The ACCESS Program is designed to provide low- and moderate-income homebuyers the opportunity to purchase a home when they might not otherwise be able to because they lack the funds for a downpayment or closing costs. The program is NOT limited to first-time homebuyers. Families and individuals who have owned a home in the past are still eligible to apply for financing through the ACCESS Loan Program.

We provide first & second loan financing either conventional or FHA (Certain counties only).

Loan Purpose: Purchase Only Borrower Eligibility: Determined by the First Mortgage Program selected

Non-occupying co-borrower and Non-occupying co-signers (FHA only)

Purchase of Owner-Occupied Primary Residences Only

Eligibilty: Single Family Residence, PUDs and Condos and 2 unit

Occupancy: Primary Residence The borrower may not own any other property as of the mortgage closing date.

Credit Scocres: Coventional- A minimum Credit Score of 680 is required FHA- A minimum Credit Score of 600 is required

Reserves: Determined by the First Mortgage Program selected

Max Loan Limit: Coventional- Conforming Loan Limits/FHA- As permitted by HUD

LTV/CLTV: Determined by the First Mortgage Program Selected

Income: Coventional: Borrowers qualifying income (not household) may not exceed 100% of the AMI (regardless of the family size), except in high-cost areas determined by Fannie Mae/Freddie Mac where the qualifying income may not exceed the lesser of the AMI or the Program Income Limit of 140%.                                                                                                                                       

FHA: Borrower qualify income (not household) may not exceed 120% of HUD Area Medium Income by county.

Downpayment: Determined by the First Mortgage Program selected Interested

Party Contributions: Determined by the First Mortgage Program selected

Sources of Funds: Determined by the First Mortgage Program selected                                          

The ACCESS Second Loan funds may be used for downpayment and closing cost where allowed on the First Mortgage Program selected.

Homebuyer Education: Required only for first-time homebuyers

ACCESS 2nd

•Up to 8% of purchase

•20 Year Fixed-Rate Fully Amortized

•Interest rate of the Second Loan may not exceed the rate of the First Mortgage note by more than 2%.

•The ACCESS Second Loan funds may be used for downpayment and closing cost where allowed on the First Mortgage Program selected.