There have been some significant changes to the down payment assistance program. The Home In 5 down payment assistance program helps buyers get a government grant towards the down payment for FHA, VA and USDA loans. The following changes went into affect as of December 1st, 2015.
Please contact us for further clarification. www.academymortgagemesa.com
|OLD GUIDELINES||NEW GUIDELINES|
|4% Grant towards down payment||4% grand remains the same depending on FICO score|
|640 FICO score||660 FICO Score (640-659 scores will be eligible for 3% grant)|
|Special incentives for military personnel proved a 5% grant||Special incentives extended to include military personnel, first responders, and teachers!|