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Information for Single-Family Lending and Real Estate Professionals
Program Announcement
April 17, 2020
HomeChoice Downpayment Assistance Program
Dear Partners,
Effective immediately.
We’re excited to announce the following changes to our HomeChoice Downpayment Assistance Program.
All eligible households at or below 100% AMI – may receive up to $15,000 in assistance.
HomeChoice loans are available to low-to-moderate-income people with disabilities and people who have family members with disabilities who live with them as defined by the Americans with Disabilities Act of 1990.
Previously, the maximum loan amount under the HomeChoice program was tiered ($15,000, $12,500, or $10,000) and served borrowers with incomes at 50% and below, 50% - 80%, and 80% - 100% of Area Median Incomes (AMI) respectively.
Interested in offering this program to your borrowers? Please be advised that Loan Officers must complete the HomeChoice Training, in addition to the Commission Home Loan Program Training to be eligible to originate under the program. To find out more about HomeChoice program training.
The HomeChoice manual have been updated.
If you have additional questions, please email Corinna Obar.