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First Time Homebuyer Promotion
Through First Front Door (FFD), first time homebuyers who qualify, can receive a match towards downpayment of 3-to-1. For every $1 the new homeowner contributes, they can receive $3 in grant assistance, up to a maximum of $5,000.
Grant funds will open soon for 2018! Contact us to learn more. Or register now for our First Time Homebuyer event!
Who Can Qualify for First Front Door?
To qualify, you must:
- Be a first time homebuyer (which means you haven’t owned a home within the past three years, or you owned a home only while married but not as a single person within the last three years – this includes a married couple if either has not owned a home in the past three years).
- Secure a first mortgage through a participating financial institution such as Mars Bank.
- Have an income at or below 80 percent of the area median income.
- Not be a student working less than 30 hours per week.
- Complete at least four hours of homeownership counseling prior to purchasing the home.
- Agree to maintain the home for five years to retain the full amount of the grant. If a sale occurs before the five years expire, a portion of the grant may be required to be repaid.
- Bank personnel will review these and other program requirements with you.