AFR Advantage allows you to offer a down payment assistance program with one set of guidelines, no matter where your client is located.* This program is offered by a governmental entity and may be used with the FHA 203(b) program.
The AFR Advantage Program contains a wide-array of options that will meet your borrower's needs. The program features include, but are not limited to,
- One program used for all types of borrowers, with the same qualifications
- Completely forgivable grant, equals 2% of purchase price
- May be combined with up to 6% seller concession for closing costs
- No resale or borrower repayment restrictions
This program offers a set of flexible qualification criteria. Do you have a borrower that fits into any of the categories below? They may be eligible for the AFR Advantage Program.
- Total borrowers income is equal or less than 140% of median area income, or;
- First-time home buyers, or;
- Any borrower on the loan application who is a current, retired, volunteer or non-paid:
- first-responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), including volunteers or similar);
- medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
- civil servant in a federal, state or local municipality; or
- military personnel
Need help signing up, or want additional information on our available mortgage solutions? No problem, we're here to help! Call (866) 372-6596 or fill out the form.
*Not yet offered in WA or HI