Who can benefit from these loans?
Homebuyers looking for down-payment assistance.
MHDC
- 3.5% down payment required
- Gifts allowed
- Purchase Price limits
- Non-Targeted $311,979-$381,308
- Targeted $399,448-$488,215
- Min. credit score 640
- Seller concessions up to 3-6%
- Cash assistance of 4% of loan amount or second mortgage
- Income Limits (All Other Areas)*
- 1-2 people: $72,300 (Non Targeted)
- 3+ people: $83,145 (Non Targeted)
- For more information about targeted and non targeted areas, please visit website: www.mhdc.com
Next Step
- 3.5% down payment required
- Gifts allowed
- Purchase Price Limits $381,308-$488,215
- Min. credit score 640
- Seller concessions up to 3-6%
- Cash assistance of 4% of loan amount or second mortgage
- Income Limits (All Other Areas)*
- 1-2 people: $86,760
- 3+ people: $101,220
- For more information about targeted and non targeted areas, please visit website: www.mhdc.com