Down Payment Assistance Programs
LIPA
First-time homebuyers who have not had an ownership interest in any real property at any time during the last three years
U.S. Citizens, lawful permanent residents, or other qualified aliens.
Homebuyers must have a middle FICO score of at least 660.
Applicants whose total household income of all of the adults, 18 years of age or older who will be living in the home, is at or below the income limits.
HOP
- The applicants must be income eligible.
- The applicants must be first-time homebuyers: no ownership interest in real estate at any time in the past three years.
- Homebuyers must occupy the home as their principal residence.
- The loan is secured by a second Trust Deed and Promissory Note.
- Applicants must invest a minimum of 1% of the down payment, not including closing costs, of their own funds. Applicants' total contribution into escrow, including initial deposit, gift funds, and closing funds, cannot exceed $150,000 for HOP80 and $200,000 for HOP120.
- All applicants must complete an eight-hour homebuyer education seminar from an approved U.S. Department of Housing and Urban Development (HUD) counseling agency.
- Property cannot be occupied by tenants, unless it is a Tenant-Purchaser.
For more information about down payment assistance program(s) and to see if you are Eligible please complete the questions below and someone from our team will be reaching out to you.
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