HomeChoice is a single-family loan product designed to help meet the homeownership needs of people who have disabilities or people who have a family member with a disability living with them. Some of these needs could include buying a new home, repairing or modifying a new home, repairing or modifying an existing home, or refinancing an existing home.

HomeChoice is different from other mortgage loans because it is designed specifically for people with disabilities. Benefits to borrowers include:

• Lower down payment requirements
• Qualifying and underwriting standards that take higher than average debt-to-income and housing ratios into account
• Use of non-traditional credit histories
• Support from HomeChoice agencies to help you become a successful homeowner

Eligibility

• Participants must have a disability, or have a family member living with them who has a disability, as defined by the Americans with Disabilities Act of 1990, or as defined by the Fair Housing Amendment Acts of 1998.
• Participants generally must not exceed 100% of median family income as determined for their geographic area.
• Participants must have income to support a mortgage payment and must be able to qualify for a mortgage.
• The property must be a single-family, owner-occupied property.

Coalition members assist borrowers in accessing mortgage financing and in meeting the demands of purchasing and owning a home. This includes:

• Pre-purchase homebuyer education
• Post-purchase support
• Assistance with applying for a mortgage
• Help with locating grants and second mortgages to assist borrowers with down payments, closing costs, accessibility modifications, and property repairs
• Budget management and other support services

Lenders can print out a client intake form by clicking here.

For additional information, contact any of these HomeChoice Coalition Partnering Agencies: