The SETH Program Grant
The SETH Grant is a great opportunity for you and your family to get the down payment assistance you need. The money you receive is a grant, which mean it does not have to be paid back! This is the opportunity you have been waiting for.
How much assistance will be provided?
The minimum that can be applied towards your down payment is 1% and the max value is 6%. You read that correctly, 6%!! Wow! This can help you an your family keep more money in your pocket to help you move into you next home and pay fore related expenses. For example, if you are purchasing a $100,000 home and you qualify for the SETH Grant you can apply 6% or $6,000 towards your down payment.
The money can be used to cover your lender fees, title fees, and the down payment. A standard FHA loan will require a minimum of 3.5%. That means you can still use some of the remaining SETH Grant to cover closing costs for the loan.
How to qualify?
Eligible participants can qualify by meeting specific income requirements that vary depending on house hold size. Further, you will need a minimum credit score to qualify. These are the basic requirements. Before you count yourself out based on credit score, and income. talk to a lender who knows the qualifications. I have interviewed Kristi Hernandez with AMCAP Mortgage and she is trained specifically in helping families and individuals qualify to use the SETH Down Payment Assistance Grant.
Give me a call today to take advantage of this great program to help you and your family move into the home you have been waiting for!
Matt Reyes, REALTOR 832-827-3545