Down Payment Assitance Programs (DPAs)
Programs that can help assitst with down payment and closing costs.
Idaho
IHFA (Idaho Housing & Finance Association)
Program Highlights:
Amount of funds up to 8% of the purchase price (or appraised value, whichever is lower)
Minimum $500 contribution from borrower
Funds come as a Second mortgage
(Rate is typically 2% higher than the first mortgage. Term is 15 year fixed loan)
No First-Time Home buyer requirement
Idaho Hero Benefit:
For Teachers, Nurses, & First Responders (Firefighters, Police, Paramedics, EMT's)
Waived $500 minimum contribution
Waived 2% interest rate add on
Requirements:
Complete a homebuyers course with Finally Home!
Must Qualify for the first mortgage
Not to exceed the maximum LTV / CLTV
Eligible borrowers' maximum income is $170,000 for all counties with some exceptions on specialized loans.
Utah
Program Highlights:
Texas
TSAHC (Texas State Affordable Housing Corporation)
Program Highlights:
Down payment assistance (grants or forgivable 2nd lien)
Competitve, fixed interest rates
low fees, flexible options
Homes for Texas Heros:
Designed for Teachers, Police & Correctional Officers, Firefighters & EMS, Veterans.
Home Sweet Texas:
For Texas homebuyers with low-to-moderate incomes.
Must Purchase a primary residence.
Requirements:
Credit scores as low as 620
Income limits vary by county
complete a homebuyer education course
Shad Whaley NMLS# 1999864
My Style Mortgage Inc.; NMLS #2622728; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in Idaho, Texas and Utah. For additional information please visit https://www.mystylemortgage.com/privacy-policy. Lending services provided by My Style Mortgage Inc. 115 N. Clark St. Rigby, ID 83442