George Mason Mortgage’s
Welcome Home Grant
Down Payment & Closing Cost Assistance
Don’t let the potential hurdle of not having enough funds for a down payment or closing costs stop you from achieving your dreams of homeownership! GMM’s Welcome Home Grant1 may be the perfect match for you.
Up To $10,000 for Down Payment & Closing Costs
- Grant has no lien required on the property
- Primary residence
- This program is only available in select market areas
- Available for purchases and eligible refinances
- Gift funds can be used
- Household income limits apply
- Homeownership counseling certificate required prior to closing if a First Time Homebuyer
- Can be used in conjunction with other down payment assistance
- Fixed and Adjustable Rate financing options available
- No Mortgage Insurance required
GMM is a purpose-driven mortgage company that puts families and communities first. We are dedicated to supporting and investing in every neighborhood across our footprint, especially diverse communities, to advance equity and equality.
For more information about our GMM Grants visit here
1.Subject to Credit Approval. Not all applicants are eligible. Welcome Home Grant is a Lender Grant and is only available in select market areas. No cash back for the Grant funds allowed. Loan must be for purchase or eligible refinance of primary residence. For Purchase transactions, Grant is capped at $10,000, with up to 3% of sales price or appraised value (whichever is less) applied towards down payment first and then any remaining funds applied to closing costs. For eligible Refinance transactions, up to 3% of appraised value, with a maximum of $10,000 will be applied towards closing costs. Property type and location limitations apply. Loan terms and conditions apply, including but not limited to, maximum loan-to-value of 97%, maximum loan amount, minimum credit score, and maximum income limits. Homebuyer education may be required. Grant program may be considered taxable income. 1099-MISC may be issued. You should consult with your tax advisor. Program rates, terms, and conditions are subject to change without notice.
Features of GMM’s Welcome Home Grant: