Nodaway Valley Bank is participating in a special grant through the Federal Home Loan Bank of Des Moines to help first-time homebuyers in Buchanan, Andrew, Nodaway, Holt, DeKalb counties, as well as Doniphan County, Kansas, with funds for down payment and closing costs.
The HomeStart program assists qualifying first-time home buyers earning up to 80% of the area median income for the location of the residence being purchased.
HomeStart participants may receive up to $15,000 in grant funds toward a down payment and closing costs to purchase a single family home for a primary residence. HomeStart recipients must qualify for mortgage financing with an investor and complete an online home buyer education class.
Potential first-time home must apply and submit certain required documents online at nvb.com for a pre-approval to purchase a home.
Contracts must provide a 45 – 60 day closing window due to the additional time required for approval for use of the grant funds. New funds for the grant will be available April 1, 2024 and are subject to availability.
“These grants complement other special first-time home buyer programs we offer which require as little as 3% down,” commented residential loan officer, Lisa Little. “We take great pleasure in helping people achieve the dream of owning their own home.”
Nodaway Valley Bank is an Equal Housing Lender.
