Not a Second Mortgage
Because Communities First is a Grant, not a Loan, there is no second mortgage on your home.
Additionally, because Communities First is a grant, there are no restrictions on reselling your home or refinancing your mortgage.
Based on Borrower Income
Income limits are based only on the borrower, not the household.
With a grant, the borrower receives instant equity in their new home.
2, 3, 4, or 5% Down Payment Assistance options allow homebuyer more flexibility to choose only what they need to keep interest rates low.
No paperwork for the lender, no TRID, and no documents to record or a second mortgage to sell to the servicer.