Metro Brokers Financial now offers 3 different Down payment assistance programs to help homebuyers get into their new home.  

Conventional 1% down payment:

This loan offers a grant of 2% up to $4,000 for 1^st time homebuyers earning less than $82,320 a year (Metro Atlanta, income limit varies outside of this area).  The minimum credit score is 620 and must be approved through the automated underwriting system.  Maximum of 3% seller concessions allowed.

Fannie Mae SPCP:

This loan offers a grant of $5,000 plus a $500 credit towards the appraisal cost and $500 towards the home warranty.  This is for 1^st time homebuyers with no income limit.  Homebuyers must currently be living in a targeted census track in GA.  The minimum credit score is 620 and must be approved through the automated underwriting system.  Maximum 3% seller concessions allowed.

100% FHA:

This loan offers any buyer a 1^st mortgage at 96.5% of the purchase price plus a 2^nd mortgage at 3.5% of the purchase price for a total of 100%.  There are no income limits, geographic limits and do not need to be 1^st time homebuyers.  Minimum 600 credit score and must be approved through the automated underwriting system.  6% seller concessions allowed.

Contact me today for more information!

 

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