Affordable Housing Program

Find your happy place—and pay less for it. Our team of friendly, experienced professionals has an affordable home loan option that is helping get more people into homes.¹

What Is the Affordable Housing Program​?

The Affordable Housing Program is a special mortgage option designed to make homeownership more attainable for individuals with low to moderate incomes.¹ With HOPE’s Affordable Housing Program, you can receive assistance toward your down payment and closing costs, helping to bridge the gap between renting and owning.

Who Qualifies for the Affordable Housing Program?

Eligibility for the Affordable Housing Program is based primarily on income and property guidelines. To qualify, you typically need to meet the following criteria:

• Have a minimum credit score of 580.
• The home you are purchasing must be your primary residence.
• You must complete an approved homebuyer education course, which helps prepare you for successful long-term homeownership.
• There are no income limits if you’re purchasing in designated target areas, and up to 120% of the area median income (AMI) is allowed in nontarget areas.

Benefits of the Program for Low- to Moderate-income Members

The Affordable Housing Program through HOPE is designed to help break down barriers to homeownership. Here’s how the program can work for you:

• 100% financing on homes up to $350,000 and 97% financing up to $425,000
• No private mortgage insurance (PMI), unlike many conventional loans
• Competitive fixed interest rates with predictable monthly payments
• Nontraditional and alternative credit accepted²

At HOPE, we believe your past shouldn’t limit your future. Our Affordable Housing Program was built to create real opportunities, providing financial tools, guidance, and support to help you succeed.

How to Apply for Hope Credit Union’s Affordable Housing Program

Getting started is easy. Contact the HOPE lending team and speak with one of our mortgage loan officers. Together, we’ll review your financial situation, discuss your eligibility, and help you complete your application.

You’ll also need to enroll in a homebuyer education course, which teaches essential skills like budgeting, understanding mortgage terms, and maintaining your home after purchase. HOPE can connect you with trusted providers who offer these courses, often free or at low cost.

Once your application is approved and you’ve completed your education course, you’ll be ready to find a home, with our team by your side every step of the way.

How to Buy a House with Low Income​

At HOPE, we know that buying a home on a low or moderate income can feel overwhelming, but we’re here to help make it happen. With the right support, resources, and a partner by your side, you can bring your dream of homeownership within reach. Through affordable mortgage options, down payment assistance, and personalized guidance, we’ve empowered thousands of individuals and families across the Deep South to break down financial barriers and build brighter futures. We’re ready to help you do the same.

¹Loans subject to approval.

² At least 3 lines of verified credit over 12 months.