Unlocking Your Dream Home: First Front Door & Keys to Equity Grants

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by

Matthew Pasciuta
in

Are you ready to take the leap into homeownership but worried about the upfront costs? Good news! There are two incredible programs designed to help first-time buyers like you unlock the door to their dream home—the First Front Door (FFD) grant and the Keys to Equity grant. These programs provide financial assistance for down payments and closing costs, making homeownership more accessible than ever. Let’s break them down!

What Are These Grants?

First Front Door (FFD) Grant

  • What is it? A program offering down payment and closing cost assistance to eligible first-time homebuyers.
  • How does it work? If you put in $1,500, you could receive up to a maximum grant of $15,000.

Keys to Equity Grant

  • What is it? Aimed at expanding homeownership opportunities for minority and first-generation first-time homebuyers.
  • How does it work? With a $1,000 contribution, you could receive up to the maximum grant of $20,000.

It’s like a BOGO deal but for your future home!

Who Qualifies?

For Both Programs:

  • First-Time Homebuyer: You haven’t owned a primary residence in the last three years.
  • Personal Contribution:
    • FFD: Minimum $1,500 toward down payment and closing costs.
    • Keys: Minimum $1,000 toward down payment and closing costs.
  • Income Limits:
    • FFD: Household income at or below 80% of the median income.
    • Keys: Household income at or below 120% of the area median income.
  • Homeownership Counseling: Complete at least four hours of counseling from an approved agency before purchasing.

Additional for Keys Program:

  • Identification: Must identify as a minority and/or first-generation homebuyer.

Think of it as assembling IKEA furniture—you need all the right pieces to make it work!

How to Apply

Applying is straightforward:

  1. Contact a Participating Lender: Both programs are offered through local lenders. Your first mortgage must be financed through a participating lender and I can connect you with one.
  2. Submit Application: Your lender will handle the application process on your behalf.
  3. Approval Process: The bank will review your application within 10 business days after the program opens. Once approved, you have six months to use the grant.
  4. Prepare: Complete your mortgage application, choose your home, and finish the required counseling.
  5. Purchase: Use the funds to assist with your down payment or closing costs.

It’s like following a recipe—just take it step by step, and you’ll have a delicious outcome!

Important Dates

Mark your calendars because these programs won’t last forever:

  • Keys Program: Opens on March 18, 2025.
  • FFD Program: Opens on April 22, 2025.

These funds can run out faster than concert tickets, so don’t procrastinate!

Take the Next Step!

Ready to unlock the door to your future home? Reach out to me today, and I’ll connect you with a local lender who specializes in these programs. Let’s turn the key to your new home together!

Your dream home is just a key turn away. Let’s make it happen!

Let me help connect you with a participating lender!

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