Frequently Asked Questions
Are there approved occupations?
No!! Our programs are available to any occupation, including self-employed and retired borrowers.
Is it 100% financing?
Yes, all of our available assistance programs offer the minimum down payment needed to purchase a home.
Does the assistance need to be paid back?
With most of our programs the assistance will need to be paid back. But, not until the house is sold or refinanced in the future. We also have programs where the assistance is forgiven at the closing of your home.
Do I need to be a first time home-buyer (FTHB)?
No! If you have owned a home in the last 3 years we do offer programs which allows past home ownership.
(Active military and veterans are exempt from the 3 year requirement.)
Is there a credit score minimum or an income limit?
Each assistance program has their own income limits and credit score limits. We even have programs with no income limits. The minimum credit score requirements range from 600 up to 640.
If you are concerned about your credit score or income, contact us to address any of your concerns.
How do I apply?
The whole loan process from initial pre-qualification, application, and the processing of your loan is handled by your Island Mortgage loan advisor. We will walk you through the process from start to finish!
Click the link below and start the process today by filling out our eligibility information form!
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Discover available down payment assistance programs and mortgage solutions designed to help make homeownership more affordable and accessible for you.