First Time Home Buyer 3.5% Grant for FHA Down Payment AssistanceUpdated December 8, 2021
First Time Home Buyer 3.5% Grant with down payment assistance that covers your FHA required 3.5% down payment!Program Features:
- Special FHA 100% Financing program with down payment assistance grant.
- Minimum middle FICO version 5-4-2 scores 660 or above.
- Competitively priced FHA loan for First Time Home Buyers.
- No first time home buyer requirement in most circumstances.
- 3.5% Grant from Non-Profit 96.5% LTV, eligible FHA approved mortgage.
- FHA Mortgage with grant must meet Desktop Underwriting FHA loan guideline eligibility.
- Maximum Back End DTI Ratio = 48.99%.
- FHA loan amounts and Acquisition price limits apply.
- Primary Residences only. No Investment properties. No 2-4 units.
- Manufactured Housing allowed.
- Must be either a First Time Homebuyer, for anyone involved in the Healthcare administration, Civil Servant in a Federal, State or Local Municipality, Police, Sheriffs Department Law Enforcement administration, Military Veterans, Firefighters and firehouse administration, Municipal School Administration, Civic Volunteers.
- All First Time Home Buyer(s) subject to 140% of the HUD Median Income for County where the property is located.
- Down Payment Assistance Grant can be used with FHA 203B, FHA Repair Escrow, FHA Limited & Standard 203K Renovation Loans
- Co-Signors/Non-occupying Co-Borrowers allowed if related by blood, marriage or law and Agency guidelines.
- 1st Time Home Buyer may have a NON-FHA ownership interest in other property under certain conditions.
- HUD / FHA approved Homebuyer education required before Closing.
- First Time Home Buyer(s) 1003 Income must be less than 140% of HUD Median Income for County where the property is located.