Homebuyers Dream Program

Specially designed for families that have received approval for Down Payment Assistance from an approved city or county program.

One of the primary barriers to homeownership for first-time home buyers is saving money for the down payment and closing costs. To assist with this gap seen in our assessment area, Piedmont Federal is offering a product that is specially designed for low-to-moderate income families that have received approval for down payment assistance from an approved city/county program. The Homebuyer Dream Program also provides closing cost assistance to credit worthy first-time homebuyers making less than 80% of the median income based on the designated Bank’s Assessment area.

Each applicant is required to receive home buyer education and counseling, before and after the mortgage purchase, to acquire the knowledge and confidence needed to navigate the home buying process and become successful homeowners.

Homebuyers Dream Program Features

  • Designed for first-time homebuyers. Loan requests must align with HUD limits for existing and new construction. Or 90% of the sales price whichever is less.
  • No loan origination fee.
  • Appraisal fee refunded at loan closing.
  • An affordable monthly payment with our competitive interest rate could mean a monthly payment lower than your current rent.
  • Private Mortgage Insurance Waived.
  • Use “non-traditional” credit sources such as proof of timely rent payments, utility payments and other monthly obligations to compensate for a lack of credit history.

Loan requirements:

  • Must be a primary residence and not owned a home in the previous three years.
  • Single-family detached and attached (manufactured housing, mobile homes and a-typical homes are not eligible). Areas of Service »
  • 30 year fixed rate term only.
  • A minimum of $1000 or 1% must come directly from the buyer and Down Payment Assistance may not exceed guilelines set forth by the approved city/county program.
  • Pre-Purchase and Post-Purchase Education is required per guidelines set forth by approved city/county program.
  • Most recent tax returns required to determine income eligibility.
  • Mortgage payment must be drafted from a Piedmont Federal Deposit Account for which you automatically qualify.
  • Loan Approval subject to standard underwriting guidelines


We have enhanced mortgage product offerings to provide you with a comprehensive range of solutions, ensuring a customized approach to meet your specific lending needs. More reasons »


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