Are you, or someone you know...

 a   First-Time Home Buyer, currently Employed or Retired Veteran or Community Worker, or a Volunteer/Non-Paid Member of a non-profit?  

NEED DOWN PAYMENT ASSISTANCE?                                                                                  YOU'VE COME TO THE RIGHT PLACE!

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AFFORDABLE HOME LOANS empowers our buyers with our ever-expanding array of programs to find the perfect fit for their new home financing.

We are pleased to announce our latest offering – a nationwide down payment assistance program, offered by an approved governmental entity which you may use with either the FHA 203(b) program or any of our FHA renovation programs.  Have a borrower who has found the perfect location, but the house needs some TLC? This program may be just the thing!
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  • One program used for all types of borrowers, with the same qualifications
  • Completely forgivable grant, equals 2% of purchase price
  • May be combined with up to 6% seller concession for closing costs
  • No resale or borrower repayment restrictions
  • No underwriting fee
  • Debt ratios up to 49%
  • Credit Scores as low as 580
  • Must have 2 months PITI in reserves (checking, savings, money market, CD, 401K, TSP etc)

To be eligible for the program, the borrower(s) must meet one of the three following categories outlined. (First-Time Home Buyer, Current/Retired Employment or Volunteer/Non-Paid Member or Income)
 
Any Borrower on the loan application is a First-Time Home Buyer who meets the following criteria:
  • Is purchasing the Subject Property;
  • Will reside in the Subject Property as their principal residence;
  • Has had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the application.
 
  • Or, is an individual who is a homemaker or single parent that has no ownership interest in a principal residence (other than a joint ownership interest with a (former) spouse) during the three-year period preceding the date of the application
 
Any Borrower on the loan application is a current, retired, volunteer or non-paid:
  • First responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT) or similar.
  • Educator (Sunday school teacher, tutor, day care provider)
  • Medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar)
  • Civil servant in a Federal, state or local municipality
  • Military personnel



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FOR MORE INFORMATION CONTACT
THE AFFORDABLE HOME LOANS TEAM TODAY!