repeat homebuyers, homeowners
Feature:
Reduced private mortgage insurance cost
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$453,100
Downpayment assistance:
Keystone Advantage Assistance Loan, as below
Credit score:
620
Program Name:
Keystone Home Loan
Type:
Purchase mortgage
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
FHA-, VA, USDA-backed or conventional 30-year fixed rate
Property type:
Single-family homes, approved condos
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Keystone Advantage Assistance Loan, as below
Credit score:
620
Notes:
MCC cannot be used wih this program
Program Name:
Keystone Government Loan
Type:
Purchase or refinance mortgage
Audience:
First-time homebuyers, homeowners, veterans, buyers in target areas
Feature:
FHA, VA- or USDA-backed 30-year fixed-rate
Property type:
Single-family homes, approved condos
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Keystone Advantage Assistance Loan, as below
Credit score:
620
Program Name:
Keystone Advantage Assistance Loan
Type:
Second mortgage, 0% interest, 10-year term
Audience:
First-time and repeat homebuyers
Feature:
Up to 4% of the purchase price, capped at $6,000
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
660
Notes:
Remaining liquid assets cannot exceed $50,000
Program Name:
HOMEstead Downpayment and Closing Cost Assistance Loan
Type:
Second mortgage, 0% interest, 5 year term,
Audience:
First-time homebuyers; single parents and repeat buyers in target areas
Feature:
Up to $10,000 loan, forgiven at 20% per year (no payments)
Minimum loan $1,000
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; special limits of 80% of Area Median Income apply
Counseling/classes required:
Yes
Purchase price limits:
Yes; special limits apply
Downpayment assistance:
As above
Credit score:
620
Notes:
Most major cities and seven counties are wholly excluded from the program
Program Name:
Employer Assisted Housing Initiative
Type:
Second mortgage, 0% interest, 10-year term
Audience:
Homebuying medical, school, police and fire personnel, county workers, laborers, etc
Feature:
Up to $8,000 for downpayment and closing costs, no percentage cap
Available to employees of 49 different companies
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
660
Program Name:
Access Home Modification Program
Type:
Second mortgage, 0% interest, up to $10,000 with no payments
Audience:
Homebuyers or homebuying families with disabilities
Feature:
Minimum $1,000. Loan repaid upon sale of property.
Funds to renovate the home according to needs
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Can be paired with Access Downpayment Assistance below
Credit score:
620
Notes:
Must be paired with Keystone Home Loans programs
Program Name:
Access Downpayment and Closing Cost Assistance Program
Type:
Second mortgage, 0% interest, up to $15,000 with no payments
Audience:
Homebuyers or homebuying families with disabilities
Feature:
Minimum $1,000. Loan repaid upon sale of property.
Minimum loan $1,000
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution; $5,000 liquid asset limit
Income Limits:
Yes; special limits of 80% of Area Median Income apply
Counseling/classes required:
Yes
Purchase price limits:
Yes; special limits apply
Downpayment assistance:
As above
Credit score:
620
Notes:
Must be coupled with Access Home Modification Program
Program Name:
Purchase Improvement Home Loan
Type:
Up to $15,000 for home improvements/updates
Audience:
Homebuyers looking to upgrade a home
Feature:
Loan amount incorporated into first loan amount
Slightly higher interest rate on mortgage
Property type:
Single-family homes
Funds needed:
1% or $1,000 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Notes:
Must be paired with conventional Keystone Home Loan programs
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
20% to 50% of interest cost, depending on loan amount, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
No fee
Income Limits:
Yes; vary by county
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by county
Downpayment assistance:
n/a
Credit score:
640
Rhode Island Homebuyer Assistance Programs
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Rhode Island
website
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Check current Rhode Island mortgage rates
Program Name:
FirstHomes 100
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA-, VA- or USDA-backed 30-year fixed rate
100% financing (no down payment)
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$87,360
