First Home Mortgage Corporation Launches First Home's Dream Program to Provide Down Payment Assistance to Homebuyers

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May 09, 2023, 09:37 ET

Leading Mortgage Lender Continues Efforts to Support Affordable Housing and Homeownership Assistance

BALTIMORE, May 9, 2023 /PRNewswire/ -- First Home Mortgage Corporation, a leading provider of residential mortgage loans, has announced today the launch of its latest homebuying support initiative, First Home's Dream Program, designed to assist low to moderate income homebuyers with down payment assistance on conventional 30-year mortgages. This new initiative aims to make homeownership more affordable, especially for those who are struggling to save enough money for a down payment in today's competitive housing market.

Through the First Home's Dream Program, eligible homebuyers can receive $3,000 in down payment assistance to help cover some of the upfront costs associated with purchasing a home. To qualify, applicants' income levels must be at or below 80 percent of the area median income (AMI), which is the median household income of that region. The program is open to everyone, but could be especially attractive to first-time homebuyers.

"We understand that for many prospective homebuyers – especially those seeking to purchase their first home – coming up with a down payment can be one of the biggest barriers to homeownership," said Steve Lagana, President of First Home Mortgage. "First Home's Dream Program is just one of the many ways we're working to make the dream of homeownership a reality for more buyers looking to enter the market. We are committed to supporting our local communities, and this program is a major step towards that goal."

In addition to the First Home's Dream Program, the company has recently launched two other initiatives aimed at helping homebuyers achieve their dreams. The First Home Advantage program offers discounted rates to qualifying first-time homebuyers, while the First Home Heroes program offers savings in the form of fee reductions to healthcare workers, first responders, educators, and other community service heroes.

"At First Home Mortgage, we believe in the values of community, trust, and commitment," added Lagana. "Our new First Home's Dream Program is a further demonstration of our commitment to these values, and our ongoing efforts to make homeownership more affordable and accessible to everyone."

About First Home Mortgage

First Home Mortgage is a licensed, full service, residential lender, with a deep bench of dedicated loan officers who guide borrowers throughout the entire mortgage process and offer continued support long after a loan has closed. We are committed to delivering exceptional customer service that not only fulfills goals but exceeds expectations.

Founded in 1990 with two offices and a handful of employees, First Home Mortgage has since grown into a financial institution of 31 offices serving 21 states in the Northeastern, Mid-Atlantic, and Southern regions. First Home Mortgage was recognized by the Scotsman Guide in 2022 as a top 50 lender nationally by total volume.

For more information and company news visit firsthome.com/about-us

SOURCE First Home Mortgage