Topeka Opportunity To Own (TOTO) Program

Topeka Opportunity To Own (TOTO) Program is a forgivable loan for homebuyers in Topeka, Kansas. Topeka's flagship FTHB program: $5,000 DPA + up to $30,000 rehab assistance, structured as a 0% interest soft second forgivable over 5 years. $75,000 maximum sales price targets older, affordable, often distressed properties needing rehab. $500 borrower contribution. 80% AMI. Mandatory 12-hour HCCI training. Topeka city limits only. Topeka Opportunity To Own (TOTO) is the City of Topeka's federally-funded (HUD HOME / CDBG) first-time homebuyer assistance program for low-income Topeka residents. Buyers receive up to $5,000 toward down payment and closing costs PLUS up to $30,000 in rehabilitation assistance for needed property repairs - structured as a soft second mortgage forgivable over 5 years. The combination is why the program imposes an unusually low $75,000 maximum sales price - the program targets older, affordable, often distressed Topeka housing stock that requires rehab. Borrower needs only $500 out-of-pocket for the down payment. Funding comes from Federal, HOME, CDBG, and City.

Topeka Opportunity To Own (TOTO) Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Soft second forgiven over 5 years if owner-occupied and due in full on sale, refinance, transfer, or non-owner-occupancy before 5-year anniversary. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Topeka Opportunity To Own (TOTO) Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Cannot own real estate at time of closing; no published exceptions for displaced homemakers etc. On credit, the program states: No published minimum FICO; lender first-mortgage overlays plus HCCI credit-readiness review apply. A homebuyer education course is required, through Housing and Credit Counseling, Inc. (HCCI) - 1195 SW Buchanan St, Topeka KS 66604; mandatory 12 hours of homebuyer education and home-maintenance training. Residency requirement: Property must be located within Topeka city limits and used as borrower's primary residence. Citizenship or immigration status: Per HUD HOME / CDBG eligibility - U.S. citizen or qualifying non-citizen. First-time homebuyer (cannot own real estate at time of closing). Income at or below 80% AMI (Shawnee County) - $48,960 (1 person) to $92,240 (8 person). Purchase price cannot exceed $75,000. $500 minimum borrower out-of-pocket down payment. Must complete 12 hours of HCCI homebuyer and home-maintenance training before closing. Must be credit-ready; HCCI counselor performs budget evaluation to determine affordability. HUD environmental review required before purchase. Property must be located within Topeka city limits.

Topeka Opportunity To Own (TOTO) Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% AMI for Shawnee County / Topeka MSA per HUD HOME limits - $48,960 (1 person) to $92,240 (8 person). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Topeka Opportunity To Own (TOTO) Program caps the purchase price at $75,000. Eligible property types include Single-family detached homes within Topeka city limits and properties must pass HUD HQS inspection (rehab funds available to bring to standard). New construction is not eligible. Manufactured homes are not eligible.

Topeka Opportunity To Own (TOTO) Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Topeka Opportunity To Own (TOTO) Program serves homebuyers purchasing in Topeka, Kansas. The program targets specific areas: Program effectively targets older, affordable Topeka housing stock through the $75,000 sales price ceiling and pairing with up to $30,000 rehab funding.

Applications for Topeka Opportunity To Own (TOTO) Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Buyer enrolls with HCCI for budget evaluation, credit readiness, and 12-hour training; HCCI submits application to City of Topeka Housing Services for funding approval. Subject to annual HUD HOME / CDBG allocation. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.