FIRST TIME HOMEBUYER 

Being a first time home buyer can be scary.  All the questions running around in your head:  Do I make enough money? Is my credit good enough? Can I afford a mortgage?  Can I not afford a mortgage?  Why am I paying my landlords mortgage instead of investing in my own home?

WHAT IS THE HOUSE KEY STATE BOND PROGRAM?

The House Key State Bond program is a loan program that Country Wide Home Loans uses to help firsttime homebuyers or previous homeowners purchasing in a targeted area purchase their home at an interest rate that is below the market interest rate. Country Wide will qualify you on a typical 30 or 40 year mortgage loan program (i.e. VA, FHA, or Conventional) using the House Key lower interest rate.

WHAT KIND OF PROPERTY CAN I FINANCE?

A single family home, town home, condominium, and in some instances, a manufactured home, can be financed with the House Key State Bond loan program.

WHAT ARE THE BENEFITS OF THE HOUSE KEY STATE BOND PROGRAM?

By using the House Key State Bond loan program with the below-market interest rate options, you can lower your monthly mortgage payment. There are also down payment assistance loan programs to assist eligible homebuyers with both their closing costs and down payments.

HOUSE KEY PLUS DOWN PAYMENT ASSISTANCE PROGRAM

House Key Plus is a down payment assistance program second mortgage with a 5.00% interest rate and a 10-year loan term. Borrowers must be fi rst-time homebuyers (which are defined as not owning a home within the past three years) or buy in a targeted area and meet the House Key Program income limits and acquisition cost (see bottom of page at www.wshfc.org/buyers/key.htm for details).

HOME CHOICE

Home Choice is a down payment assistance program for people with disabilities (must qualify under the American with Disabilities Act).