Counseling/classes required:
Yes
Purchase price limits:
$441,176
Downpayment assistance:
No
Credit score:
Not declared
Program Name:
FirstHomes 100+
Type:
Purchase and rehabiliation mortgage
Audience:
First-time homebuyers looking to upgrade a home
Feature:
FHA203K-backed 30-year fixed rate
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$87,360
Counseling/classes required:
Yes
Purchase price limits:
$441,176
Downpayment assistance:
No
Credit score:
Not declared
Program Name:
Beyond FirstHomes
Type:
Purchase or refinance mortgage
Audience:
Repeat buyers, homeowners
Feature:
3% down, no mortgage insurance for eligible buyers or owners
Conventional 30-year fixed rate
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Not declared
Counseling/classes required:
No
Purchase price limits:
$441,176 for purchase; $431,250 refinance
Downpayment assistance:
No
Credit score:
Not declared
Program Name:
LastingHomes - Home Equity
Type:
Home equity, home repair or lead-abatement loans
Audience:
Homeowners with FirstHomes mortgages
Feature:
Home improvement / renovation loans
$5,000 to $60,000 with 5 to 20-year terms
Property type:
Single-family homes, approved condos
Funds needed:
$350 origination fee
Income Limits:
Not declared
Counseling/classes required:
No
Purchase price limits:
n/a
Downpayment assistance:
No
Credit score:
Not declared
Program Name:
LastingHomes - Home Improvement
Type:
Home repair mortgage
Audience:
Homeowners with FirstHomes mortgages
Feature:
Home improvement / renovation loans
Up to $25,000 with 5 to 20-year terms
Property type:
Single-family homes, approved condos
Funds needed:
$350 origination fee
Income Limits:
$87,360
Counseling/classes required:
No
Purchase price limits:
n/a
Downpayment assistance:
No
Credit score:
Not declared
Program Name:
FirstDown
Type:
Second mortgage
Audience:
First-time homebuyers
Feature:
$7,500 with a 5-year term, 0% interest, forgiven after 5 years
Available only in Cranston, East Providence, Pawtucket, Providence, Warwick, Woonsocket
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$87,360
Counseling/classes required:
No
Purchase price limits:
$431,250
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
http://www.firstdownri.org/ Loan repaid if home sold, refinanced
Program Name:
FirstHome Tax Credit (MCC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers
Feature:
20% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
No fee
Income Limits:
$87,360
Counseling/classes required:
Yes
Purchase price limits:
$441,176
Downpayment assistance:
n/a
Credit score:
640
South Carolina Homebuyer Assistance Programs
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Visit
South Carolina
website
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Check current South Carolina mortgage rates
Program Name:
Homeownership Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, buyers in target areas
Feature:
FHA-, USDA or conventional 30-year fixed-rate
Conventional offers reduced private mortgage insurance costs
Property type:
Single-family homes, approved condos
Funds needed:
1% origination fee and typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, if down payment assistance program used
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Repayable or Forgivable, as below
Credit score:
FHA 620; USDA, Conventional 640
Program Name:
Repayable Down Payment Assistance
Type:
Second mortgage, 10 year term, 2% interest rate
Audience:
First-time homebuyers
Feature:
Up to $6,000 available
Must have income above 80% of Area Median Income
Property type:
Single-family homes, approved condos
Funds needed:
1% origination fee and typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$225,000
Downpayment assistance:
n/a
Credit score:
FHA 620; USDA, Conventional 640
Program Name:
Forgivable Down Payment Assistance
Type:
Second mortgage, 10 year term, 0% interest rate, forgiven after 10 years
Audience:
First-time homebuyers
Feature:
Up to $6,000 available
Must have income below 80% of Area Median Income
Property type:
Single-family homes, approved condos
Funds needed:
1% origination fee and typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
FHA 620; USDA, Conventional 640
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
50% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
No fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$275,000
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
MCC cannot be used in conjunction with a SC Housing bond or FHA 203(k) loan.
