Income-Based Programs

If you’re a first-time homebuyer, or have a low to moderate income, we may be able to make the dream of homeownership possible. The professionals at Fulton Mortgage Company offer a range of special mortgage programs to fit your needs. Contact a mortgage professional to discuss your options.

Fulton Bank Community Combo

This special program is a flexible, affordable option designed to meet a diverse range of financial and family needs─including home buyers who have limited funds for a down payment or face unique circumstances. 

• 80% first mortgage combined with up to a 20% second mortgage. (Matching rate and terms for both mortgages.)
• Competitive rates
• No private mortgage insurance (PMI) required
• You do not need to be a first time homebuyer
• Homeownership counseling is required¹
• Income restrictions may apply²

HomeReady^® Mortgage Plus

The HomeReady Mortgage Plus³ can help potential homebuyers who can't afford a large down payment or who face unique circumstances. It’s a flexible, affordable option designed to meet a diverse range of financial and family needs.

• Up to 97% financing available⁴
  • Income flexibilities may help you qualify. Boarder or rental income may be included in your qualifying income amount.
• No Private Mortgage Insurance (PMI)
• You do not need to be a first-time homebuyer
• Co-borrowers on a HomeReady Mortgage Plus are not required to live in the home, so relatives or other individuals may assist you with your home purchase
• Homeownership counseling is required¹

Homebuyer Advantage Plus^® Mortgage

A Homebuyer Advantage Plus Mortgage starts with a low down payment and flexible credit requirements. Let us help guide you through the process.

• 97% financing⁴
• No Private Mortgage Insurance (PMI) is required
• Up to 6% seller assistance allowed
• Can be used in conjunction with other closing cost and down payment assistance programs
• Household income restrictions may apply
• Income limit waiver if property to be purchased is located in a Low-to-Moderate Income (LMI) area

Closing Cost Assistance Program (CCAP)

Fulton Financial Corporation, through Fulton Mortgage Company, has partnered with Operation HOPE, to establish a closing cost assistance program to make homeownership more accessible to individuals and families. 

• Available to be used in conjunction with mortgages on a primary residence that have a loan-to-value ratio of 95% or higher 
• Eligible borrowers can receive up to $2,500 toward their closing costs through CCAP - consult your tax advisor⁵
• Borrowers meeting the qualifying income limits may receive up to $1,000 to be used towards down payment and/or closing costs, depending on the loan program and income eligibility
• Borrowers meeting the qualifying income limits and who are purchasing in a low to moderate income area (as identified by the Federal Financial Institutions Examination Council (FFIEC)) may receive up to an additional $1,500 for down payment and/or closing costs, depending on the loan program 
• All occupying borrowers must attend a housing counseling class¹ to qualify

State Bond Programs

Many states issue bonds to support housing initiatives, offering a below-market interest rate for low to moderate income homebuyers. Contact a loan officer to learn more.

First Front Door Program

As a first-time homebuyer, you could qualify for a grant up to $5,000 to help with a down payment and closing costs. Federal Home Loan Bank of Pittsburgh will match a qualified homebuyer’s contribution 3-to-1.  For every $1 you contribute, you can receive $3 in grant assistance up to $5,000. To qualify, you:

• Must not have owned a home in the past 3 years
• Need a household income at or below 80% of the area median income
• Cannot be a student working less than 30 hours a week
• Must retain the home for 5 years to avoid having to repay any portion of the grant
• Need to complete at least 4 hours of homeownership counseling prior to home purchase³

Rural Housing Service Programs

Established in 1991 by the US Department of Agriculture (USDA), rural housing service programs are designed to help medium income Americans buy a home in rural and suburban communities.  100% financing² is available and seller may pay all settlement costs. To qualify:

• The property must be in an eligible rural area
• You must occupy the home as a primary residence