State bond programs - Northpointe.com

Low down payment and grant programs

Low down payment and grant options for first-time and repeat home buyers.

Available programs

Alabama

Alabama Housing

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Colorado

El Paso County Housing Authority Turnkey Program

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Colorado Housing Finance Authority (CHFA)

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Delaware

Delaware State Housing Authority

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Florida

Florida Housing Finance Commission

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Housing Finance Authority of Lee County

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Florida Hometown Heroes

Qualified borrowers can receive 5% of the loan amount, up to $25,000, towards down payment and closing costs

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Georgia

Georgia Dream

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Indiana

Indiana Housing

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Kentucky

Kentucky Housing

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Kentucky Housing Mortgage Revenue Bond (MRB)

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Michigan

Michigan State Housing Development Authority (MSHDA)

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Nevada

Nevada Housing Division (NHD)

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Nevada Rural Housing

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North Carolina

North Carolina Housing Finance Agency Program

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Ohio

Ohio Housing Finance Agency

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Pennsylvania

Pennsylvania Housing

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Rhode Island

Rhode Island Housing

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South Carolina

South Carolina Housing

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Tennessee

Tennessee Housing Development Agency

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Texas

Texas Department of Housing & Community Affairs

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Southeast Texas Housing Finance Corporation (SETH)

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Texas Veteran Loan Board

Home financing for Texas veterans, military members and their families.

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Utah

Utah Housing Corporation

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Washington

Washington State Housing Finance Commission

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Alabama housing

Alabama Housing Finance Authority (AHFA) mortgage programs provide lenders innovative financial solutions for potential low- to moderate-income homebuyers. The program offers low interest rates and down payment assistance as well as a MCC program giving homebuyers another savings option. Qualifying criteria is flexible given AHFA’s generous income and sales price limits

Program features

Available for new or existing properties purchased in Alabama
Maximum down payment assistance is the lesser of $7,500 or 3% of the sales price*
100% financing options
Minimum credit score of 640 required
Income limitations apply

*Down payment assistance secured by a 10 year second mortgage and combined with a 30 year fixed rate first mortgage. Eligible borrowers must complete a home-buyer education course. All loans are subject to credit review and approval. This is not a commitment to lend.

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El Paso County Housing Authority Turnkey Program

Provides a competitive fixed-rate home loan with down payment assistance equal to 4% of the loan amount to qualifying low and moderate income homebuyer families throughout El Paso County, including the City of Colorado Springs.

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Colorado Housing Finance Authority (CHFA)

One of the biggest challenges facing first-time homebuyers is having enough money for closing. Northpointe Bank offers several programs that can help. In partnership with the Colorado Housing and Finance Authority, Northpointe Bank offers qualified borrowers up to 4% of the home loan for use towards the down payment and closing costs. Buying a home may be more affordable than you think.

Program features

Eligible for new or existing properties purchased anywhere in Colorado
DPA Grant offers up to 3% of the home loan for use towards down payment and closing costs*
Second Mortgage Loan offers up to 4% of the home loan for use towards down payment and cosing costs**
Homebuyer education course is required
Minimum $1,000 borrower contribution
Income limitations apply
Minimum credit score of 620

*DPA Grant: no repayment required. ** Second Mortgage Loan: balance deferred until payoff, sale, or refinance of the home. Loans are 30-year fixed-rate home loans. This is not a commitment to lend. All loans subject to credit review and approval.

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Delaware State Housing Authority

The Delaware State Housing Authority (DSHA) offers affordable homeownership programs with goal to promote economic development across the state of Delaware. Program includes down payment assistance up to 5% of the loan amount in the form of a second mortgage with a deferred repayment for 30 years at 0% interest.

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Georgia Dream

One of the biggest challenges facing first-time homebuyers is having enough money for closing. Northpointe Bank offers several programs that can help. In partnership with the Georgia Dream Homeownership Program, qualified borrowers receive a competitive fixed-rate home loan with up to $7,500 towards down payment and closing costs*. Buying a home may be more affordable than you think.

