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) Secured

Fulton Mortgage Company is assisting eligible homebuyers to secure a new home with no interest/no monthly payment program offering. Primary program assistance amounts are up to $5,000 based on purchase property location and qualifying homebuyer income. Assistance may be used for down payment and closing costs. 

• Must be used toward the purchase of a primary residence.
• May only be used with compatible first mortgage products.
• CCAP secured may be used with other down payments and closing cost assistance programs. 

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 purchasing a primary residence, you could qualify for a grant up to $15,000 to help with a down payment and closing costs. The First Front Door (FFD) program is offered through participating Federal Home Loan Bank of Pittsburgh (FHLB) members that provide first- mortgage financing. Eligible homebuyers contributing a minimum of $1,500 toward down payment and closing costs may be eligible for a maximum FFD grant of $15,000.

To qualify, you:

• Must not have owned a home in the past 3 years
• Need to contribute personal funds as part of the down payment and closing costs
• Have a household income at or below 80% of the area median income
• 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% financing^{2, 6} 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