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 Florence, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Florence, AL provides a financial boost to eligible homebuyers in Florence, 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 Florence, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Florence, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Florence, 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 Florence, 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 Florence, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Florence, 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 Florence, 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 Florence, 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.
FHA down payment assistance home loans provide significant benefits to potential homebuyers in Florence, Alabama. These loans offer a lower down payment requirement, typically as low as 3.5%, making homeownership more accessible for individuals who may struggle to save for a traditional down payment. Furthermore, FHA loans often have more flexible credit score requirements, allowing individuals with less-than-perfect credit to qualify for a mortgage. This can be especially beneficial for first-time homebuyers or those with limited credit history. Additionally, FHA loans offer competitive interest rates, potentially saving borrowers money over the life of the loan. Combined with the down payment assistance program, these loans make purchasing a home in Florence, Alabama, more affordable and achievable for many residents.
Benefits of FHA Down Payment Assistance Home Loan in Florence, Alabama
