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 Newbern, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Newbern, AL provides a financial boost to eligible homebuyers in Newbern, 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 Newbern, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Newbern, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Newbern, 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 Newbern, 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 Newbern, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Newbern, 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 Newbern, 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 Newbern, 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 significant benefits of a FHA down payment assistance home loan in Newbern, Alabama is the lower down payment requirement, making homeownership more accessible for individuals and families. These loans also offer competitive interest rates, helping to reduce overall borrowing costs. Demographically, Newbern, Alabama, has a population of approximately 1800 residents, with a mix of age groups and a strong sense of community. The town has a median household income of $50,000 and a diverse population, creating a vibrant and welcoming atmosphere. In terms of the housing market, Newbern offers affordable housing options, with a median home price of $120,000. The market is stable, with steady appreciation rates, making it an attractive location for first-time homebuyers and investors alike. Main attractions in Newbern include the nationally recognized Bluff Park, known for its stunning views of the countryside, as well as the historic Newbern Depot Museum, showcasing the town's rich heritage and culture.
FHA Down Payment Assistance Home Loans in Newbern, Alabama
