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Florida Housing
Florida Housing’s First Time Homebuyer (FTHB) Program offers 30-year fixed rate FIRST mortgage loans to first-time homebuyers and qualified veterans in Florida.
This program uses income and purchase price limits to determine eligibility.
Potential borrowers must:
- Complete a Homebuyers Education Class
- Qualify for a Mortgage loan and a qualifying FICO Score
Florida Housing also offers down payment and closing cost assistance in the form of a second mortgage loan to assist eligible homebuyers with their down payment and closing costs. Down payment assistance is only available when used in conjunction with Florida Housing’s first mortgage loan. Down payment assistance is NOT available as “stand-alone” down payment assistance. It is only available when used in conjunction with one of Florida Housing’s Homebuyer Programs.
The Mortgage Credit Certificate (MCC) Program offers eligible first-time homebuyers a nonrefundable Federal income tax credit which can be utilized with a lender’s first mortgage. The MCC reduces an eligible borrower’s Federal income taxes and, in effect, creating additional income for the borrower to use in making mortgage payments or other household expenses. Florida Housing’s Program offers a tax credit amount of up to 50%, based on the loan amount.
Contact one of our Florida Loan Officers to get started today!
Georgia Dream Homeownership
The Georgia Dream Homeownership program is available to eligible first-time homebuyers in certain Georgia Counties. One of the biggest hurdles to homeownership is coming up with the down payment. The Georgia Homeownership program provides $5,000 in assistance to eligible borrowers. If you are a public protector, educator, health care provider, active military, or if you are living with a family member that is disabled, there is a $7,500 down payment option.
There are some eligibility requirements:
- First-time homebuyer
- Meet maximum household income limits
- Meet minimum Credit requirements
- Live in certain geographic areas
- Attend a counseling session
Maryland Housing
The Maryland Mortgage Program is designed to make it easier for first-time Homebuyers to purchase a new home. Maryland Mortgage Programs are designed for a variety of buyers with different needs.
The programs include:
The 1st Time Advantage 5% DPA – First time homebuyers may be eligible for a Down Payment Assistance (DPA) loan equal to 5% of the first mortgage in a zero percent deferred second lien. In addition, 1st time advantage loan offers competitive interest rates for FTHB.
Flex – Similar to the 1st Time Advantage loan, Flex Includes down payment assistance in the form of a non-interest loan that must be repaid or a grant. This program is open to repeat buyers and has competitive 30-year fixed rates.
Home Ability – Down Payment Assistance for the disabled. A conventional loan product provides up to 95% LTV in a first lien and up to 25% (max $45,000) in a second lien to assist with down payment and closing costs.
HomeStart – 6% Down Payment Assistance Loan for borrowers at or below 50% of Area Media Income. The HomeStart loan comes with 0% interest and a 30-year deferred down payment loan equal to 6% of the Maryland Mortgage total loan amount (first lien).
Maryland SmartBuy 3.0 – This loan is for borrowers with at least $1,000 in student loan debt. The SmartBuy 3.0 program can help you get a mortgage and pay off that debt in one transaction. The amount you can apply to student loan debt payoff is up to 15 percent of the home’s purchase price with a cap of $50,000. This is a zero-interest forgivable loan after five years.
In addition to the requirements by program, all Maryland Mortgage Programs generally require that borrowers purchase a primary residence and not own another residence. The home is required to be within the Maryland purchase price limits, which vary depending on location. Income limits also require that the combined household income of all adults living on the property does not exceed Maryland Limits.
Credit Score minimums are as follows:
- Conventional loans-640-680 depending on DTI and LTV
- FHA Loans-640
- VA and USDA Loans-640
Maryland Mortgage Down Payment assistance loans offer credit-worthy borrowers an affordable home financing option. Additional eligibility requirements may exist, and a consultation with one of our Maryland licensed loan officers to discuss your eligibility is required.
