You have been working hard on getting your credit score up, you have been saving for the down payment and you are almost ready to be pre-qualified for a mortgage to buy a house and you vaguely remember that somewhere you heard about some Government help for first time home buyers.
You start your research and it gets complicated quick, so you are tempted to drop the ball and move on, however you found ME and this very informative blog to get you a bit more digested info about the down payment assistance program.
- Programs vary by State and County
- Your lender needs to be part of the authorized DPA lenders
- Income limits apply and this changes by County as well
- FHA and Conventional loans can benefit from the DPA
- Your credit score needs to be +640 to qualify
- You can use the funds for the down payment and closing costs
- The property itself needs to meet a minimum criteria
- You will have to take a course about how the DPA works
If you are looking for a Mortgage Loan Officer who can assist you with a mortgage and the down payment assistance program, give me a call, I will be happy to recommend you a true professional.
Clarisa Moody – 813 446 2003
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