The Hurricane Michael Recovery Loan Program, launched September 1 offers below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualified homebuyers. DPA loans will be zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. Additionally, those eligible do not have to be a first-time homebuyer to qualify for this program, though the home must be owner-occupied. The purchase price limit for this program is $360,067! Minimum credit score requirement is 640!
Listed below are the income limits based on the county you are purchasing a home in. This is applicant income, not household income.
If you would like to start the prequalifying home loan process, please click on the link www.hancockwhitney.com/stacey-price to create an account and fill out the online application.