Your Path to Homeownership: Are You Ready?
Embarking on the journey to buy your first home is thrilling. You envision your future, designing each room, choosing furniture, and imagining the life you'll build. But amidst the excitement, financial worries like down payments and closing costs can creep in. At New American Funding (NAF), we're here to turn your dream into a reality with our Pathway to Homeownership initiative.
What is the Pathway to Homeownership Initiative?
Our Pathway to Homeownership offers qualified first-time buyers in select areas up to $8,000 in assistance - no repayment needed. Plus, it can potentially be combined with other down payment assistance programs for even more support.
Program Highlights
- Up to $8,000 in assistance for down payments, closing costs, or other upfront expenses
- Tailored for first-time homebuyers
- Down payments as low as 3%
- Combinable with other assistance programs
Pathway to Homeownership: Your Options
Our Pathway programs have specific requirements and are available in select markets. Eligibility varies by program, so it's best to connect with your NAF loan officer for detailed information.
Pathway Loan Options
- 30-Year Fixed-Rate Loan: Enjoy stable, affordable monthly payments and protection from market fluctuations. Ideal for both home purchases and refinancing.
- Seller-Paid 2-1 Buydown: Benefit from a 2% lower payment rate in the first year and a 1% lower rate in the second year on your new loan.
- Seller-Paid 3-2-1 Buydown: Enjoy a 3% lower payment rate in the first year, 2% lower in the second, and 1% lower in the third year on your new loan.
Explore our website or consult a loan officer for more details on these loan types. Plus, use our mortgage calculator to start planning your budget.
Pathway is one of many initiatives we offer to help make the dream of homeownership accessible to everyone. We've developed tools, resources, and products specifically for first-time homebuyers. Contact your loan officer today to discover what assistance is available to you.