3.5% DOWN PAYMENT REQUIRED
Up to $7,500 Grant
First time home buyer
GET PRE-APPROVED TODAY!
HomeReady First is for first-time buyers
Up to $7,500 in down payment or closing cost assistance
$500 credit for home warranty
$500 credit for appraisal reimbursement
No income limits or restrictions
Minimum down payment 3%
Fico score 680+
Available across the US in select markets.
No location restrictions on where you purchase first home.
Guidelines are subject to change. Please call for updates on current requirements. Borrower must qualify to be eligible. Amount subject to change. After May 1st 2024 maximum grant amount will be up to $7,500.
Special Purpose Credit Program (SPCP)
Every year, over one million people become homeowners for the first time, including many who never thought they’d own a home. Take the first step to homeownership and build a legacy that can last for generations.
This Special Purpose Credit Program (SPCP) is designed to provide down payment and closing cost assistance to support sustainable homeownership to individuals residing in select metropolitan statistical areas (MSA's). The SPCP applies to eligible census tracts.
Borrower must currently live in an eligible census tract and be a first time homebuyer to be eligible for HomeReady First and the up to $10,000 down payment assistance grant. There are no restrictions on where you purchase your first home.
Enter address to see if you are eligible.
AMI and HomeReady First eligibility can be found under FNMA’s lookup tool: https://ami-lookup-tool.fanniemae.com
Available to homebuyers residing in select metropolitan areas (MSA)
CALIFORNIA
• Riverside-San Bernardino-Ontario
FLORIDA
• Miami-Fort Lauderdale-Pompano Beach
• Orlando-Kissimmee-Sanford,
• Tampa-St. Petersburg-Clearwater
TEXAS
• Brownsville-Harlingen
• Dallas-Fort Worth-Arlington
• Houston-The Woodlands-Sugar Land
• McAllen-Edinburg-Mission
• San Antonio-New Braunfels
**Note: Not all census tracts within the above MSA’s are eligible. Eligibility of the particular census tract in which the borrower currently resides is strictly confirmed by DU.
CONTACT US NOW!
For a free consultation reach out to me today!
Jorge Salcedo
NMLS 1865744
DRE 01743873
Fast Action Mortgage, Inc. NMLS 1828474,
1851 E. 1st St. Suite 760, Santa Ana, CA 92705
Loan Factory, Inc. NMLS 320841
2195 Tully Road, San Jose, CA 95122
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