South Dakota Homebuyer Assistance Programs
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South Dakota
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Check current South Dakota mortgage rates
Program Name:
Fixed Rate Program
Type:
Purchase mortgage
Audience:
First-time homebuyers
Feature:
FHA- VA- USDA-backed or conventional 30-year fixed rate
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Optional if FHA-backed; required if coventional
Purchase price limits:
$250,200
Downpayment assistance:
n/a
Credit score:
620
Program Name:
Fixed Rate Plus Program
Type:
Downpayment Grant
Audience:
First-time homebuyers
Feature:
3% non-repayable grant for down payment and closing costs
Interest rate is 0.5% higher than standard fixed-rate program
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Optional if FHA-backed; required if conventional
Purchase price limits:
$250,200
Downpayment assistance:
As above
Credit score:
620
Program Name:
Grants for Grads program
Type:
Downpayment Grant
Audience:
First-time homebuyers with recent postsecondary degrees
Feature:
5% non-repayable grant for down payment and closing costs
Interest rate is 0.5% higher than standard fixed-rate program
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Optional if FHA-backed; required if coventional
Purchase price limits:
$250,200
Downpayment assistance:
As above
Credit score:
620
Notes:
Must have earned degree from accredited postsecondary educational facility within 60 months
Program Name:
Repeat Homebuyer Program
Type:
Purchase mortgage
Audience:
Homebuyers who have owned a home within three years
Feature:
FHA- VA- USDA-backed or conventional 30-year fixed rate
Can have optional down payment assistance up to 3%
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$85,560 for family of two; $99,820 for 3 or more
Counseling/classes required:
Optional if FHA-backed; required if coventional
Purchase price limits:
$305,800
Downpayment assistance:
Yes, if Fixed Rate Plus option selected
Credit score:
620
Notes:
MCC cannot be used with this program
Program Name:
Governor's House Program
Type:
Modular Home Program
Audience:
Low income first-time homebuyers , elderly homebuyers, persons with disabilities
Feature:
SD sells low-cost homes outright to qualified borrowers
Buyer must provide lot, permits, utility hookups and more
Property type:
Modular/Manufactured home
Funds needed:
Lot, foundation, hookups, permits and more
Income Limits:
Yes; vary by age and family size
Counseling/classes required:
Not declared
Purchase price limits:
n/a
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Buyer can have no more than $90,000 liquid assets
Program Name:
SDHDA Tax Credit (Mortgage Credit Certificate)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
30% to 50% of interest cost, depending on loan amount, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$750; reduced if used with SDHDA mortgage program
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$250,200; $305,800 in target areas
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
MCC cannot be used in conjunction with a SC Housing bond or FHA 203(k) loan.
Tennessee Homebuyer Assistance Programs
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Tennessee
website
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Check current Tennessee mortgage rates
Program Name:
Great Choice Home Loan
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA, USDA- or VA backed 30-year fixed-rate mortgage
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
No
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Great Choice Plus program below
Credit score:
640
Program Name:
Great Choice Plus
Type:
Second mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
30-year second mortgage, 0% interest, no payments
Up to 5% of purchase price
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
640
Notes:
Funds repaid upon sale or refinance of home
Program Name:
Homeownship for the Brave program
Type:
Purchase mortgage
Audience:
Veteran and active military homebuyers
Feature:
VA-, USDA or FHA-backed 30-year fixed-rate mortgage
0.5% interest rate reduction from Great Choice program
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Same as Great Choice Plus progam
Credit score:
640
Program Name:
Take Credit Mortgage Credit Certificate (MCC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
50% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
$750; reduced if used with SDHDA mortgage program
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
$250,200; $305,800 in target areas
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Not available for THDA bond-financed loans including the Great Choice Mortgage Loan Program.
Texas Homebuyer Assistance Programs
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Texas
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Program Name:
My First Texas Home
Type:
Purchase mortgage, 30-year fixed rate
Audience:
First-time homebuyers, buyers in target areas
Feature:
Up to 5% of purchase price for downpayment or closing costs as
30-year second mortgage, 0% interest, no payments
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Notes:
Assistance repaid on sale, refinance or pay off of first mortgage.
Program Name:
Homes for Texas Heroes
Type:
Purchase mortgage - FHA-, VA-, USDA or conventional 30-year fixed rate
Audience:
Police, Firefighters, Teachers, Veterans, etc homebuyers
Feature:
3% to 5% of the loan amount as outright, non-repayable grant
for downpayment and closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
Home Sweet Texas Home
Type:
Purchase mortgage - FHA-, VA-, USDA or conventional 30-year fixed rate
Audience:
First-time and repeat homebuyers
Feature:
3% to 5% of the loan amount as outright, non-repayable grant
