Home4All
The Home4All program is designed to assist people to become homeowners by providing up to $25,000 in homebuyer assistance.
You MUST contact the housing counseling agency in your area before proceeding. You MUST complete the homebuyer education process with a housing counseling agency BEFORE any loan can be reserved. IF you do not have a certificate of completion from the counseling agency, you will not be able to proceed with a loan reservation for this grant program.
FEATURES
- Property must meet local housing quality standards in areas with local building codes or written clearance from either a licensed home inspector or US HUD-approved appraiser.
- Property meets Section 8 Housing Quality Standards.
- May be used with FHA, VA, USDA Rural Development Direct or Guaranteed loans, and approved Fannie Mae or Freddie Mac 30-year conventional loan with Private Mortgage Insurance.
- May be paired with the Mortgage Credit Certificate (MCC).
HOW DO I QUALIFY?
- Cannot have owned or have had an interest in a principal residence within the past three years.
- Must qualify to purchase the property by permanent fixed-rate mortgage through an MHC-approved lender.
- Household income must be below 80% of median income, adjusted for family size.
- Must be a US citizen.
- Homebuyer education is required through a HUD-approved housing counselor.
- Purchase Price Limits vary by county.
- Downpayment assistance cannot exceed 50% of the purchase price.
- Grant amount will be based on the homebuyer’s need and is subject to an affordability period.
- Must be in an eligible area.
- Must serve as the primary residence.
- Only site-built, single-family homes, condos, townhomes, and manufactured homes are eligible.
- The new construction property must be complete.