The HomeOwnership Center doesn’t provide first mortgages. However, we can guide you to special mortgages for homebuyers.
Community Outreach Lending – Mortgage Program
Homebuyers that purchase a home in a qualified neighborhood may be eligible to obtain a mortgage loan with the following features:
The loan must be used to buy the homebuyer’s primary residence.
Up to $5,000 from the lender. This is a grant and no repayment is required.
ZERO closing costs charged to the borrower. Costs will be paid by the lender under this program.
Interest rates at or below current market rates with no cost to the homeowner to obtain or buy down the offered rate.
If you decide or are required to escrow for taxes and insurance, the lender may also make the initial deposit into your escrow account that will be used to pay your taxes and insurance. The initial escrow deposit made by the lender is a gift that you do not have to pay back.
Home Possible Mortgage
Homebuyers that purchase a home in a qualified neighborhood or with an income under $31,799 may be eligible to obtain a mortgage that has the following features:
The purchased home must be the homebuyer’s primary residence.
A down payment assistance grant of up to 3% up to $3,600.
No repayment of the grant is required.
Would you like to learn more about these special mortgages for homebuyers?
We are here to answer your questions about any of these programs. Fill out the following form. It’s that easy.
