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 Trussville, AL for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Trussville, AL provides a financial boost to eligible homebuyers in Trussville, 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 Trussville, AL can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Trussville, AL. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Trussville, 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 Trussville, 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 Trussville, AL, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Trussville, 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 Trussville, 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 Trussville, 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 offer several benefits to homebuyers in Trussville, Alabama. These loans require a lower down payment, typically 3.5% of the home's purchase price. This makes homeownership more accessible to first-time buyers and those with limited funds for a down payment. Furthermore, FHA loans have competitive interest rates and less stringent credit score requirements compared to conventional loans. This can make it easier for individuals with lower credit scores to qualify for a mortgage and purchase a home in Trussville. Additionally, FHA loans allow for higher debt-to-income ratios, providing more flexibility for borrowers with existing debts. This can be beneficial for those looking to buy a home in Trussville while managing other financial obligations. Demographics Trussville, Alabama, has a population of approximately 21,023 residents, with a median age of 40.4 years. The median household income in Trussville is $89,131, with a poverty rate of 5.94%. The city has a diverse population, with a mix of young professionals, families, and retirees. Housing Market The housing market in Trussville is currently experiencing steady growth, with a median home price of $310,000. The market offers a variety of housing options, including single-family homes, townhouses, and apartments. The demand for housing in Trussville is driven by its excellent school system, low crime rate, and convenient location. Main Attractions Trussville offers a range of attractions, including the Trussville Civic Center, the Cahaba River Walk, and the Mall of Trussville. The city also has several parks, restaurants, and shopping centers, providing residents with plenty of recreational and entertainment options.
Benefits of FHA Down Payment Assistance Home Loan in Trussville, Alabama
