DOWN PAYMENT PROGRAMS

CHFA:

  • Smartstep: 

    • 30-year fixed

    • FHA/VA/USDA

    • 620 minimum credit score

    • Income limits do apply

    • Co-signors or non-occupant co-borrowers not allowed

    • Plus Grant

      • 3% towards the down payment

      • Do not have to pay it back​

    • Plus 2nd 0% interest

      • 4% towards the down payment and closing costs​

  • Preferred:

    • 30-year fixed

    • Conventional

    • 620 minimum credit score

    • Income limits do apply

    • Plus 2nd 0% interest

      • 4% towards the down payment and closing costs

    • 97% LTV

    • Co-signors or non-occupant co-borrowers not allowed

CHAC:

  • No ownership interest in another property within the last three years

  • Primary residence only

  • Full disclosure of all sources of income for all persons over 18 intending to occupy the home

  • Provide at least $1,000 to the purchase transaction

  • Property must NOT have been tenant occupied unless the tenant is the buyer

  • INCREASED INCOME LIMITS

MetroDPA:

  • Government and Conventional

  • 30-year fixed rate loans

  • Up to 6% assistance as 3-year forgivable 2nd lien

  • Primary residence

  • Purchase only

  • No first-time homebuyer requirement

  • No purchase price limits

  • Helps borrowers with income up to $150,000