With the $8,000 tax credit expiring at the end of April, I bet you are wondering what other options home buyers may have to help purchase homes? The best option currently is the Federal Home Loan Bank (FHLB) matching grant. It is a 5:1 match. In other words, if the borrower contributes a $1,000, they might be eligible for $5,000 in down payment cash that can be used for closing costs as well. The matching grant will match your contribution up to $7,500. I have access to this grant in all Georgia counties as well as the following states: AL, SC, FL, NC. A short list of borrower requirements are below:
- Credit Scores: 640 or higher
- Income: Must be at or below 80% of the HUD median income limits. I can provide a copy of your county upon request.
- First Time Homebuyers Only
If you are a Realtor and have clients who may qualify for this program, or a home buyer looking for down payment assistance, please call or e-mail me for more information.
"When Service Matters"
Steve Shockley
Mortgage Banker
Cell: 770-778-7497
E-Mail: sshockley@brandmortgage.com
Comments(0)