for downpayment and closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
As above
Credit score:
620
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
40% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos
Funds needed:
$725, but $500 waived if used with My First Texas Home mortgage
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Can be combined with My First Texas Home or Home Sweet Home programs
Utah Homebuyer Assistance Programs
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Visit
Utah
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Utah mortgage rates
Program Name:
First Home Loan
Type:
Purchase mortgage and downpayment loan
Audience:
First-time homebuyers
Feature:
FHA- or VA-backed 30-year fixed rate
Up to 6% of the first loan amount for downpayment and closing costs
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Yes, vary by area
Downpayment assistance:
As above
Credit score:
660
Notes:
Downpayment loan rate is 2% above first mortgage rate
Program Name:
Home Again Loan
Type:
Purchase mortgage and downpayment loan
Audience:
First-time and repeat borrowers
Feature:
FHA- or VA-backed 30-year fixed rate
Up to 6% of the first loan amount for downpayment and closing costs
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
No
Purchase price limits:
Yes, vary by area
Downpayment assistance:
As above
Credit score:
660
Notes:
Downpayment loan rate is 2% above first mortgage rate
Program Name:
Score Loan
Type:
Purchase mortgage and downpayment loan
Audience:
First-time and repeat borrowers
Feature:
FHA- or VA-backed 30-year fixed rate
Up to 4% of the first loan amount for downpayment and closing costs
Property type:
Single-family home
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes, vary by area
Downpayment assistance:
As above
Credit score:
620
Notes:
Downpayment loan rate is 2% above first mortgage rate
Program Name:
NoMI Loan
Type:
Purchase mortgage and downpayment loan
Audience:
First-time and repeat borrowers
Feature:
Loan is Fannie Mae conventional 30-year FRM
Up to 5% of the first loan amount for downpayment and closing costs
Property type:
Single-family home, no manufactured homes
Funds needed:
Not declared
Income Limits:
Yes, vary by area
Counseling/classes required:
Determined by lender
Purchase price limits:
Yes, vary by area
Downpayment assistance:
As above
Credit score:
700
Notes:
Downpayment loan rate is 2% above first mortgage rate
Virginia Homebuyer Assistance Programs
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Virginia
website
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Check current Virginia mortgage rates
Program Name:
Fannie Mae HFA Preferred Reduced MI
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Reduced mortgage insurance costs
First-time buyers eligible for DPA grant
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
VHDA DPA Grant, as below
Credit score:
640
Notes:
Can be coupled with Mortgage Credit Certificate
Program Name:
Fannie Mae 97 No MI
Type:
Purchase or refinance mortgage
Audience:
First-time and repeat homebuyers, homeowners
Feature:
No mortgage insurance required
First-time buyers eligible for DPA grant
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
VHDA DPA Grant, as below
Credit score:
660
Notes:
Can be coupled with Mortgage Credit Certificate
Program Name:
FHA Plus
Type:
Purchase mortgage coupled with 30-year second mortgage
Audience:
First-time homebuyers
Feature:
Up to 3% of purchase price
Property type:
Single-family homes, approved condos
Funds needed:
Minimum 1% borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Included in this program
Credit score:
620 / 680 for additional funds for closing costs
Notes:
Can be coupled with Mortgage Credit Certificate
Program Name:
FHA
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Standard FHA but can be coupled with downpayment assistance
and mortgage credit certificate, lowering costs
Property type:
Single-family homes, approved condos
Funds needed:
Typical downpayment and closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
VHDA DPA Grant, as below
Credit score:
620
Notes:
Can be coupled with Mortgage Credit Certificate
Program Name:
VA
Type:
Purchase mortgage
Audience:
First-time and repeat veteran and military homebuyers
Feature:
Standard VA offer but can be coupled with mortgage credit certificate
Property type:
Single-family homes, approved condos
Funds needed:
Typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None needed - already 0% down
Credit score:
620
Program Name:
USDA
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers in "rural" areas
Feature:
Standard USDA offer but can be coupled with mortgage credit certificate
Property type:
Single-family homes, approved condos
Funds needed:
Typical closing costs
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
None needed - already 0% down
Credit score:
620
Program Name:
Down Payment Assistance (DPA) Grant
Type:
Downpayment and closing cost grant
Audience:
First-time homebuyers
Feature:
2% to 2.5% of the loan amount (program dependent)
Outright gift, no repayment
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
FHA 620; Conventional No MI 660; Conventional Reduced MI 640
Notes:
Can be combined with Mortgage Credit Certificate
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
20% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Vermont Homebuyer Assistance Programs
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Vermont
website
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Participating lenders Contact for more help
Check current Vermont mortgage rates
Program Name:
MOVE program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat homebuyers (select areas)
Feature:
VHFA's lowest interest rate
Savings of up to $825 on Vermont Property Transfer Tax
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
