TruePath Mortgage (TCHFH Lending, Inc.)

What is 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).

How much assistance does it provide?

TruePath Mortgage (TCHFH Lending, Inc.) provides assistance worth 3.5% of the purchase price, as set by the program.

• The program asks buyers to contribute $3,000 borrower contribution toward closing costs (excludes optional owner's title insurance); $6,300 in savings required.
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — TCHFH Lending, Inc. (Twin Cities Habitat for Humanity) determines any individual award.

Do you have to pay it back?

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.

Who qualifies?

TruePath Mortgage (TCHFH Lending, Inc.) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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’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?

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

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Twin Cities Habitat for Humanity Homeownership Program..

2. 2

   Contact TCHFH Lending, Inc. (Twin Cities Habitat for Humanity) to reserve funds

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

3. 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.