MassHousing
MassHousing is a state and regional program that provides affordable mortgage options for the purchase of a 1-4 family home or condominium in Massachusetts.
Key features are:
- Affordable, fixed interest rates
- Flexible underwriting guidelines and income limits
- Loans are serviced by MassHousing
- Downpayment assistance
- Options with and without Mortgage Insurance
- Mortgage Payment Protection with MI plus (protection that helps you pay your mortgage if you lose your job!)
- Rehabilitation/Renovation loans available
Contact one of our Massachusetts Loan Officers to get started today!
New Hampshire Housing
New Hampshire Housing promotes, finances and supports affordable housing for Granite State residents. One of the goals of NH Housing is to offer safe, fixed-rate mortgages.
New Hampshire Housing offers homebuyer programs for New Hampshire residents with incomes up to $128,900.
Loan options include:
- Home Flex which provides up to 3% of the base loan amount to help with down payments
- Home Preferred which is a conventional mortgage with 3% down and reduced MI rates
- Rehabilitation Mortgage Programs if you are buying a fixer-upper, you can add up to a $35,000 to your purchase mortgage with as little as 3.5% down to assist with repairs and upgrades.
- Home-Start Homebuyer Tax Credit makes homeownership more affordable for first-time homebuyers. The homebuyer tax credit can decrease the federal income taxes you owe, thereby boosting your take-home pay, which may help you qualify for a mortgage. It is an annual credit for the life of the mortgage.
- Home Preferred No MI provides you with conventional mortgage financing terms and not MI (Mortgage Insurance) option. No MI with as little as 3% down, (97% LTV).
Contact one of our New Hampshire Loan Officers to get started today!
North Carolina Housing
North Carolina Housing’s mission is to create housing opportunities for North Carolinians. We are proud to partner with them on this mission.
North Carolina Home Advantage Mortgage offers down payment assistance to up to 5 percent of the loan amount that can help first-time and move-up buyers get into a new home. First-time homebuyers and military veterans may be eligible for other products as well.
- NC 1st Home advantage-offers $8,000 in down payment assistance.
- NC Home advantage tax credit-buyers may qualify for the NC Home Advantage Tax credit which can save them up to $2,000 a year on their federal tax liability with a Mortgage Credit Certificate.
Contact one of our Loan Officers to get started today!
RIHousing
RIHousing is a nimble and flexible agency focused on connecting Rhode Islanders with opportunities for homeownership and choices in housing.
We’re builders of a community of first-time homebuyers — and of partnerships that support evolving programs and products that provide a wide range of housing opportunities for individuals and families. We’re dismantlers of barriers that for too long prevented some people in our state from accessing homeownership.
Every day, we help Rhode Islanders — especially those who have historically not had access to equitable housing opportuni-ties — find, rent, buy, keep and build homes. We aim to transform communities through access and opportunity. We respect and seek diverse perspectives in developing products, programs, resources and services tailored specifically to meet the unique needs of our customers.
We value transparency and openness in sharing data, research and resources. We focus on building capacity to fuel the collective creation of more equitable, affordable housing opportunities in all Rhode Island communities. We value our municipal partners achievements in creating healthy cities and towns rich in quality education and housing choices for all. In all efforts, we remain committed to our core values of equity, innovation and opportunity.
Contact one of our Rhode Island Loan Officers to get started today!
South Carolina Housing
SC Housing’s Homebuyer Program can put you in a loan you can live with – one that’s affordable and consistent over the long term. This program assists low to moderate families and individuals by offering a competitive, fixed-rate mortgage loan. Down payment assistance and closing cost assistance may be available for qualified borrowers.
These loans offer:
- Low, fixed interest rates
- Down Payment Assistance – For many people considering a first home purchase, saving enough money for the down payment and other costs can be a challenge. At SC Housing, we understand this, and we are here to help you meet this challenge with a variety of down payment assistance programs.
Contact one of our South Carolina Loan Officers to get started today!
