HomeChoice is a downpayment assistance, second mortgage loan program for qualified borrowers who have a disability or who have a family member with a disability living with them. Funds up to $15,000. HomeChoice combines with House Key and Home Advantage first mortgage loan programs. One-on-one counseling is required.
I need refferal for a lender who works with my community loan or my community choice program by fannie mae. I am for ark I need community homechoice u. HomeChoice Program HomeChoice is a. Californians in purchasing their first home by participating in Fannie Mae's HomeChoice Program. Program Elements For More. The Federal National Mortgage Association (Fannie Mae) is a government-sponsored company. Its Community HomeChoice program is available in all states and offers the following housing aid for people with disabilities: Low down payment programs Mortgage-qualification aid such as lower debt-to-income requirements. Federal National Mortgage Association (Fannie Mae) designed the Community HomeChoice mortgage product for people with disabilities or with family members who. Fannie Mae offers the Community HomeChoice Program, that provides help to. The program, the Flex Modification, available by or on Oct. 1, 2017, is open to borrowers who are at least 60 days delinquent on their loan. “The new flex modification announced by Fannie Mae.
- HOMEOWNERSHIP
- MULTIFAMILY
- BEYOND HOUSING
- COMPLIANCE
HomeChoice is a downpayment assistance, second mortgage loan program for qualified borrowers who have a disability or who have a family member with a disability living with them. Funds up to $15,000. HomeChoice combines with House Key and Home Advantage first mortgage loan programs. One-on-one counseling is required.
GETTING STARTED
The first step is to meet with HomeChoice Lender in your area that has been trained on the HomeChoice program. The HomeChoice Lender will determine if you are eligible for the HomeChoice second mortgage program and will then refer you to a freeHomebuyer Education Seminar and a HomeChoice trained Service Provider. For additional trained lenders or service providers, please [email protected] or call 206-464-7139 or 800-767-4663.
PROGRAM DESCRIPTION
The HomeChoice Second Mortgage program is a Downpayment Assistance Program for low- to-moderate income people with a disability or who have a family member with a disability living with them and qualify for Home Advantage first mortgage loan program. A 1.00% interest rate on the Downpayment Assistance loan program for first-time homebuyers (borrowers who haven't owned and occupied their primary residence in the past three years). If you buy in a targeted area you do not have to be a first-time homebuyer.
MAXIMUM INCOME LIMITS as of 7/2/2020*
King/Snohomish $113,300
All Other Counties $89,800
* Other requirements may apply. Please check with your lender or service provider to verify the limits. HomeChoice borrowers also must complete a Commission-sponsored homebuyer education seminar prior to reservation of funds.
BENEFITS
The Program offers up to $15,000 per household in a 1.00% interest, payment deferred second mortgage. Second mortgages are due when home is sold, or if home is refinanced or after 30 years.
PARTICIPATING LENDERS
Colt sp1 serial numbers dates. We would like to thank the following Lenders for their participation in the Specialty Downpayment Assistance Program in the last year: (Verify a mortgage company or individual: www.nmlsconsumeraccess.org)
![Homechoice Homechoice](https://image.slidesharecdn.com/my-community-mortgage-flexible-mortgage-ppt-1226605632952616-9/95/my-community-mortgage-flexible-mortgage-ppt-2-728.jpg?cb=1226576792)
Click here for the list of Participating Lenders.
HOMECHOICE SERVICE PROVIDERS
Statewide
American Financial Solutions, 888-864-8699, www.myfinancialgoals.org
Parkview Services, Loretta Cael at 509.861.3330 www.parkviewservices.org
Asotin County
Valley Residential Services, Nancy Riggle, 509-522-0400
Clark & Skamania Counties
Community Housing Resource Center, 360-690-4496 x100
Ferry County
Rural Resources Community Action, Jan Owens, 509-685-6179, www.ruralresources.org
King County
HomeSight, Staff member, 206-723-4355, www.homesightwa.org
Parkview Services, Loretta Cael at 509.861.3330 www.parkviewservices.org
Urban League of Metropolitan Seattle, 800-368-1455
Parkview Services, Loretta Cael at 509.861.3330 www.parkviewservices.org
Urban League of Metropolitan Seattle, 800-368-1455
Pend Oreille County
Rural Resources Community Action, Jan Owens, 509-685-6179, www.ruralresources.org
San Juan County
Opal Community Land Trust, Julie Brunner, 360-376-3191, www.opalclt.org
Snohomish County
Homestead Community Land Trust, Staff member, 206-323-1227, www.homesteadclt.org
Parkview Services, Loretta Cael at 509.861.3330 www.parkviewservices.org
Parkview Services, Loretta Cael at 509.861.3330 www.parkviewservices.org
Spokane County
The Arc of Spokane, Loretta Cael, 509-789-8326, www.arc-spokane.org
Spokane Neighborhood Action Partners, 509-319-3041 www.snapwa.org
Spokane Neighborhood Action Partners, 509-319-3041 www.snapwa.org
Stevens County
Rural Resources Community Action, Jan Owens, 509-685-6179, www.ruralresources.org
Walla Walla County
Fannie Mae Community Homechoice Program
Valley Residential Services, Nancy Riggle, 509-522-0400
Whatcom, Skagit & Island Counties
Kulshan Community Land Trust, Staff member, 360-671-5600, x1, http://www.kulshanclt.org/
Other Counties
If there is no Service Provider located in your area, please refer to a service provider in a neighboring county or email [email protected].
QUESTIONS
Fannie Mae Community Homechoice Program For Disabled
If you have questions about the HomeChoice Downpayment Assistance Loan Program, please contact Dietrich Schmitz at 206-287-4459 or toll free at 800-767-4663, Ext. 459, or by e-mail [email protected].