Are you in need of down payment assistance? Liberty Capital Services can connect eligible homebuyers with down payment and closing cost assistance through the Provident Funding HomeReady First Program. Below, we explain the full details of this exciting program, and how you can qualify.
What is the Provident Funding HomeReady First Program?
The Provident Funding HomeReady First Program is a special down payment assistance program for first time homebuyers. It includes all the benefits of the Fannie Mae HomeReady program, plus an extra $10,000 in grant funds that can be used for down payment and/or closing costs.
Provident Funding HomeReady First Program Features & Benefits
- $10,000 down payment/closing cost assistance in the form of grants
- $500 credit toward the cost of an appraisal
- $500 credit toward the cost of a home warranty
- All other benefits included in the Fannie Mae HomeReady program
Are You Eligible for the Provident Funding HomeReady First Program?
In order to qualify for the Provident Funding HomeReady First Program, you will need to meet the following criteria:
- At least one borrower must be a first time homebuyer.
- At least one borrower must currently be living in an identified metropolitan statistical area (MSA), and be able to back this up with proof of residency.
- The loan must use the HomeReady loan program.
- DU Feedback approval with specific feedback message ID 3673 must be received.
Note that there are no income restrictions for the Provident Funding HomeReady First Program; the HomeReady AMI Cap is waived. This makes it a flexible program for those who perhaps have higher incomes, but not a lot of funds saved up for a down payment.
Apply for the Provident Funding HomeReady First Program
If you are ready to find out if you qualify for the Provident Funding HomeReady First Program, Liberty Capital Services can help you apply. To get started, please give us a call today at (614) 505-0620 to schedule your consultation. We work with homebuyers and homeowners in Columbus and throughout Ohio.