Topeka Opportunity To Own (TOTO) Program

What is 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.

Do you have to pay it back?

Topeka Opportunity To Own (TOTO) Program is forgiven after 5 years, so a buyer 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.

Who qualifies?

Topeka Opportunity To Own (TOTO) Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income 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.

What kind of home can it be used for?

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.

Is there eligibility for specific groups?

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.

Where does it apply?

Topeka Opportunity To Own (TOTO) Program serves buyers 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.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Housing and Credit Counseling, Inc. (HCCI) - 1195 SW Buchanan St, Topeka KS 66604; mandatory 12 hours of homebuyer education and home-maintenance training..

2. 2

   Contact the administering agency to reserve funds

   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., 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.