Federal Down Payment Assistance has returned and is now available to credit and income eligible persons who have not owned a home in the previous three years. The assistance is offered as a four-to-one match, allowing funds contributed toward the transaction by the buyer (minimum $1,000) to be matched with up to $5,000 in an interest and monthly payment free loan that is forgiven over a five year period as long as the property remains owner occupied. Eligible borrowers may buy new or existing single family homes, town homes even foreclosures with significantly reduced out of pocket expenses.
These funds are depleted annually, so please review the flyer for more information. If you are not working with a real estate agent, please call today to determine eligibility.
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