: These programs often offer fixed-rate mortgages at below-market interest rates because the underlying bonds are tax-exempt.
Unlike traditional mortgage loans from commercial banks, bond programs use public financing to offer unique benefits to borrowers.
Assistance for low-income families, often in the form of zero-interest loans. 5. Potential Drawbacks bond program for home buying
, for instance, provides up to $10,000 as a 0% interest, deferred loan that isn't paid back until the home is sold or refinanced.
Home Plus Arizona - Home Buyer Down Payment Assistance Program : These programs often offer fixed-rate mortgages at
: Military veterans are often exempt from this requirement.
To find a bond program in your area, you can use the HUD State Assistance Directory to locate your local . To find a bond program in your area,
: Most state programs, such as those in Florida, require a minimum FICO score of 640.