Downpayment Assistance for BMR Units
The following assistance programs may be available to qualified below market rate (BMR) homebuyers:
The BMR Down Payment Assistance Loan Program (BMR DALP) can provide downpayment assistance of up to 15% of the purchase price of a BMR unit.
The Mortgage Credit Certificate (MCC) Program can deduct 15% of your mortgage interest from your annual tax debt.
The Federal Home Loan Bank's Workforce Initiative Subsidy for Homeownership (WISH) Program is a tax benefit program that provides grants to qualified homebuyers at 80% of Area Median Income. WISH will provide up to $15,000 per household, matching up to $3 for every dollar contributed by the homeowner toward the purchase of the home. This program is possible only through certain banks.