These are my program guidelines
Minimum FICO: 600

Maximum CLTV: 100%

3.5% Down Payment Assistance

Repayment Options & Terms
Repayable 2nd or Forgivable 2 nd after 10 years

Single Family Residence , Duplex, Double Wide Manufactured Homes, PUD, Townhouses, Condos Allowed
*Max Loan Amount Per County Limit (1st Lien Only)

*Hud Approved*

What is Down Payment Assistance?

Down payment assistance (DPA) is a home-buying program that gives cash grants, low-rate loans, and tax incentives to eligible buyers.

Examples of downpayment assistance include:

$25,000 cash grant for a down payment on a home
Cash for mortgage discount points and other closing costs
Mortgage loans at subsidized interest rates
Forgivable loans for a downpayment on a home
State and local tax credits for home buyers
Other downpayment assistance programs grant cash for specific uses, such as making home repairs and renovations which raise property values.

Downpayment assistance programs are funded by government agencies, private foundations, and local charities. Awards vary based on where you live, how much you earn, and how soon you apply.

How Does Down Payment Assistance Work?

Down payment assistance programs work by making homeownership more affordable to first-time home buyers.

Down payment assistance programs are administered at federal, state, and local levels. Federal DPA programs include first-time home buyer tax credits, cash grants to buy homes, and interest rate subsidies that maximize home affordability.

Most DPA programs, though, are administered by state and local governments, and private entities and charitable organizations.

Non-federal programs often prescribe specific mortgage types to buyers, such as the FHA mortgage; and require additional paperwork separate from the lender’s mortgage application.

Some DPA programs target professionals, such as teachers, nurses, and EMTs. Others are available to any home buyer in a specific neighborhood or street.

Our Advice To Home Buyers: When Down Payment Assistance Is Available Without Rules,
Use It

Down payment assistance programs are available to most U.S. home buyers and buyers should consider them, when they’re available. Down payment assistance makes homes more affordable and helps renters achieve their American Dream.

Some programs, such as the federal programs that offer tax credits and incentives to qualified first-time buyers, are automatic and non-conditional. They impose no other restrictions.

State and local programs, however, may place constraints on financing or home type, and require buyers to use a specific mortgage type or mortgage companies, offsetting the benefits of the down payment assistance program entirely.

If you plan to use a state of local down payment assistance program, perform a side-by-side comparison of buying a home with and without a DPA to ensure you’re getting a good deal.