We wanted to provide you with an important update regarding the Hometown Heroes Program. Unfortunately, this program has run out of funds. While there is a possibility that some funds may return to the program as deals that were previously earmarked fall through, there are no guarantees on when—or if—these funds will become available again.
But don’t worry! There are still several fantastic options available for those looking to purchase a home. Programs like the 100% FHA Program and the 0% Down Purchase Program remain excellent alternatives for eligible borrowers. Additionally, there is a program that offers a 3% down payment assistance loan of up to $15,000. The best part? The second lien associated with this loan has no monthly payment requirements and no interest. It is due only as a balloon payment upon refinancing the first lien, paying off the mortgage, or making the final payment on the first lien’s amortization schedule.
These options provide great flexibility and can help you move forward with your home purchase without a significant upfront payment.
At VMA Lending LLC, we are dedicated to helping you find the right financing solution that fits your unique needs. While the future of the Hometown Heroes Program remains uncertain, we are here to guide you through other available options.
Feel free to contact us today to learn more about these programs and see which one might be the best fit for your homeownership goals!
We are here to help you every step of the way!
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