Monday, 20 May 2019
For people who are working hard to pay rent and other bills, saving money to buy a home can seem out of reach.
Between everyday expenses and unexpected emergencies, it can feel nearly impossible to find enough extra cash for a down payment and closing costs.
But the fact is, some banks like BBVA offer special mortgage options that make homeownership possible for many people who might not otherwise have the opportunity.
Home Ownership Made Easier -- was created specifically to put homeownership within reach. The program has some very specific guidelines to qualify, and if you do, you can take advantage of some benefits that traditional mortgages might not offer.
BBVA is working to deliver on its commitment to invest in communities and help more people achieve the dream of homeownership. Talk with a BBVA mortgage expert to learn more about the HOME program and other available mortgage options that could help you.
1Requires a $500 contribution toward the transaction from the borrower's own funds.
2Program applies to first lien residential mortgage loans to purchase or refinance a primary residence in AL, AZ, CA, CO, FL, NM, & TX. All Borrowers and / or Properties eligible for the HOME Product are eligible for up to $3,500 towards closing cost and other assistance. To qualify for the product, the property must either be located in a low or moderate income census tract, or the income of all applicants on the loan must be less than 80% of the FFIEC Median Family Income. To view census tract and income limit data, visit https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx. Maximum Loan-to-Value is less for loans on condominiums and for certain other transactions. Talk with a BBVA mortgage expert for details.
The content provided is for informational purposes only. Neither BBVA USA, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial advisor about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA USA or any of its affiliates.
Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA USA does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards.
Total maximum assistance, including all lender credits, bank paid fees, waived fees, and pricing assistance cannot exceed $3,500. A lender credit of $500 will be applied at closing. Underwriting and processing fees will be waived (an $1,100 value). Additional assistance is applied via a price adjustment and varies by loan size. For Purchase transactions, lender credits cannot be used to offset fees or charges already being paid by the property seller in accordance with the sales contract. All loans subject to program eligibility, collateral and underwriting requirements and approvals, including credit approval.
Property insurance is required, including flood insurance where applicable. Maximum loan limits and minimum equity down payment requirements apply.
BBVA USA is a Member FDIC and an Equal Housing Lender. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group.
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