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 are open now open for 2017! Contact us to learn more.
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.