The Community Homeownership Incentive Program (CHIP) is a special homeowner program provided exclusively by BB&T of Tallahassee.
The program features include:
- 3% Down payment
- ***No Mortgage Insurance***
- 100% Area Median Income Limits – $64,000
(Leon, Gadsden, Wakulla and Jefferson counties)
- Borrower(s) Income of loan application is used – NOT household income
- Borrowers(s) cannot own another home. Present home must be sold prior to closing on new home.
- Minimum credit score 620 on Single Family home
- Minium credit score 660 on Manufactured home
- Seller can pay ALL of buyers closing cost