Down Payment Assistance for First-Time Buyers

Here’s Help for Homebuyers Who Are Short on Cash!
First Federal has loan programs that can help you buy a home…even if you don’t have a lot of cash on hand.

With First Federal you can:
• Finance the entire purchase price of you home
• Minimize or eliminate the down payment
• Experience lower closing costs, local processing & underwriting

Since we opened our doors in 1934, First Federal has been committed to reinvesting in the growth of the communities we serve. That is why we use most of the funds deposited here to help people like you achieve the dream of home ownership. And at First Federal, we offer a variety of loan options so you can find the financing arrangement that works best for you.

Please take a moment and review the information that follows. It overviews a number of special programs available through First Federal especially for First Time Home Buyers and the Low to Moderate income Borrower. Many programs are similar, but have slightly different guidelines.

One of the guidelines you will see mentioned in some of the programs is participation in a Home Buyers Seminar. These Seminars are held in many locations so you can choose the one most convenient for you. And even if the program you choose does not require participation in a Home Buyers seminar, we encourage you to attend one. The Seminars are extremely informative and helpful to the Home Buyer.

Whether you are a First Time Homebuyer, or just need to minimize your cash investment, First Federal has many programs to meet your needs including:

Conventional Loans offering low or no down payment requirements and relaxed underwriting guidelines for My Community Mortgage Loans.

FHA and VA Insured Loans

First Federal also offers Government Insured financing, which keeps your required investment to an absolute minimum. 100% percent of your down payment (if required) and closing costs dollars may come from a gift, government grant or an unsecured loan from a relative.


Affordable Home Loan Programs

Missouri Housing Development Commission (MHDC)

• First Place Home Loans
1. Cash Assistance Program (CAP) - 3% Grant which can be used for downpayment or closing cost.
2. No Cash Assistance Program (NCAP)

Kansas City Dream Program

Maximum Income Limits

Now that you have reviewed the many Programs that First Federal has to offer, take the next step and give us a call. At first Federal, we work hard to stay up to date on all the options that are available to you so we can assist you with any questions you have concerning these programs or other programs you may have heard about.

Call us today. We look forward to working with you to devise a plan that will help you become a homeowner.

Diana Johnson
Community Loan Representative
816-245-4173

MAXIMUM INCOME LIMITS
FIRST TIME HOMEBUYER PROGRAMS
(LISTED BY PROGRAM)

Non Targeted Area----------------- Targeted Area
Income------------------------- Income
1-2 persons $57,000------------------------- 1-2 persons $68,400
3+ persons $65,550 -------------------------3+ persons $79,800
Sales Price------------------------- Sales Price
New Const 237,000 --------------------------New Const $289,700
Existing $237,000--------------------------Existing $289,700

First Federal Bank F.S.B.
6900 N. Executive Drive
Kansas City, MO 64120

Diana Johnson
Community Loan Representative
816-245-4173
Fax: 816-245-4181