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Flagstar - Flagstar Gift Program

Flagstar - Flagstar Gift Program is a grant for homebuyers in Statewide, California.

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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - homebuyer training
  • Sourced via Homebuyer Wallet (US20250002). Must be first-time homebuyer. $1,000 borrower contribution required from personal funds. Available in: AZ, CA, CT, FL, IN, MI, NJ, NY, NC, OH, WI.

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

How to apply

  1. Take a homebuyer education course

    Required by the program, through Required - homebuyer training.

  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 homebuyer can take it to a lender or housing counselor.

Questions about this program

What is Flagstar - Flagstar Gift Program?

Flagstar - Flagstar Gift Program is a grant for homebuyers in Statewide, California. Grant program; no repayment. $3,500 per transaction in most eligible areas; up to $7,500 in AZ, CA, NJ, NY. Up to 3% of the purchase price (capped at $3,500 per transaction in most areas, $7,500 in AZ/CA/NJ/NY) provided as Grant for down payment and closing costs. Multi-state availability through Flagstar Bank. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Flagstar Bank.

Do you have to pay it back?

Flagstar - Flagstar Gift Program is structured as a grant, so it is not repaid. Repayment is triggered by none (grant). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Flagstar - Flagstar Gift Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Required - homebuyer training. Sourced via Homebuyer Wallet (US20250002). Must be first-time homebuyer. $1,000 borrower contribution required from personal funds. Available in: AZ, CA, CT, FL, IN, MI, NJ, NY, NC, OH, WI.

What are the income limits?

Flagstar - Flagstar Gift Program sets its income limit as follows: Per program guidelines (varies by area). 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?

Flagstar - Flagstar Gift Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Flagstar - Flagstar Gift Program is a nationwide program, so it is not limited to one state.

How do you apply?

Applications for Flagstar - Flagstar Gift Program go through the administering agency. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

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Whether two programs can be combined is up to each agency. Ask before you apply.

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Program terms are set by the administering agency and can change; confirm on the official site before you apply.