ASSIST program, as below
Credit score:
Likely 620
Notes:
Can be coupled with mortgage credit certificate
Program Name:
Advantage program
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Reduced mortgage insurance costs
Savings of up to $825 on Vermont Property Transfer Tax
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
None declared
Downpayment assistance:
ASSIST program, as below
Credit score:
Likely 620
Program Name:
ASSIST - down payment and closing cost assistance
Type:
Second mortgage
Audience:
First-time homebuyers
Feature:
Up to $5,000 at 0% interest, 30 year term, no payments
Loan paid when home is sold, refinanced or paid off
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Likely 620
Notes:
Liquid assets cannot exceed $30,000
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
20% of interest cost, capped at $2,000
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Notes:
Can be combined with MOVE program
Washington Homebuyer Assistance Programs
Interested? Get more help, learn details, find participating lenders
Visit
Washington
website
Qualification info Homebuyer classes
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Check current Washington mortgage rates
Program Name:
Home Advantage Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat homebuyers
Feature:
FHA-, VA-, USDA-backed or conventional 30-year fixed rate mortgage
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$97,000
Counseling/classes required:
Yes
Purchase price limits:
Not declared
Downpayment assistance:
First-time buyer only in Home Advantage Downpayment Program below
Credit score:
620
Program Name:
Home Advantage Downpayment Program
Type:
30-year second mortgage
Audience:
First-time homebuyers
Feature:
0% interest, deferred repayments
Up to 5% in downpayment / closing cost assistance
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$97,000
Counseling/classes required:
Yes
Purchase price limits:
Not declared
Downpayment assistance:
As above
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
Program Name:
Home Advantage Needs-Based Downpayment Program
Type:
30-year second mortgage
Audience:
First-time homebuyers
Feature:
1% interest, deferred repayment
Up to $10,000 for downpayment / closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$97,000 King/Snohomish counties; $81,100 elsewhere
Counseling/classes required:
Yes
Purchase price limits:
Not declared
Downpayment assistance:
As above
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
Program Name:
Home Advantage Veteran's Downpayment Program
Type:
Deferred repayment 30-year second mortgage
Audience:
First-time veteran homebuyers
Feature:
3% interest, 30-year term
Up to $10,000 for downpayment / closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$97,000 King/Snohomish counties; $81,100 elsewhere
Counseling/classes required:
Yes
Purchase price limits:
Not declared
Downpayment assistance:
As above
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
Program Name:
House Key Opportunity Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
Reduced mortgage interest cost
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area and houshold size
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area and houshold size
Downpayment assistance:
As below
Credit score:
620
Program Name:
House Key Opportunity Downpayment Assistance Program
Type:
Deferred repayment 30-year second mortgage
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
1% interest, 30-year term
Up to $10,000 for downpayment / closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area and houshold size
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area and houshold size
Downpayment assistance:
n/a
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
Program Name:
HomeChoice Downpayment Assistance Loan Program
Type:
Deferred repayment 30-year second mortgage
Audience:
Disabled first-time homebuyers or families with disabilities
Feature:
1% interest, 30-year term
Up to $15,000 for downpayment / closing costs
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
$97,000 King/Snohomish counties; $81,100 elsewhere
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area and houshold size
Downpayment assistance:
n/a
Credit score:
620
Notes:
Available for Home Advantage and House Key Loans
Wisconsin Homebuyer Assistance Programs
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
Program Name:
Easy Close DPA
Type:
Second mortgage, 10-year term
Audience:
First-time homebuyers
Feature:
Up to $3.5% of purchase price for downpayment and closing costs, $1,000 minimum
Interest rate same as first mortgage
Property type:
Single-family homes, approved condos
Funds needed:
$30 mortgage recording fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Program Name:
WHEDA Tax Advantage (MCC)
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
25% of interest cost in non-target areas, capped at $2,000
40% for target areas of qualified veterans, capped at $2,000
Property type:
Single-family homes, approved condos
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
Not declared
Program Name:
WHEDA Advantage Home Loan
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
Conventional 30-year fixed rate
Lowest monthly mortgage payments
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, if first-time buyer
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Capital Access or Easy Close programs, as below
Credit score:
620
Program Name:
First-time Home Buyer Advantage
Type:
Purchase mortgage
Audience:
First-time homebuyers, veterans, buyers in target areas
Feature:
Conventional 30-year fixed rate
Below market interest rate
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Capital Access or Easy Close programs, as below
Credit score:
620
Program Name:
