Thinking of Buying a Home?

If you are considering becoming a home owner, you need to investigate all of the financing options that are available. Some loan programs are specifically designed for low income home buyers. Here are a few options to investigate:

Fannie Mae HomeReady®—This program features a conventional mortgage loan with a down payment of 3% of the purchase price and flexible underwriting standards.

Freddie Mac Home Possible®—Offers very low-to-moderate-income borrowers a down payment requirement as little as 3%. The down payment can come from a variety of sources, including family, employer-assistance programs, secondary financing and sweat equity.

FHLB Down Payment Plus Program—This Federal Home Loan Bank program offers assistance up to $6,000 in the form of a forgivable down payment and closing cost grant for low and moderate-income applicants.