Loan Products

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HomeReady® (Fannie Mae) and Home Possible® (Freddie Mac) are low down payment conventional loan programs designed to help low- to moderate-income buyers achieve homeownership.

Both programs allow:

• As little as 3% down
   
• Flexible income sources (including household income from non-borrowers)
   
• Reduced mortgage insurance costs compared to standard conventional loans
   
• Down payment assistance (DPA) compatibility
   
• First-time and repeat buyers (with income limits)
   

These programs are ideal for buyers who may not have large savings but have stable income and want the benefits of a conventional loan.

The Florida Hometown Heroes Program helps eligible working Floridians buy a primary home by offering up to $35,000 for down payment and closing costs. The assistance is a 0% interest, deferred second mortgage with no monthly payments, repayable only when the home is sold, refinanced, or paid off. Eligibility is based on income limits, credit guidelines, and available funding.

Miami-Dade County local agency Down Payment Assistance (DPA) programs help eligible homebuyers with down payment and closing costs when purchasing a primary residence in Miami-Dade County. Assistance is typically offered as a deferred or low-interest loan or grant, depending on the program, with no monthly payments in most cases. Eligibility is based on income limits, first-time buyer status, property location, and funding availability.