This is a down payment or closing cost assistance program for eligible veterans. It is a grant for up to 3% of sales price. The foundation will match three to one dollars on a down payment. The maximum grant is $5,000. Income restrictions applicable. This grant is ideal for down payment assistance when a minimum down is required.
[table]
| Property type: | SFR, Condo, PUD |
| Occupancy: | Primary residence |
| Down Payment: | 3% required to obtain grant funds – 3% buyer contribution |
| Loan to Value: | 97% CLTV: 97% |
| Income Limit | Income Limits Apply |
[/table]
Additional Notes:
- Military, Department of Defense, or Homeland security personnel
- Combined with Veteran Administration first mortgage
- First time buyer or no home ownership in last 3 yrs. or have lost through divorce
- It is a grant. No repayment will be required.
- Must complete a Homebuyer Education
- Family size increases maximum loan amount
- Grant funds are wired directly to escrow account
- Maximum financing is 97% of value
- Funds are wired to borrower’s escrow account
- Can be combined with standard financing
This page contains program highlights only. See sidebar links for further information and details.
All program are subject to change at anytime without any further notice