The Federal Home Loan Bank (FHLB) of Dallas is offering the Homebuyer Equity Leverage Partnership (HELP) program to low-income-qualified, first-time homebuyers through member institutions such as CU Members Mortgage. The program helps these homebuyers with down payment assistance and closing costs. The program benefits 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 limited amount of total funds in the program and they are available on a first-come, first-served basis, one homebuyer at a time. When you apply for a mortgage, your loan officer will work with you to determine eligibility and if funds are still available.
Act now to determine your eligibility for this special program by contacting your CU Members Mortgage loan officer today.