Get Approved for Buyer Assistance

Home Buyer Assistance The minimum qualifying requirement for Buyer Assistance is that you qualify for the first mortgage.  Once your lender has approved you for the First Mortgage, you can look into the specific qualifying requirements for available Buyer Assistance programs.

Buyer Assistance Loan Limits

Most down payment assistance programs have maximum loan limits.

Buyer Assistance Loan Limits

Many Buyer Assistance programs use AMI (Area Median Income) plus a % as the maximum income limit for the program.

First Time Home Buyer Requirement

Not all programs have a first time buyer requirement.  Those that do, the definition is “Someone who has no owned a primary residence in the past 3 years.”

This is great timing since the opportunity to buy again after Bankruptcy, Foreclosure or Short Sale is 3 years when using FHA financing.   This is great news for boomerang buyers coming back into the Real Estate Market, who are now eligible for First Time Buyer Assistance.

Speak to your Loan Officer during the interview about Buyer Assistance Programs the Lender is approved to offer.  Not all Lenders will offer all available assistance programs.

You can search on your own or ask your Lender for their experience with this Buyer Assistance Program.  The approval time for this program should not affect your Pre-Approval.

Next:  10 Commandments for Pre-Approval Preservation

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This material is not from HUD or FHA and has not been approved by HUD or a government agency © Point Financial Kailua-Kona. All Rights Reserved.  Website powered by Ziemelis Communications