The 2% grant of your purchase price is COMPLETELY FORGIVEABLE and NO MONTHLY PAYMENTS ARE REQUIRED.
Seller concessions are allowed up to 6% of the purchase price and can be applied to all borrower paid closing costs.
The grant will provide eligible borrowers 2% of their 3.5% down payment required on an FHA loan. The remaining 1.5% must come from the borrower.
Minimum 580 Qualifying Credit Score.
You must meet ONLY ONE of the following borrower eligibility requirements:
- First time homebuyer,
- County level income restriction, or
- Current or retired employee, volunteer, or non-paid staff member of the following organizations:
- First responder (police, firefighter, public safety officer, paramedic, EMT, or similar)
- Educator (Sunday school teacher, tutor, day care provider)
- Medical personnel (doctor, nurse, hospital worker, or similar)
- Civil servant in a federal, state, or local municipality
- Military personnel
One borrower must complete homeownership counseling course.