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State Housing & Community Development Loans

Need financial assistance when it comes to your home purchase?

GVC Mortgage partners with various state agencies to connect qualified borrowers with financing resources they need to become homeowners. These agencies offer various tools like down payment assistance, homebuyer education, and interest-rate specific programs. Typically, state housing and community development programs are designed for borrowers meeting specific requirements like being a first-time homebuyer, meeting lower income thresholds, and purchasing in specific geographical areas.

Begin your State Housing & Community Development Loan journey today.

What are the benefits of a State Housing & Community Development Loan?

01.

Down Payment Assistance

Depending on the state you are purchasing in, you could receive down payment assistance up to 6%. Every state has unique programs designed for different borrowers.

02.

Grant Assistance

Select states offer grant programs to offset the costs associated with purchasing a home. These grants can typically be used towards down payment assistance or closing costs.

03.

Tax Credits

In some cases, states may offer a Mortgage Tax Credit to be applied towards a portion of mortgage interest paid. The size of the tax credit is typically based on location, property, and type of mortgage.

State Housing & Community Development Loans in just 3 easy steps.

Not sure where to start when it comes to your State Housing and Community Development Loan? Don’t worry – we have you covered! Keep scrolling to see the steps ahead of you.

Step 1

Get pre-approved

Our mobile app, Mortgage Express, helps you get pre-approved quickly. It’s secure and you can upload all required documents straight into the app to save you time and energy.

Step 2

Talk to a Mortgage Consultant

Your GVC Mortgage Consultant will keep you and your agent updated every step of the way with our Milestone Updates.

Step 3

Close on your loan

Your Mortgage Consultant will assist you with everything you need and help you setup your closing appointment.

State Housing & Community Development Loans

Frequently asked questions about State Housing & Community Development Loans.

How much do I need for a State Housing & Community Development Loan down payment?
Your down payment will partially depend on your credit score and the loan program you qualify for. Every state has their own set of requirements. Further, each state offers multiple programs. To learn more about your down payment options, contact a Mortgage Consultant.
What are the State Housing & Community Development Loan limits?
The maximum and minimum loan limits vary according to the program you qualify for and your credit score. To learn more about the limits in your area, contact a Mortgage Consultant.
What are the credit score qualifications for State Housing & Community Development Loans?
Credit score requirements will be dependent on the program you qualify for and the state you are purchasing in. To learn more about the credit score requirements for State Housing & Community Development Loans, contact a local Mortgage Consultant.
Do I have to pay mortgage insurance with a State Housing & Community Development Loan?
If your down payment is less than 20%, you’ll be required to pay mortgage insurance. More information about your mortgage insurance will be provided to you from your Mortgage Consultant as you progress through the process.