First Time Homebuyer - New Home Initiative

Soon available in all states from FundMyHome

FundMyHome in collaboration with the USDA First Time Homebuyer Program does "NOT" use traditional bank funding offering more advantages underwriting resulting in a higher approval rate enhancing the opportunity of new construction homeownership for more moderate income to slightly higher-end lower-income persons and families.

USDA 1st Time Homebuyer - New Home Initiative Program is available in all states.   

  • A first-time homebuyer is a person that has "NOT" participated as a homeowner in the past 36 months.
  • The USDA first-time homebuyer program targets homebuyers outside of high density metropolitan areas.  
  • Fulfill your dream of homeownership with a newly built home up to 2,000 total sq ft of living area on a lot of your choice in a USDA approved area in collaboration with FMH. (approx 95% of land in the USA is in a USDA approved area).

3 easy steps to becoming a homebuyer with FMH.

  1. Browse USDA approved lots and home plans available from FMH.
  2. Get approved and receive a "certificate of eligibility" amount with a FMH Associate.
  3. Choose the home plan that fits your approved certificate of eligibility amount. 

Many home designs to build on your chosen lot.

  • FMH provides 200+ home plans to choose from (up to 20 plans with 3 amenities levels to comply with social, economic and weather requirements per geographic location).
  • FMH intends to provide fully furnished homes to buyers soon after the program is released to the buying public and realtors.     
  • No restrictions on lot size (however approved lot may "Not" be subdividable).  
  • A buyer owned lot with or without a mortgage can qualify towards a down payment (if in USDA area).

Homebuyer Advantages with FMH program.   

  • The interest rate is 2.75% or less (based on current market).  
  • Loan periods of 33 to 38 years.  
  • No minimum credit score. (scores above 640 receive streamlined approvals).  
  • Financial reserves are not required for USDA approval.  
  • No lender bank involvement (wholesale financing).  
  • 2nd or 1st liens available to 50% of value to FMH (for purchase of home value exceeding individuals qualification amount)  
  • Minimal down payment amount up to $4,000 (some could close with as little as $1,500)   
  • "One closing" on a qualified lot (lot and home build are closed together at the lot closing).  
  • Purchaser receives full title to the property at closing.     
  • No mortgage insurance requirement (allowing for a higher buyer purchasing power).
  • Improvements will be included in the mortgage amount (such as landscaping, utilities or a well, etc).
  • First-year home property insurance cost and appraisal fee will be reimbursed to the buyer at closing.

Tidbits to know.

  • FMH is the builder/seller
  • FMH will provide a title company or any title company can be used.  
  • The homebuyer supplies the current "initial" credit report from a source such as "" for onboarding with FMH  (USDA will pull a full credit report before final approval).
  • Typical buyer out-of-pocket costs include: down payment, *appraisal fee, *1 yr prepaid homeowner insurance policy (*can be reimbursed at closing).    
  • Once a loan package has been assembled by the buyer with the directive of a certified FMH associate and onboarding completed with FMH, USDA will offer buyer approval or disapproval in approx 15 days (when approved a closing date will be scheduled).  
  • A buyer should plan for 2 to 3 months of home payments in reserve to cover build time as the first payment will become due 30 days after closing.
  • The FMH program could allow higher-income persons with unusual financial circumstances to possibly qualify for this program (please inquire).

Contact me and learn how this program will benefit you today.

Rick Roach / FMH Associate.

Realtor Opportunities

 1) Licensed buyer realtor will be paid commission for each new home he/she closed in state(s) you hold a realtor license.

 2) Become a certified FMH associate and earn the associate marketing fee for initiating a buyer contract. (optional)

 3) Offer our associate opportunity and receive associate override marketing fees.  (optional)