Homebuyer Assistance Program

Homebuyer Assistance Program هو قرض قابل للإعفاء لمشتري المنازل في Covington، Kentucky. HUD HOME-funded forgivable second mortgage administered by City of Covington Neighborhood Services Department for the Northern Kentucky HOME Consortium (Covington, Ludlow, Erlanger, Independence, Florence, Newport, Bellevue, Dayton). Up to $10,000 at 0% interest, deferred with no monthly payment, forgiven 1/10 per year over 10 years. 80% AMI ceiling, $20K liquid asset limit, 31/43 DTI, HUD-approved counseling required. Adopted 7/15/2025 (ORD-195-2025). The Homebuyer Assistance Program (HAP) is a HUD HOME-funded zero-interest, deferred / forgivable loan administered by the City of Covington Neighborhood Services Department on behalf of the Northern Kentucky HOME Consortium (Covington, Ludlow, Erlanger, Independence, Florence, Newport, Bellevue, Dayton). Eligible buyers receive up to $10,000 toward lender-required down payment, customary closing costs, settlement charges, or to buy down the first-mortgage interest rate. The loan accrues no interest and requires no monthly payments. it is forgiven 1/10 per year over 10 years, becoming a full grant if the borrower owner-occupies the home for the entire 10-year period. Recapture (limited to net proceeds) is triggered only on sale, transfer, or non-owner-occupancy before the 10-year anniversary. يأتي التمويل من Federal، HOME وCity.

يُعفى من Homebuyer Assistance Program بعد 10 سنوات، لذا فإن مشتري المنزل الذي يبقى طوال هذه المدة لا يسدده. يُستحق السداد عند Forgiven 1/10 per year of owner-occupancy over 10 years (becomes a grant at year 10). If property is sold, transferred, or vacated before 10 years, the unforgiven balance becomes immediately due and payable, limited to net proceeds (sales price - superior loan repayment - seller closing costs). تُسجَّل المساعدة في مرتبة الرهن: 2nd Lien. يحدد البرنامج شروط الإعفاء والسداد وقد تتغير؛ تحقّق منها في الصفحة الرسمية للبرنامج قبل التقديم.

Homebuyer Assistance Program مفتوح أمام مشتري المنازل الذين سيسكنون المنزل كمسكن رئيسي. بشأن الائتمان، ينص البرنامج على: No specific city-imposed minimum FICO; first-mortgage lender overlays apply, plus credit history review by City staff. يلزم إكمال دورة لمشتري المنازل، عبر HUD-approved housing counseling agency required (HUD-certified counselor; certificate of completion before closing). Local HUD-approved providers in Northern Kentucky: Catholic Charities Diocese of Covington (859-581-8974), Northern KY Community Action Commission (859-581-6607), Brighton Center in Newport (859-491-8303). Also Housing Opportunities of Northern Kentucky (HONK) at 859-581-4665. شرط الإقامة: Property must be located within the Northern Kentucky HOME Consortium boundaries: Covington, Ludlow, Erlanger, Independence, Florence, Newport, Bellevue, or Dayton. Must be borrower's primary residence within 60 days of purchase and remain so for the 10-year loan term. الجنسية أو وضع الهجرة: Per HUD HOME federal eligibility - U.S. citizen or qualifying non-citizen. Household income at or below 80% AMI per HUD (2025 limits: $62,650 (1p) - $71,600 (2p) - $80,550 (3p) - $89,450 (4p) - $96,650 (5p) - $103,800 (6p) - $110,950 (7p) - $118,100 (8p)). Maximum DTI 31% front-end / 43% back-end (KHC HAP underwriting overlay). Liquid asset limit $20,000 (excess must be applied to purchase before HAP funds). HUD-approved housing counseling required (certificate of completion before closing). Property must be owner-occupied or vacant 1- or 2-unit dwelling within Covington / Ludlow / Erlanger / Independence / Florence / Newport / Bellevue / Dayton city limits. First-mortgage product cannot be subprime (rate <= Freddie PMMS + 2.5%). Property must meet NSPIRE inspection standards. Pre-1978 homes must pass HUD Lead Safe Housing Rule lead-paint inspection. Borrower must have fee simple title; private contract / land contract purchases not eligible. Maximum purchase price/appraised-value-after-rehab varies by county and unit count: Campbell/Kenton (existing) $228,000 1u / $292,000 2u; Boone (existing) $268,000 1u / $343,000 2u; Campbell/Kenton (new construction) $326,000 1u / $417,000 2u; Boone (new construction) $338,000 1u / $433,000 2u. Borrower must occupy within 60 days of purchase. Apply online at portal.neighborlysoftware.com/COVINGTONKY/participant.

يحدد Homebuyer Assistance Program دخل الأسرة بما لا يتجاوز 80% من الدخل الوسيط في المنطقة، وهو يختلف بحسب المقاطعة وحجم الأسرة. Household income at or below 80% AMI per HUD HOME limits for the Northern Kentucky HOME Consortium (Cincinnati MSA / Boone-Campbell-Kenton). 2025 limits range $62,650 (1-person) to $118,100 (8-person). Seed-cited range $58,700-$110,700 reflects an earlier program-year HUD limit table. Part 5 income definition; tax returns not used for income determination but used for verification. ينطبق الحد على إجمالي دخل الأسرة، وليس على دخل المقترض وحده. يذكر البرنامج حدًا أقصى لحجم الأسرة قدره 8. تنشر HUD أرقام الدخل الوسيط في المنطقة وتحدّثها سنويًا، لذا راجع الجدول الحالي للمقاطعة قبل الاعتماد على أي رقم.

يضع Homebuyer Assistance Program حدًا أقصى لسعر الشراء قدره $433,000. تشمل أنواع العقارات المؤهلة Owner-occupied or vacant 1- or 2-unit dwellings (2-unit must have been originally constructed for two units). Single-family detached, condominium, townhouse, manufactured home on permanent foundation (post-6/15/1976 must meet 24 CFR 3280 وpre-6/15/1976 must comply with city codes). Properties currently occupied by tenants are not eligible. المنازل حديثة البناء مؤهلة. المنازل الجاهزة (المصنّعة) مؤهلة.

يذكر Homebuyer Assistance Program المحاربين القدامى، أفراد الخدمة العسكرية العاملين، جنود الاحتياط وأفراد الحرس الوطني، الأزواج والزوجات الباقين على قيد الحياة ومشتري المنازل من ذوي الإعاقة ضمن الفئات التي يخدمها. ذِكر فئة هنا يعني أن البرنامج يذكرها، لا أن الانتماء إليها وحده يجعل المتقدم مستوفيًا للشروط؛ إذ تظل بقية قواعد الأهلية سارية.

يخدم Homebuyer Assistance Program مشتري المنازل الذين يشترون في Covington، Kentucky.

تُقدَّم طلبات Homebuyer Assistance Program عبر الجهة المسؤولة عن إدارة البرنامج، التي تنشر الشروط الحالية وخطوات التقديم على موقعها. تُحجز الأموال عبر Online application via Neighborly Software portal at portal.neighborlysoftware.com/COVINGTONKY/participant. Apply any time, but funds reserved only with submission of a fully accepted purchase contract. First-come, first-served subject to annual HOME allocation. Hey Prescott ليست جهة إقراض ولا تقبل الطلبات؛ تصف هذه الصفحة البرنامج ليتمكن مشتري المنزل من عرضه على جهة إقراض أو مستشار إسكان.