Each prospective homebuyer must:
Be a first-time homebuyer
- A person who has not owned a single-family home used as their primary residence in the last three years
- This also includes, if purchasing jointly with other individuals, at least one person has not owned a single-family, primary residence in the last three years, or
- If an investment property is owned, the person is not living there and has not owned a single-family, primary residence in the last three years
Contribute personal funds as part of the down payment and closing costs. For every $1 the homebuyer contributes, FFD will provide $3, up to a maximum grant of $5,000. Homebuyer contribution can take the form of savings, a gift, a tax refund, an inheritance, or any other funds the homebuyer personally contributes to the purchase. Homebuyer contributions are not other loans, grants or sellers assistance/equity.
Be income eligible. First Front Door reviews the income of the entire household when determining eligibility for the program. The income of the household must be at or below 80 percent of the area median income at the time of FFD program enrollment. To check income limits for all states (use low-income limit) click here
Not be a student working less than 30 hours per week. Complete at least four hours of homeownership counseling from an approved counseling agency prior to the purchase of the home. Counseling must include the topic of predatory lending.
Not receive cash back at settlement for any reason. Please ensure that your lender provides no more than $250 cash back at loan closing.
Retain the home for five years from the loan closing date in order to keep the full amount of the grant. If the home is sold prior to five years, some of the grant subsidy may need to be repaid. Work with your lender to understand this commitment.
Qualified first-time homebuyers can use FFD grants toward closing costs and down payment assistance on eligible properties that are intended as the primary residence of the homebuyer at the time of program enrollment. These properties include single-family homes, townhomes, condominiums and modular units. Manufactured homes may be eligible if they are permanently affixed to a site. Investment properties are not eligible for FFD assistance.