Down Payment Assistance Program

Explore your mortgage options. Find the right options based on loan terms, down payment and other circumstances.

JustRate

30-year fixed rate mortgage Rate subject to change. FHA, VA, Rural Development, & Fannie Mae or Freddie Mac loans are insured.
Receive a lower rate than any other Mortgage Revenue Bond (MRB) Programs
You’re eligible if you are a first-time homebuyer or someone who has not owned a home for the last three years Eligibility: first-time homebuyers, or persons who have not owned a principal interest in a residence in the past 3 years; certain areas of the state, called “Target Areas” and Veterans are exempt from the “first-time homebuyer” rule; households who are within the income guidelines for the county in which they purchase a home; credit qualify with a participating lender; property must be owner-occupied and principal residence; homebuyer education required.

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Smart7

Get $7,000 to help buy a home for down payment and closing costs. The $7,000 must be repaid if you sell, refinance, move out, or reach the end of the loan term.
Choose a 30-year fixed mortgage with a steady monthly payment. Interest rates can change and depend on the market when you apply.
Not just for first-time buyers and no limits on savings. Loan approval still depends on credit and lender guidelines. Must be a legal resident of the United States. Homebuyer education is required.
Use the funds where needed most — down payment, closing costs, or prepaid items. Income limits (household annual income cannot exceed $132,770), home price limits (purchase price cannot exceed $398,310), and primary residence rules apply.

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Easy8

Available for a 30-year fixed-rate mortgage The rate is subject to change. FHA, VA, Rural Development, and Fannie Mae or Freddie Mac loans are insured.
$8,000 with 0% interest on a 2nd mortgage Due-on-sale payable to MHC at refinance, non-owner occupied, or 1st mortgage paid in full.
You’re eligible if you are a first-time homebuyer or someone who has not owned a home for the last three years Eligibility: Frist-time homebuyers, or persons who have not owned a principal interest in a residence in the past three years; certain areas of the state, called “Target Areas” and Veterans are exempt from the “first-time homebuyer” rule; households who are within the income guidelines for the county in which they purchase a home; credit qualify with a participating lender; property must be owner-occupied & principal residence; homebuyer education required.

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Trusty10

Available for a 30-year fixed-rate mortgage The rate is subject to change. FHA, VA, Rural Development, and Fannie Mae or Freddie Mac loans are insured.
$10,000 down payment on a 2nd mortgage 2nd Mortgage has a 2% interest rate; a 15-year loan; can be used towards a down payment, closing costs, or pre-paids.
You’re eligible if you are a first-time homebuyer or someone who has not owned a home for the last three years Eligibility: Frist-time homebuyers, or persons who have not owned a principal interest in a residence in the past three years; certain areas of the state, called “Target Areas” and Veterans are exempt from the “first-time homebuyer” rule; households who are within the income guidelines for the county in which they purchase a home; credit qualify with a participating lender; property must be owner-occupied & principal residence; homebuyer education required.

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Mortgage Credit Certificate

Reduce the amount of federal income tax on your mortgage loan
Free up income to qualify for a mortgage
May be combined or used as a stand-alone product It may be combined with MHC’s Smart6 program at a 30-year fixed rate or used as a stand-alone product with a 15, 20, 25, or 30-year term.
First-time homebuyers or previous homebuyers are eligible Eligibility: First-time homebuyers or persons who have not owned a principal interest in a residence in the past three years are eligible. Certain areas of the state called “Target Areas” are exempt from the “first-time homebuyer” rule, and household members’ maximum annual income may not exceed certain income limits.
Specific program requirements for buyer eligibility Program Requirements: Property must be owner-occupied; property must be primary residence; must be a single-family residence; the manufactured home must be HUD-approved; borrower must own or purchase land on which the manufactured home will be sited; cost of the home must be within maximum acquisition cost limits for the county in which property is located; borrower must have available the following: $300 non-refundable reservation fee to participate in the program Sales contract including a legal description of the property Federal Income Tax returns for the past three years and any other documents required by the lender Homebuyer education certificate showing completion of classroom or online course

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