Program features

Eligible for new or existing properties purchased anywhere in Georgia
Up to $7,500 in down payment and closing cost assistance
Eligible borrowers must not have owned a home in the past three years or must purchase a home in a targeted area
Homebuyer education course is required
Minimum $1,000 borrower contribution
Income limitations apply

*Loans are 30-year fixed-rate home loans. This is not a commitment to lend. All loans subject to credit review and approval.

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Indiana Housing

Indiana Housing & Community Development (IHCD) offers several programs to assist both first-time and repeat homebuyers.

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Kentucky Housing

Northpointe Bank offers a program for buyers that are looking to purchase a home in Kentucky. Partnering with the Kentucky Housing Corporation, down payment assistance and a variety of loan programs are available for qualified homebuyers.

Regular down payment assistance program

Max loan amount up to $6,000
5.5% interest rate; payable over 10 years*

AFFORDABLE DOWN PAYMENT ASSISTANCE PROGRAM

Max loan amount up to $6,000
1% interest rate; payable over 10 years**
Borrower must meet affordable down payment assistance program income limits

Features for all options:

Primary residence only
Minimum credit score of 620 for FHA, VA and Rural Development
Minimum credit score of 660 for conventional financing
Max debt-to-income ratio of 50%
Purchase price limit up to $327,334
Income limits apply

*Regular DAP has an interest rate of 5.500% and 5.682% APR, requires 120 monthly principal and interest payments of $65.12 with 0.00 points. **Affordable DAP has an interest rate of 1.000% and 1.168% APR, requires 120 monthly principal and interest payments of $52.56 with 0.00 points. Annual Percentage Rate (APR) and example payments are based on an owner-occupied single family residence with a credit score of 740. APR rates may very depending on individual credit history and transaction. Interest rates as of April 23, 2021 and subject to change without notice. APR is for illustrative purposes only and your interest rate may vary. This is not a commitment to lend. All loans are subject to credit review and approval.

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MassHousing First Time Home Buyer

The MassHousing First-Time Homebuyer Program offers Conventional and FHA financing for firsttime homebuyers combined with a second mortgage for down payment and closing cost assistance who qualify with the program’s income and purchase price limits.

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Michigan State Housing Development Authority (MSHDA)

With the MI Home Loan program, in partnership with MSHDA, buyers may be eligible for down payment assistance of up to $10,000 on Conventional, FHA and Rural Development loans. Just another way Northpointe is bringing you home.

Program features:

Up to $10,000 in down payment assistance**
Available for primary residence of first-time and repeat homebuyers in select locations
Eligible properties may include new or existing homes, manufactured homes and condominiums
Liquid asset restriction of $20,000
Minimum 1% borrower contribution
Income limits apply

*$10,000 in down payment and closing cost assistance in the form of a 0% interest loan due upon sale, refinance or transfer of property. This is not a commitment to lend. All loans subject to credit review and approval.

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North Carolina Housing Finance Agency Program

The North Carolina Housing Finance Agency works with participating lenders throughout North Carolina to provide affordable home loan options for first-time and move-up buyers. NC Home Advantage mortgage offers down payment assistance up to 5% of the loan amount and offers a $15,000 special down payment assistance program.

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Pennsylvania Housing

Pennsylvania Housing Finance Agency (PHFA) works to provide affordable homeownership options for low and moderate income families. Through its programs, PHFA promotes economic development across the state of Pennsylvania. Down payment assistance programs are available in the form of a second mortgage up to $6,000 for Keystone Advantage and up to $10,000 for K-FIT. The second mortgage programs feature a 0% interest rate and are repayable over a 10 year term.

