Changes to Home in 5

By
Mortgage and Lending with Academy Mortgage Corporation NMLS #229617

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!

Comments (2)

Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Very cool!  Thanks for the post, was not aware of these changes.  Glad to see First Responders are getting special treatment.

Dec 16, 2015 01:51 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY
Certified Mobile Notary Signing Agent - Smith Mountain Lake, VA
Highest Ranked Certified Mobile Notary in Virginia

This is why buyers should ALWAYS  use a LOCAL lender.   There are often special programs like this one from Steve Alonso 

Dec 19, 2015 10:44 PM