Get Approved at The Lowest Rate
Securing a down payment can be one of the biggest challenges on the path to homeownership. That’s why we’re thrilled to offer a comprehensive Down Payment Assistance (DPA) program in Arab, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Arab, AL provides a financial boost to eligible homebuyers in Arab, AL, making it easier to cover the upfront costs of purchasing a home. This assistance is available in the form of a forgivable grant, which means you don’t have to repay it under certain conditions.
Our DPA program is available in most states across the U.S., excluding Washington state. This extensive reach ensures that many aspiring homeowners in Arab, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Arab, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Arab, AL, which can be used for closing costs. This flexibility allows for a more manageable and less stressful home-buying experience.
Enjoy the freedom of homeownership in Arab, AL without any resale restrictions. You can sell your home whenever you choose without worrying about penalties or limitations.
To qualify for our FHA Down Payment Assistance program, you need to meet the following criteria:
A FICO score of 580 qualifies you for Approve/Eligible status in Arab, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Arab, AL.
If you’re still working, you must either be retired or actively volunteer in your community.
We are committed to guiding you through every step of the home-buying process in Arab, AL. Our experienced team will work closely with you to explore your options, ensuring you make informed decisions that suit your financial situation and homeownership goals.
Don’t let the down payment be a barrier to your dream home. Contact Horizon Lending Services today to learn more about our FHA Down Payment Assistance program in Arab, AL and take the first step towards owning your home. Our dedicated professionals are here to help you navigate the complexities of home buying with confidence and ease.
Let Horizon Lending Services be your trusted partner in turning your homeownership dreams into reality.
One of the key benefits of an FHA down payment assistance home loan in Arab, Alabama is the lower down payment requirement, making homeownership more accessible to a wider range of individuals and families. This type of loan also offers competitive interest rates and flexible qualification criteria, which can be advantageous for first-time homebuyers or those with less-than-perfect credit. Arab, Alabama, with a population of approximately 8,300 residents, is a charming small town known for its community-oriented atmosphere and strong sense of local pride. The town boasts a diverse population with a mix of ages and backgrounds, creating a welcoming and inclusive environment for residents. The housing market in Arab, Alabama, offers a variety of options for homebuyers, from quaint historic properties to modern single-family homes. The median home price in Arab is affordable compared to many other areas in the state, making it an attractive location for those looking to purchase a home without breaking the bank. Some of the main attractions in Arab include the Arab Historic Village, which showcases the town's rich history, as well as Lake Guntersville State Park, a popular spot for outdoor recreation. Additionally, the town hosts various community events and festivals throughout the year, creating a vibrant and lively atmosphere for residents and visitors alike.
Benefits of FHA Down Payment Assistance Home Loan in Arab, Alabama
