12 First Time Buyer Programs - #4: American Dream Downpayment Initiative

12 First-Time Buyer Programs – #4: American Dream Downpayment Initiative

Buying a home is not just about finding your dream home.  After all, if you don’t have financing, you can’t get that house!   Our goal is to help you not only find that dream home but to purchase that home once you find it.  Here are 12 Special Financing Programs for First-Time Buyers.

#4 – American Dream Downpayment Initiative

American Dream Downpayment Initiative is a program created by HUD to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.

Home purchasers may qualify for up to $10,000 under the HUD guidelines, but funding is limited so the grant amounts are much lower in participating jurisdictions.

ADDI funds may be used for downpayment, closing costs and, if necessary, rehabilitation in conjunction with home purchase.

For more information about the American Dream Downpayment Initiative and other Financing Programs for First-Time Buyers, visit our website.

As always, let us know how we can help you achieve your home buying goals!

Emcee Arah
RE/MAX Excellence Realtor with Architectural Dimension
Serving all your Real Estate needs in MD, VA & Wash., DC