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 or, $97,300 annual income (whichever is less).
Income limits for these grants are determined by the county location of the home: http://www.freddiemac.com/homepossible/eligibility.html.
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.