First-Time Homebuyer

First-Time Homebuyer

100% Program - 100% Rate Advantage Program With this program, you are able to lock their first mortgage at market comparable rate. You will need to meet the minimum credit score of 640, have a debt to income ratio of 50% or less, and have a qualifying household income less than or equal to 135% of the median income for the county in which you will live. The Rate Advantage program offers both 3.5% down payment assistance and 5% down payment assistance.

FHLB Grant - The FHLB Program provides grants to homebuyers by providing funds as a down payment, closing cost, or counseling assistance, or as rehabilitation assistance to homeowners. For the loan program, you must be a first-time homebuyer or a “community partner,” which is defined as an employed or retired law enforcement officer, educator, firefighter, emergency medical services or health care worker, other first responder and non-active-duty National Guard reservist. Homebuyers may be eligible for grants between $7,500 – $10,000.