Mortgage Revenue Bonds

Mortgage Revenue Bond's (MRB) are tax-exempt government issued bonds with the help of Housing Finance agencies (HFA) to help first time home-buyers who have below-market rates mortgages. The eligible borrowers are first time home-buyers who have low income.

Advantages to borrowers

1. These bond programs work for low or moderate income people in combination with HFA's that offers down payment assistance and also secondary FHA financing for the borrowers.

2. Government's investment in MRB's help HFA's to help the borrowers to get the home ownership.

Program Requirements:

• The property must be your permanent residence and also owner-occupied.
• Condominiums must be agency approved
• Cost of the home must be below the maximum permissible cost for the county.