In addition to the down payment assistance currently offered through Step Up, the HFA Advantage product provides eligible borrowers a grant to help with closing costs. Borrower(s) qualifying income converted to an annual basis cannot exceed 80% of the Area Median Income (AMI) for property’s location.
Income limits for these grants are determined by the county location of the home: Home Possible Eligibility Map - Freddie Mac Single-Family.
Additional Information and Qualifications:
As with Step Up, this assistance can also be combined with a Mortgage Credit Certificate to make buying a home even more affordable.