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 New Market, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in New Market, AL provides a financial boost to eligible homebuyers in New Market, 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 New Market, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in New Market, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in New Market, 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 New Market, 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 New Market, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in New Market, 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 New Market, 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 New Market, 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.
**Benefits:** 1. **Low Down Payment:** The FHA loan program offers down payments as low as 3.5%, making homeownership more accessible to first-time buyers. 2. **Assistance Programs:** New Market residents may qualify for down payment assistance programs, further reducing the upfront costs of buying a home. 3. **Fixed-Rate Loans:** FHA loans offer fixed-rate options, providing stability and predictability in monthly mortgage payments. **Demographics:** New Market, Alabama, has a population of approximately 1,600 residents. The community is diverse, with a mix of young professionals, families, and retirees. The median household income is around $60,000, and the median home value is $180,000. **Housing Market:** The housing market in New Market is currently experiencing steady growth, with a variety of housing options available. The average home price has increased by 5% in the last year, making it an attractive market for both buyers and sellers. With the help of FHA loans, more residents can afford to purchase a home in this competitive market. **Main Attractions:** New Market offers a mix of rural charm and modern amenities. Residents can enjoy outdoor activities at Sharon Johnston Park, explore local shops and restaurants in the historic downtown area, and attend community events such as the annual Harvest Festival.
FHA Down Payment Assistance Home Loan Benefits in New Market, Alabama
