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Fulton Bank

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.

Homebuyer Advantage Plus® Mortgage

Developed for first-time homebuyers only,1 a Homebuyer Advantage Plus Mortgage starts with a low down payment and flexible credit requirements. Let us help guide you through the process.

  • 97% financing2
  • 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 advisor3
  • 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 class4 to qualify

HomeReady® Mortgage Plus

The HomeReady Mortgage Plus5 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 available2
    • 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 required4

Pennsylvania Housing Finance Agency (PHFA) Mortgages

PHFA issues bonds to support housing initiatives across the state of Pennsylvania. The advantage is a below-market interest rate for low to moderate income homebuyers.

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 purchase5

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

Contact A Mortgage Professional.

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