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Loans Offered by NHS
Home Purchase Loans
Also known as Tu Hogar, this loan program helps individuals lacking a credit history to apply for a mortgage.
Types of Home Purchase Loans
See requirements
BOOST/Alternate Credit Loan
BOOST loan is a home purchase loan that assists individuals without traditional credit history in qualifying for a mortgage.
Eligibility:
With this loan you could borrow up to $75,000 for the purchase of a primary single family residence. The borrower must:
- - Occupy the property as a primary residence and cannot own another property
- - Purchase the property in Baltimore City.
- - Obtain a Housing Counseling certificate from a HUD-Approved counseling agency and have obtained 8 hours of homebuyer education
For more information contact us at:
Requirements:
LOANS
Fixed rate up to $75,000
$5K of the $75K can be set aside or repairs
Repayment Time
15 years
Interest Rate
8%
Purchase Price Limit
No limit
Maximum CLTV
105%
Credit Score
640 minimum score or alternate credit: 12 months of on-time rent & two other trade lines showing 12 months of on-time payment
Escrow
Homeowner’s insurance required
Escrow of taxes and insurance required
See requirements
The Tu Hogar program
The Tu Hogar program is a home purchase loan that assists individuals without traditional credit history in qualifying for a mortgage. For more information please visit our partners at Southeast CDC or the Latino Economic Development Corporation.