Buydown assistance
Buydown Assistance
The American Dream Grant Program
Is a nonprofit corporation organized and operated exclusively for charitable purposes, specifically to solicit funding from private, state, and federal organizations to assist first time homebuyers achieve homeownership with buying down their interest rate for an affordable mortgage payment.
Our program provides homebuyer buydown grants (up to $25,000), a critical tool in making homeownership more affordable. These grants help reduce the interest rate for homebuyers, thereby lowering monthly mortgage payments. This financial assistance is especially crucial in a market where high interest rates have drastically reduced housing affordability.
Program Highlights
Maximum contribution is $25,000
Target group – Buyers that fall below 80% of the median income can receive up to the maximum contribution of $25,000
Non Target group – Buyers that fall between 80.01% to 100% of the median income can receive a matching grant up to $25,000
Buyers will need to approved by a lender or program that allows 100% financing , with no PMI and pays closing cost.
Future program addition
Employer contribution – 2 to 1 match for Buyers within 100% to 120% of the median income
Middle-Income Buyers- Grant for Down payment assistance up to $50,000. These funds can be used for down payment, closing, and to buy down your interest rate.
Grants are being issued on a first-come, first-serve basis, and subject to available funds. To find out how to apply and if you qualify please use the below link and complete the qualification questionnaire: