If you are needing assistance with the down payment, the MHDC home loans would be a solution. They offer a MHDC First Place for first time homebuyers and MHDC Next Step for individuals who have already owned a home previously.
Loan Information:
- Depending on your base loan program, a down payment may be required.
- Maximum sales price varies according to the area the property is located.
- Gifts Allowed
- Cash assistance of 4% of loan amount. (ask your mortgage loan originator for more details.)
- The seller concession is limited up to 3-6% of the sales price.
- Minimum credit score is 640.
- There is a large amount of documentation required on these type of loans that needs to be taken into consideration when choosing these loan types.
*Interest rates and products are subject to change without notice and may or may not be available at the time of commitment or lock-in.