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 Russellville, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Russellville, AL provides a financial boost to eligible homebuyers in Russellville, 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 Russellville, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Russellville, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Russellville, 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 Russellville, 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 Russellville, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Russellville, 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 Russellville, 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 Russellville, 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.
1. Low Down Payment: FHA loans require as little as 3.5% down, making homeownership more attainable for many buyers. 2. Flexible Credit Requirements: FHA loans are accessible to borrowers with less-than-perfect credit scores. 3. Down Payment Assistance: Programs available to help cover down payment and closing costs, further reducing financial burden. Demographics Russellville, Alabama, has a population of around 9,830 people. The median household income is $31,988 annually, with a diverse community makeup. The housing market in Russellville is characterized by affordable home prices, with a median home value of $102,245. The market is stable, with a good mix of single-family homes and apartments for various preferences. Russellville offers a charming downtown area with local shops and restaurants. Outdoor enthusiasts can explore the nearby Dismals Canyon or enjoy fishing and boating on the nearby lakes.
Benefits of FHA Down Payment Assistance Home Loan
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