CHAMP Loan

The CHAMP program is designed to provide financing for low and moderate income (LMI) applicant(s) or on properties located in designated low- or moderate-income census tracts.

Borrower Eligibility
In order to utilize the CHAMP program:

• The applicant(s) must be below 80% of the Area Median Income (AMI) regardless of census tract designation; or
•  The applicant(s) income can be up to 185% of the AMI if the property is located in a low or moderate census tract within designation
• Homebuyer Education performed by a HUD- or GSE-approved housing counseling agency is required.
• Must not currenty own any real estate
• Minimum credit score of 640

Private Mortgage Insurance (PMI)
No PMI is required.

Down Payment Assistance Loan

These loans assist our clients purchase a home by providing the funds towards their down payment.

Eligible Transactions

Funds can be used for:

• Down Payment
• Closing Costs
• Pre-Paids

Loan Terms

• Loans are up to $15,000
• Interest rate will match that of first mortgage
• 10 year term
• Funding available for all income levels  (up to 140% AMI)