Buying a New Home, Already Own
Power Purchase Program
- 1% Minimum borrower cash investment required, based on the appraised value or sales price, whichever is lower
- 2% Power Purchase contribution is in the form of a Grant, no repayment required
- Not limited to first-time homebuyers
- 30 Year fixed rate loan term
- Reduced mortgage insurance
- Power Purchase Plus Includes Lender Page Mortgage Insurance
- Single family residences, condos, and town home property types allowed
- Income limits apply, certain designated geographic areas have no income limits
620 Minimum Credit Score for All Borrowers