** Program Discontinued by FHFA ** Are you a relocating First Time Home Buyer?

Written By Stephen Wingerter

Updated 1-31-2025

If you live in a designated Metropolitan Statistical Area (MSA) you may qualify for a Special Purpose Credit Program that provides up to $6,000 in down payment/closing cost assistance.

Benefits

  • Loans where the AMI ≤ 100% will receive $6,000.

  • Loans where the AMI > 100% (up to the max 140%) will receive $3,000.

  • $500 credit towards cost of appraisal

  • $500 credit towards the cost of a home warranty (if purchasing one).

  • 3% Down Payment

Eligibility

Current verifiable residence must be in designated MSA

  • Current verifiable residence must be in designated MSA

  • At least one borrower must be a first time home buyer

  • 3% Down Payment - HomeReady First Program

  • Must use Home Ready Loan Program (Fannie Mae)

MSA - City Listings

Contact us to do a specific address search.

stevew@7lockslending.com

Stephen Wingerter https://www.7lockslending.com
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