Project Reinvest Down Payment Assistance (NeighborWorks Pocatello)

What is Project Reinvest Down Payment Assistance (NeighborWorks Pocatello)?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) is a deferred second loan for homebuyers in Pocatello, Idaho, administered by NeighborWorks Pocatello (Pocatello Neighborhood Housing Services, Inc.).

• Project Reinvest is a down payment assistance program administered by NeighborWorks Pocatello that provides $10,500 in down payment assistance to eligible homebuyers whose income does not exceed 100% of AMI. Buyers must complete an 8-hour homebuyer education course within 12 months of closing, occupy the home as their primary residence, and obtain a first mortgage from an approved Project Reinvest lender.
• $10,500 in down payment assistance.
• Available to repeat buyers (not FTHB-restricted).
• 100% AMI income limit.
• Pairs with approved first mortgages.
• Funding comes from Project Reinvest (NeighborWorks America / National Community Stabilization Trust down payment funds).

How much assistance does it provide?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) offers up to $10,500 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — NeighborWorks Pocatello (Pocatello Neighborhood Housing Services, Inc.) determines any individual award.

Do you have to pay it back?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) limits household income to 100% of the area median income, which varies by county and household size.

• Household income, adjusted for household size, not to exceed 100% of Area Median Income.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) serves buyers purchasing in Pocatello, Idaho.

How do you apply?

Applications for Project Reinvest Down Payment Assistance (NeighborWorks Pocatello) go through NeighborWorks Pocatello (Pocatello Neighborhood Housing Services, Inc.), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through 8-hour Homebuyer Education Course (completed within 12 months of closing); NeighborWorks Pocatello..

2. 2

   Contact NeighborWorks Pocatello (Pocatello Neighborhood Housing Services, Inc.) to reserve funds

   Funds are reserved through First-come, first-served while funds last., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.