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Fairway Independent Mortgage Corporation HOPER's Incentive Program

Statewide, California

Last verified
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Repayment

Grant

Not repaid

What is Fairway Independent Mortgage Corporation HOPER's Incentive Program?

Fairway Independent Mortgage Corporation HOPER's Incentive Program is a grant for homebuyers in Statewide, California.

  • Lender credit/grant; targeted to underserved census tracts. Combined with Fairway first mortgage.
  • Lender credit / SPCP-targeted incentive for borrowers in eligible underserved census tracts. Closing-cost grant tied to Fairway-originated mortgages.
  • Funding comes from Fairway Independent Mortgage Corporation.

Do you have to pay it back?

Fairway Independent Mortgage Corporation HOPER's Incentive Program is structured as a grant, so it is not repaid.

  • Repayment is triggered by none (lender credit).
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Fairway Independent Mortgage Corporation HOPER's Incentive Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (MULTI250163). Available in select states (AZ, CA, FL, etc.). Property must be in qualifying SPCP/LMI census tract per Fairway guidelines. Must work with a Fairway loan officer.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Fairway Independent Mortgage Corporation HOPER's Incentive Program sets its income limit as follows: Per Fairway program guidelines (LMI tracts).

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Fairway Independent Mortgage Corporation HOPER's Incentive Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Fairway Independent Mortgage Corporation HOPER's Incentive Program serves buyers purchasing in Statewide, California.

  • The program targets specific areas: SPCP/LMI eligible census tracts.

How do you apply?

Applications for Fairway Independent Mortgage Corporation HOPER's Incentive Program go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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