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 Place (FP)

• Down Payment Assistance (DPA) of 6.0%

  • Based on the purchase price

  • Not to exceed the appraised value

• Must be a first-time homebuyer, unless:

  • The subject property is located in a qualified census tract or targeted areas

• FHA or Conventional 30-year fixed-rate loan

• Minimum FICO credit score of 640 with a DTI of less than 45.00%

  • Credit score requirements vary based on financing and property type

• Minimum FICO credit score of 680 with DTI greater than 45.00%, but less than 50.00%

  • Credit score requirements vary based on financing and property type

  For detailed information, click here: First Place FHA (FP FHA) Program Guide - updated June 22, 2022
  For detailed information, click here: First Place Fannie and Freddie (FP Mae & Mac) Program Guide - Updated August 16, 2023

Next Home (NH)

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

  • Based on the purchase price

  • Not to exceed the appraised value

• Can be combined with the Mortgage Credit Certificate (MCC)

• 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

  For detailed information, click here: Next Home Program Guide - updated January 11, 2023
  For detailed information, click here: Next Home Conventional (NH Mae & Mac) Program Guide - updated August 16, 2023

Mortgage Credit Certificate (MCC)

• Is a Federal income tax credit, and can assist the borrower in:

  • Reducing their federal income tax liability

  • Increasing their qualifying income

• Must be a first-time homebuyer, unless:

  • The subject property is located in a qualified census tract or targeted area

  • The borrower is a qualified veteran

• Can be combined with the Next Home Program

• Can be used with Ginnie, Fannie, or Freddie financing

  For detailed information, click here: MCC Program Guide - updated December 16, 2020