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Homeownership Programs

  • Does HUD Owe You A Refund?

    Homeowners with an FHA mortgage may be eligible for a refund from HUD. The mission of HUD's Office of Financial Services - Single Family Insurance Operations Division (SFIOD) is to pay eligible homeowner refunds or distributive share payments. HUD will make every effort to ensure payment owed to homeowners is done in a cost-effective and timely manner.  Click to HERE to learn more

  • First Step

    First Step

    • First time homebuyer*
    • Down Payment Assistance  (DPA) of 6%
    • 30 Year Fixed-Rate mortgage
    • FHA or Conventional
    • Non-Forgivable DPA
    • $250 Reservation Fee

    *Must be first time homebuyer or purchase in targeted census tract

    Click here to access the First Step Conventional Program Guide
    Click here to access the First Step FHA Program Guide

  • Step Down

    Step Down

    Rate Only Purchase Option

    • First time homebuyer*
    • 30 Year Fixed-Rate mortgage
    • FHA or Conventional
    • $250 Reservation Fee

    *Must be first time homebuyer or purchase in targeted census tract

    Click here to access the Step Down Conventional Program Guide
    Click here to access the Step Down FHA Program Guide

  • Next Home

    Next Home

    • Down Payment Assistance (DPA) of 2.50% or 3.50%

      • Based on the purchase price

      • Not to exceed the appraised value

    • FHA or Conventional 30-year fixed-rate loan

    • Minimum FICO credit score of 640 with a debt-to-income ratio of less than 45%

      • Credit score requirements vary based on financing and property type
    • Minimum FICO credit score of 680 with debt-to-income ratio greater than 45%, but less than 50%

      • Credit score requirements vary based on financing and property type

      Click here to access the Next Home FHA Program Guide
      Click here to access the Next Home Conventional (Mae & Mac) Program Guide

  • Next Step

    Next Step

    Refinance Program

    • One-time refinance opportunity for IHCDA First Place and First Step mortgages
    • 30 Year Fixed-Rate mortgage
    • FHA or Conventional
    • Non-Forgivable DPA
    • $250 Reservation Fee

    Click here to access the Next Step Conventional Program Guide
    Click here to access the Next Step FHA Program Guide

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