As a member institution with the Federal Home Loan Bank (FHLB) of Dallas, CU Members Mortgage is now offering credit union members the opportunity to take advantage of their Homebuyer Equity Leverage Partnership (HELP) program. The HELP program assists low-income-qualified, first-time homebuyers with down payment assistance and closing costs. Program specifics include:
- Up to $10,000 in down payment/closing cost assistance for eligible first-time homebuyers.
- Primary residence purchase only; no rentals or investment properties. No refinances.
- Combined household income 80% or less of the Area Median Income.
- Residency of 5 years required without recapture of the grant.
- Homebuyer education is required.
The FHLB has allotted only a designated amount of funds in the program and CU Members has already started to provide assistance through this program. Funds are limited and available on a first-come, first-served basis, one homebuyer at a time.
Members will work with our selected CU Members Mortgage loan officer to determine eligibility and verify available funds. Contact us today to see how your members can take advantage of this program.