Federal Down Payment Assistance

Our Loan Programs

At Meridian Home Mortgage, we have have several loan programs to meet your needs. Choose from the following links to learn more:

Conventional Loans
FHA Loans
VA Loans
Jumbo Loans
USDA Loans

Federal Down Payment Assistance

HomePath

  • Borrowers who are eligible to receive a HomePath Mortgage may purchase a Fannie Mae-owned home
  • Low down payment and flexible terms
  • Minimum down payment of 3% can be funded through the borrower’s savings, a gift, a grant, or a secured loan
  • Sale prices below market value
  • No mortgage insurance
  • Appraisals are not required
  • Available for primary residence, second homes, investment properties, renovations, and purchase loans
  • Approved for use with conventional and FNMA mortgages

Good Neighbor Next Door (GNND)

  • Available to law enforcement officers, teachers, firefighters and emergency medical technicians
  • 50% discount off the list price for eligible properties
  • Property must be the borrower’s primary residence for at least 36 months
  • Approved for use with conventional, FHA and VA mortgages

HOME Investment Partner Program

  • Developed to provide affordable housing to low-income families
  • $2 billion annually distributed among participating jurisdictions
  • Total Household Income cannot exceed 80% of the Area Median Income
  • Some localities allow funds to be used as a down payment and closing cost assistance
  • This program allocate funds to states, counties and cities on a need-basis. Participation requirements may differ in the various jurisdictions

American Dream Down Payment Initiative (ADDI)

  • Provides funds to assist low-income families and first time homebuyers with down payment, closing costs and rehabilitation
  • Maximum loan of $10,000 or 6% of the purchase price (whichever is greater)
  • Total Household Income cannot exceed 80% of the Area Median Income
  • This program allocate funds to states, counties and cities on a need-basis. Participation requirements may differ in the various jurisdictions

Community Development Block Grant (CDBG)

  • Annually provides grants to 1209 locals governments and states based on a specific formula
  • Some localities allow funds to be used as a down payment and closing cost assistance
  • This program allocate funds to states, counties and cities on a need-basis. Participation requirements may differ in the various jurisdictions

Neighborhood Stabilization Program (NSP)

  • Annually provides grants to states and selected local governments based on a specific formula
  • Funds may be used for the purchase and/or redevelopment of foreclosed homes and residential properties
  • Total Household Income cannot exceed 120% of the Area Median Income
  • This program allocate funds to states, counties and cities on a need-basis. Participation requirements may differ in the various jurisdictions

See more information about our State down payment assistance programs and Local down payment assistance programs.