Down Payment and Purchase Assistance Loans
We offer loans for home purchase or refinance, including:
- Purchase loans for first-time homebuyers
- Purchase loans with home rehabilitation
- Refinance loans
- Refinance/debt consolidation loans
- Refinance/home rehabilitation loans
We offer a variety of mortgage products to meet your needs
Our fixed-rate mortgage options give you a competitive, stable interest rate so you will never be faced with sudden rate adjustments and rising monthly payments. And there are NO excessive fees or penalties. We offer:
- Flexible downpayment requirements: You may need as little as $500 for a downpayment.
- Flexible credit guidelines: Even if you don't have an established credit history, you can still qualify if you can show that you pay your rent, utilities, and other bills on time.
- Flexible income source requirements: You can use non-traditional sources of income, such as rental payments from boarders or income from government benefits, to meet income guidelines.
For more information about AHC Mortgage Services, contact
Jimmie Jones, AHC Mortgage Services Manager, 703-486-0626 ext. 124
Low-interest downpayment and purchase assistance loans
The Moderate Income Purchase Assistance Program (MIPAP) is offered to low- and moderate-income Arlington residents in conjunction with Arlington County. The program offers homebuyers loans up to 25 percent of the home's sale price or $90,700 (whichever is lower) for downpayment and closing costs.
In July 2009, HUD approved pairing MIPAP loans with FHA mortgages, providing more flexibility for borrowers who are interested in using both tools. Click here for more information on the Moderate Income Assistance Purchase Program (MIPAP) or contact Jimmie Jones, 703-486-0626 ext. 124.
To learn more about Arlington County's homeownership programs for low-income residents, click here.