TruePath Mortgage (TCHFH Lending, Inc.)

TruePath Mortgage (TCHFH Lending, Inc.) is a first mortgage for homebuyers in Saint Paul, Minnesota, administered by TCHFH Lending, Inc. (Twin Cities Habitat for Humanity). TruePath Mortgage is a nonprofit CDFI affordable first-mortgage product from TCHFH Lending, Inc. (Twin Cities Habitat for Humanity) for low- and moderate-income first-time homebuyers across the 7-county Twin Cities metro. It features a 30-year fixed rate, no mortgage insurance, a housing payment capped at 30% of gross income, and a maximum mortgage of 96.5% of value, with down payment and affordability assistance available to fill the gap depending on income qualification and fund availability. Usable on Habitat-built or open-market homes. Affordable 30-year fixed first mortgage. No mortgage insurance. DPA/affordability assistance fills up to the 3.5% gap. Housing payment capped at 30% of gross income. Alternative credit accepted. Funding comes from TCHFH Lending, Inc. (nonprofit CDFI mortgage subsidiary).

TruePath Mortgage (TCHFH Lending, Inc.) is a first mortgage and is repaid under the terms set by TCHFH Lending, Inc. (Twin Cities Habitat for Humanity). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

TruePath Mortgage (TCHFH Lending, Inc.) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Must not have owned property in the past three years. On credit, the program states: Preferred 620; 580-620 or no-credit acceptable with alternative documentation. A homebuyer education course is required, through Twin Cities Habitat for Humanity Homeownership Program. Residency requirement: Currently live in the 7-county Twin Cities metro. Embeds optional down payment assistance within a CDFI first-mortgage product. Max $1,000 outstanding collections (medical excluded); 2 yrs since bankruptcy with 24 mo re-established credit; 3 yrs since foreclosure/short sale; no outstanding liens/judgments. Rate (5.25%) subject to change. NMLS #1482482. Max DTI: total debt <=13% beyond housing; housing <=30% of gross.

TruePath Mortgage (TCHFH Lending, Inc.) sets its income limit as follows: Must meet TCHFH income eligibility guidelines (7-county metro). The limit applies to total household income, not only the borrower&rsquo;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.

TruePath Mortgage (TCHFH Lending, Inc.) can be used for Single Family.

TruePath Mortgage (TCHFH Lending, Inc.) serves homebuyers purchasing in Saint Paul, Minnesota.

Applications for TruePath Mortgage (TCHFH Lending, Inc.) go through TCHFH Lending, Inc. (Twin Cities Habitat for Humanity), which publishes the current terms and the application steps on its own site. 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.