Many individuals aren’t aware that there are options out there to help with cash to close, interest rates, mortgage insurance, and other aspects of the loan.
 
FHA 2% Grant Program
Minimum Credit Score 580  
Grant does not need to be paid back
1.5% down payment
6% closing help from seller
Close in 30 days
Contact me today 202-600-8963
 
FHA 0 Money Down
·         3.5% down payment assistance
·         Households who make less than $115% AMI – no repayment or interest on assistance and can be forgiven after 3 years of timely payments
·         Min FICO score 640
·         Max loan amount is FHA conforming limit
·         30 day contract
·         No other Real Property owned at closing
 
 
FHLB Grant Funds (Any loan product)
 
·         Up to $5,000 in grant funds
·         Up to $7,500 for law enforcement, first responders, nurses, and teachers.
·         45 day contract
·         All other loan details are not affected 
·         Income limit – 80% median by county (adjusted for household size)
·         Must be first time buyer
 
 
HomeReady (FNMA)
 
·         Conventional supplement designed to help make housing more affordable for buyers
·         Reduced interest rate
·         Reduced mortgage insurance
·         3% minimum down payment
·         Gift funds and other grant funds OK (FHLB)
·         Income limit set by census tract (waived in targeted areas)