AHFA is offering the American Dream Downpayment Initiative to reduce out-of-pocket expenses for first-time home buyers with lower incomes.
AHFA's ADDI assistance is a 0% interest, five-year, forgivable, subordinate mortgage. The $10,000 will be used to reduce the first mortgage loan's principal balance.
To participate, you cannot have owned a home in the past three years, you must meet federal guidelines for household income, and sales price limits.
ADDI funds are available sporadically and in limited amounts. Please contact us for current availability.