Program features:

Up to $10,000 in down payment and closing cost assistance**
Eligible for new or existing primary properties purchased anywhere in Pennsylvania
Borrowers must contribute up to $1,000 or 1% of the loan amount when using FHA financing or conventional financing with loan to value ratios that exceed 80%
Maximum debt-to-income ratio is 45% for Pennsylvania Keystone Government programs and Pennsylvania Keystone Home Loans using FHA, VA or RD financing
PHFA grant available up to $500
Minimum credit score 620
Down payment assistance is available to borrowers with a minimum credit score of 660
Homebuyer education course is required
Income limitations apply

*Keystone Forgivable in Ten Years Loan Program. **Down payment assistance available in the form of a 0% interest second mortgage repayable over a 10 year term. This is not a commitment to lend. All home loans are subject to credit review and approval.

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Rhode Island Housing

Rhode Island Housing provides a variety of first mortgages to any borrower that meets their credit standards. Rhode Island Housing also provides down payment and closing cost assistance with their Extra Assistance and First Down programs. Extra Assistance is available to first-time homebuyers or purchasers in a targeted area.

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South Carolina Housing

SC Housing offers competitive mortgage loans and down payment assistance (DPA) to help families and individuals become homeowners. SC Housing offers competitive, fixed rate mortgage loans combined with money to help cover down payment and closing costs.

Program features:

Eligible to use when purchasing a single family home, a townhome, and select condominiums located in South Carolina
Up to $6,000 in down payment and closing cost assistance
Qualified borrowers must not have owned a home in the past three years or not own a home at the time of home purchase in a targeted area
Homebuyer education course is required
Minimum $1000 borrower contribution
Income limitations apply

*$6,000 in down payment and closing cost assistance in the form of a 10- year or 20- year 0% loan and based on availability. Eligible borrowers must occupy the property for the 10- or 20- year term for the down payment assistance loan to be forgiven. This is not a commitment to lend. All loans subject to credit review and approval.

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Tennessee Housing Development Agency

The Tennessee Housing Development Agency (THDA) Great Choice, Great Choice Plus DPA and Veterans Homeownership for the Brave offers low interest rate loans secured by a first mortgage with the option of down payment and closing cost assistance at an interest rate that is the same as the first mortgage rate amortized over 15 years, secured by a second deed of trust.

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Southeast Texas Housing Finance Corporation

The SETH 5 Star program provides eligible homebuyers with down payment and closing cost assistance when purchasing a home. There are several options of assistance available. For conventional loans, the maximum amount of assistance provided is a 4% grant. For government loans, assistance is provided in the form of a forgivable 2nd mortgage up to 5% of the total loan amount.

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Texas State Affordable Housing Corporation

The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit organization that was created to serve as a self-sustaining, statewide affordable housing provider. Programs target the housing needs of low-income families and other underserved populations who do not have acceptable housing options through conventional financial channels. Down Payment Assistance is in the form of a grant and does not need to be repaid. Borrower is not required to be a first-time buyer.

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Texas Department of Housing & Community Affairs

The Texas Department of Housing & Community Affairs (TDHCA) My First Home and My Choice programs offers to competitive interest rates, down payment and closing cost assistance and a Mortgage Credit Certificate (MCC). Down payment assistance is in the form a second lien that does not require monthly payment, features a zero interest rate and is required to be repaid upon sale, refinance or if the borrower ceases to occupy the property.

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Texas Veteran Loan Board

Eligible Texas Veterans have an opportunity to purchase a home with a competitive, low-interest loan with little or no down-payment. Veterans, military members and their spouses may receive up to $484,350 on a fixed-rate loan for 15, 20, 25 or 30 year terms. Veterans with a VA service-connected disability rating of 30% or greater qualify for a discounted interest rate.

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Utah Housing

Utah Housing Corporation provides first mortgages and down payment assistance to qualified first-time and repeat homebuyers. Down payment assistance is provided in the form of a repayable 2nd mortgage. Second loan rate is 2% above the rate of the first mortgage.

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Washington State Housing Finance Commission

Washington State Housing Finance Commission is dedicated to increasing housing access and affordability for the people of Washington. The down payment assistance programs are designed for low and moderate-income households and is available to first time and repeat homebuyers.

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All loans are subject to credit review and approval. This is not a commitment to lend.

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