First-Time Home Buyers can use these 2 loans together:
- HOME START (30 Year Fixed Rate Loan)
- 5.25% Interest Rate, minimum 640 credit (9/8/09).
- Purchaser required to contribute 1% of the purchase price; towards closing costs or down payment (minimum $1,000)
- Income limitations & purchase limitations based on county <-click to view
- Qualifing Property Types: Single Family & Condos/Townhomes;must serve as borrower’s Primary Residence within 60 days of close,for the life of the loan
HOME START Tax Credit Advance Loan
- Take advantage of the $8,000 federal tax credit refund in advance to use as a down payment (advance = 3.5% of purchase price; max $6,000)
- How does one qualify for the $8,000 tax credit? <-click to view
