NeighborhoodLIFT funds are provided as a 5 year forgivable loan program for owner-occupied properties. As long as the borrower resides in the home the loan will be forgiven at a […]
NeighborhoodLIFT funds are available for conventional and VA first mortgage loan borrowers with a HOUSEHOLD income up to 120% of the Area Median Income (AMI). For borrowers using an FHA […]
Yes. HOUSEHOLD income is calculated using all income for people ages 18 and older living in the home after the purchase. View the household income chart.
You may be required to make an additional down payment contribution from your own funds if your āremaining liquid assetsā at the time of settlement will exceed $20,000. āRemaining liquid […]
A complete list of participating partner lenders is available on the Alamo Community Group website
Homebuyer education is an eight-hour class that teaches about the home buying process. It includes a one hour session with a certified counselor. You may schedule a class with Alamo […]
No. Only homebuyer education certificates from HUD Approved Housing Counseling Agencies located in San Antonio that have adopted the National Industry Standards for Homeownership Education and Counseling are eligible for […]
Yes, if you currently own a home but will be selling it prior to closing on the NeighborhoodLIFT property, you can still be eligible for the program. At the time […]
Short sale properties are eligible for the program.Ā The purchase agreement for the short sale property must be signed by the buyer and the seller to apply for NeighborhoodLIFT funds.Ā […]
NeighborhoodLIFT down payment assistance funds may be used for any eligible purpose including closing cost assistance, down payment assistance, or borrower minimum out-of-pocket investment if allowed by the first mortgage […]
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