Veteran's Affordable Loan Opportunity Rate (VALOR)
Type:
Purchase mortgage
Audience:
Veteran homebuyers
Feature:
Conventional 30-year fixed rate
Reduced interest rate
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, if first-time buyer
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Capital Access or Easy Close programs, as below
Credit score:
620
Notes:
Property must be owner occupied for the life of the loan
Program Name:
WHEDA FHA Advantage Home Loan
Type:
Purchase mortgage
Audience:
First-time and repeat homebuyers
Feature:
FHA-backed 30-year fixed rate
Low closing costs and flexible underwriting
Property type:
Single-family homes, approved condos
Funds needed:
No minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, if first-time buyer
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Capital Access or Easy Close programs, as below
Credit score:
620
Program Name:
Capital Access Advantage DPA
Type:
Second mortgage
Audience:
First-time homebuyers in "high-needs housing market area"
Feature:
30 year term, 0% interest, payments deferred
Up to $3,500 for down payment and closing costs
Property type:
Single-family homes, approved condos
Funds needed:
$30 mortgage recording fee
Income Limits:
Yes; vary by county and family size
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
West Virginia Homebuyer Assistance Programs
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
Program Name:
Homeownership program
Type:
Purchase mortgage
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Up to 100% financing available
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Homeownership DPA below
Credit score:
620
Program Name:
Homeownership DPA
Type:
15-year second mortgage, 2% interest rate
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
$7,500 for loans with less than a 10% down payment
$10,000 for loans with more than a 10% down payment
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Program Name:
Movin' Up Loan Program
Type:
Purchase mortgage
Audience:
Repeat homebuyers
Feature:
FHA-, VA-, USDA or conventional 30-year fixed rate
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
$113,760 for up to 2 person household; $132,720 for 3 or more
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Movin' Up DPA below
Credit score:
620
Notes:
Income limits include all non-student adults living in the home
Program Name:
Movin' Up DPA
Type:
15-year second mortgage, 2% interest rate
Audience:
First-time homebuyers, repeat buyers in target areas
Feature:
$5,000 for loans with less than a 10% down payment
$8,000 for loans with more than a 10% down payment
Property type:
Single-family homes, approved condos, townhomes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Wyoming Homebuyer Assistance Programs
Interested? Get more help, learn details, find participating lenders
Visit
Wyoming
website
Qualification info Homebuyer classes
Participating lenders Contact for more help
Check current Wyoming mortgage rates
Program Name:
First-time Home Buyer Program
Type:
Purchase mortgage
Audience:
First-time homebuyers, buyers in target areas, veterans
Feature:
FHA-, VA- or USDA-backed 30-year fixed rate
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Home$tretch DPA Loan, as below
Credit score:
620
Notes:
Veteran and active military can receive "military preference" interest rate reduction
Program Name:
Spruce Up Program
Type:
Purchase and rehabilitation mortgage
Audience:
First-time homebuyers, buyers in target areas, veterans
Feature:
FHA- or USDA-backed 30-year fixed rate
Up to $35,000 for upgrades and renovations
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
Home$tretch DPA Loan, as below
Credit score:
620
Program Name:
WCDA Advantage
Type:
Purchase or refinance mortgage
Audience:
Homebuyers and homeowners
Feature:
FHA-, VA- or USDA-backed 30-year fixed rate
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Not declared
Income Limits:
$100,000
Counseling/classes required:
Yes, if first-time homebuyer
Purchase price limits:
No limit
Downpayment assistance:
Amortizing DPA Loan, as below
Credit score:
620
Program Name:
HFA Preferred
Type:
Purchase or refinance mortgage
Audience:
Homebuyers and homeowners
Feature:
Conventional 30-year fixed rate
Low cost mortgage insurance
Property type:
Single-family homes, approved condos, town homes
Funds needed:
Not declared
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes, if first-time homebuyer
Purchase price limits:
$453,100
Downpayment assistance:
Amortizing DPA Loan, as below
Credit score:
620
Program Name:
Home$tretch Down Payment Assistance (DPA) loan
Type:
Second mortgage, 30-year term
Audience:
First-time homebuyers
Feature:
Up to $10,000 loan amount
0% interest rate, deferred repayment
Property type:
Single-family homes, approved condos, town homes
Funds needed:
$1,500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Notes:
Loan repaid when home sold, refinanced or paid off
Program Name:
Amortizing DPA Loan
Type:
Second mortgage, 10-year term
Audience:
First-time homebuyers, repeat homebuyers
Feature:
Up to $10,000 loan amount
Market-based interest rate
Property type:
Single-family homes, approved condos, town homes
Funds needed:
$1,500 minimum borrower contribution
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Notes:
Available for Advantage and HFA Preferred products only
Program Name:
Mortgage Credit Certificate
Type:
Interest credit on Federal taxes
Audience:
First-time homebuyers, buyers in target areas
Feature:
20% to 40% of interest cost based on loan size, capped at $2,000
Property type:
Single-family homes, approved condos, town homes
Funds needed:
$250 fee
Income Limits:
Yes; vary by area
Counseling/classes required:
Yes
Purchase price limits:
Yes; vary by area
Downpayment assistance:
n/a
Credit score:
620
Mortgage Rates from 0.00%