Homeownership Programs
Homeowners with an FHA mortgage may be eligible for a refund from HUD. The mission of HUD's Office of Financial Services - Single Family Insurance Operations Division (SFIOD) is to pay eligible homeowner refunds or distributive share payments. HUD will make every effort to ensure payment owed to homeowners is done in a cost-effective and timely manner. Click to HERE to learn more
First Step
- First time homebuyer*
- Down Payment Assistance (DPA)
- 30 Year Fixed-Rate mortgage
- FHA or Conventional
- Non-Forgivable DPA
- $250 Reservation Fee
*Must be first time homebuyer or purchase in targeted census tract
Click here to access the Homeownership Program Guide
Step Down
Rate Only Purchase Option
- First time homebuyer*
- 30 Year Fixed-Rate mortgage
- FHA or Conventional
- $250 Reservation Fee
*Must be first time homebuyer or purchase in targeted census tract
Click here to access the Homeownership Program Guide
Next Home
- Down Payment Assistance (DPA) of 2.50% or 3.50%
- Based on the purchase price
- Not to exceed the appraised value
- FHA or Conventional 30-year fixed rate loan
Click here to access the Homeownership Program Guide
Next Step
Refinance Program
- One-time refinance opportunity for IHCDA First Place and First Step mortgages
- 30 Year Fixed-Rate mortgage
- FHA or Conventional
- Non-Forgivable DPA
- $250 Reservation Fee
Click here to access the Homeownership Program Guide