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Programs

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/targeted areas
  • FHA, 30-year fixed loan
  • Minimum FICO credit score of 640 with a DTI of less than 45.00%
  • Minimum FICO credit score of 680 with DTI greater than 45.00%, but less than 50.00%

For detailed information, click here: First Place FHA (FP FHA) Program Guideupdated August 12, 2021
For detailed information, click here: First Place Fannie and Freddie (FP Mae & Mac) Program Guide

Next Home (NH)

  • Down Payment Assistance (DPA) of 3.50%
    • Based on the purchase price
    • Not to exceed the appraised value
  • Can be combined with the Mortgage Credit Certificate (MCC)
  • FHA 30-year fixed loan
  • Minimum FICO credit score of 640 with a debt-to-income ratio of less than 45%
  • Minimum FICO credit score of 680 with a debt-to-income ratio greater than 45%, but less than 50%

For detailed information, click here: Next Home FHA (NH FHA) Program Guideupdated August 12, 2021
For detailed information, click here: Next Home Conventional (NH Mae & Mac) Program Guide

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/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