• Maximum 48% debt to income ratio (DTI).
  • Of FHA’s 3.5% minimum down payment, we give the buyer 2% as a Grant and the buyer must bring the other 1.5% (which can be a gift). 
  • 580 Minimum FICO if DU approves. Most other down payment assistance programs require a 640!
  • At least ONE borrower on the loan must be a  first-time homebuyer OR at least one borrower must be a current/retired employment or volunteer/non-paid member of any of the following:
    • First responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT) or similar;
    • Educator (Sunday school teacher, tutor, daycare provider);
    • Medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
    • A civil servant in a Federal, state or local municipality or
    • Military personnel.
  • Income Limits: 140% of Area Median Income.  This is based ONLY on the qualifying income.  So if we don’t need overtime/bonus income to qualify we don’t have to count it!
  • Non-occupant co-borrowers ARE allowed! No other DPA program allows this!
  • High balance loan limits are allowed!  In local Maryland and Virginia counties, this means purchase price can be as high as $704,300 [max loan $679,650].
  • Homeownership counselling is required; However, the borrower will receive a $100 credit back at closing to cover the cost.