Updated April 22, 2024: GET UP TO $11,000 IN DOWN PAYMENT ASSISTANCE
Recent years have seen staggering increases in rent, soaring housing prices, and many individuals finding themselves priced out of their communities. But fear not! At American Home Lending USA, LLC, we're committed to reversing this trend. Our goal is simple: to help you achieve your dream of owning a home.
We are thrilled to announce an expanded grant program tailored to offer greater opportunities for first time homebuyers to realize their dream of homeownership. This program is designed to help make homeownership more accessible for first time homebuyers in underserved areas. Eligible first time home buyers can now recieve up to $11,000 in down payment assistance for their first home. Program benefits include:
- $10,000 towards Down Payment and Closing Costs
- $500 credit towards the cost of the appraisal fee
- $500 credit towards the cost of a home warranty (if purchasing one)
Don’t let the lack of a big down payment stand in your way of homeownership. If you’re a first time homebuyer and you currently reside in one of the eligible markets, you may qualify for up to $11,000 toward your down payment and closing costs. Reach out to us today to learn more and embark on your journey towards owning your first home using one of the best down payment assistance programs in the country.
HomeReady First Grant Is Built for First Time Home Buyers
Turn the American dream of homeownership into reality with American Home Lending USA, LLC. We're extending a helping hand to eligible first-time homebuyers residing in qualifying neighborhoods across select cities, providing up to $11,000 towards mortgage down payment and closing costs.
First Time Homebuyer Program Highlights:
- $10,000 in down payment or closing cost assistance
- $500 credit for home warranty
- $500 credit for appraisal reimbursement
- No income limits
- 3% down payment
- Low wholesale mortgage rates
- Non-traditional credit history accepted
- Homebuyer education programs are required to set you up for success
- At least one borrower must be a first time homebuyer with no ownership interest in any other properties
- Property must be the homebuyer's primary residence - no second home or investment properties allowed
- Other eligibility requirements apply
Available to homebuyers residing in select metropolitan areas (MSA)
Not all census tracts within the below MSA’s are eligible. Eligibility is determined by the Census Tract location within the MSA. Eligibility of the particular census tract in which the borrower currently resides is strictly confirmed by underwriting. Please contact us to determine your eligiblity.
California
- Riverside-San Bernardino-Ontario
DC, Virginia, Maryland, West Virginia
- Washington DC Area
Florida
- Miami-Fort Lauderdale-West Palm Beach
- Orlando-Kissimmee-Sanford
- Tampa-St. Petersburg-Clearwater
Georgia
- Atlanta-Sandy Springs-Roswell
Illinois, Indiana
- Chicago-Naperville-Elgin
Maryland
- Baltimore-Columbia-Towson
Michigan
- Detroit-Warren-Dearborn
Missouri, Illinois
- St. Louis
Pennsylvania, New Jersey, Delaware, Maryland
- Philadelphia-Camden-Wilmington
Tennessee, Mississippi, Arkansas
- Memphis
Texas
- Brownsville-Harlingen
- Dallas-Fort Worth-Arlington
- Houston-Pasadena-The Woodlands
- McAllen-Edinburg-Mission
- San Antonio-New Braunfels
What is the HomeReady™ First Program?
Special Purpose Credit Program (SPCP)
Every year, over one million people become homeowners for the first time, including many who never thought they’d own a home. Take the first step to homeownership and build a legacy that can last for generations.
This Special Purpose Credit Program (SPCP) is designed to provide down payment and closing cost assistance to support sustainable homeownership to individuals residing in select metropolitan statistical areas (MSA's). The SPCP applies to eligible census tracts.
Proof of current residency requires at least two forms of documentation, which may include a current state-issued identification card, driver's license, verification of rent (VOR), cellphone bill, utility bill, insurance bill, vehicle registration, or other reasonable documentation.
Qualification is determined as follows (in addition to current HomeReady Guidelines):
- You must be a first-time homebuyer with no ownership interest in any other properties
- The home must be the homebuyer’s primary residence — no second home or investment properties allowed
- You must currently be living in one of the following eligible markets
HomeReady™ are registered trademarks of Fannie Mae.