The federal government just released their latest news on this program. Below are some of the facts and requirements but for client specific details please call or email me if you have any questions:
*Program starts on September 2nd
*You need to have the minimum down payment to be eligible. You can then apply for a 5% or 10% assistance. 5% for existing homes and
10% for new construction.
*Your maximum household income is no more than $120,000.
*your total borrowing is limited to 4 times the qualifying income.
*The Incentive is not interest bearing and does not require ongoing repayments.
* first closing will be on November 1st.
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