Home Buying Assistance Program – HomeChoice

The HomeChoice program offers single-family mortgage options designed to meet the mortgage underwriting needs of people with disabilities or those who have a family member with a disability. HomeChoice is a 2nd mortgage, not a down payment assistance program. The low interest rate helps lower the overall monthly payment to make it more affordable.

Program Features:

  • Provides up to $70,000 per household
  • 1% interest rate on the HomeChoice funds
  • 30 year fixed-rate term
  • Non-traditional credit histories may be considered
  • Funds may be used for purchase or refinance (NOT down payment) 

Eligibility Requirements:

  • Any individual with a disability (or who has a household member with a disability) as defined by the Americans with Disabilities Act of 1990 or by the Fair Housing Amendment Act of 1988
  • The combined household income must meet the current HUD income guildelines
  • The borrower must qualify for a primary mortgage
  • The borrower must have a FICO credit score of 640 or above
  • The borrower must not have a debt-to-income ratio that exceeds 45%
  • The borrower must contribute a minimum of $500 towards the purchase of the home
  • Cannot be used as a down payment
  •  

To get started:

Check to see if your income meets HUD requirements

HUD Income Limits Table

Download and complete the application

HomeChoice Application

For more information contact Suzanne at 435-799-8116 or sstout@nnhc.org