Down Payment/Closing Cost Assistance

Down Payment/Closing Cost Assistance es un préstamo condonable para compradores de vivienda en New Haven, Connecticut. The City of New Haven Down Payment / Closing Cost Assistance program provides first-time homebuyers with a zero-interest forgivable second mortgage of up to the greater of 6% of the purchase price or $20,000 for the purchase of a 1-4 unit owner-occupied home in New Haven. The loan is forgiven at 20% per year, fully forgiven at the end of year 5. The program is funded with HUD HOME / CDBG pass-through dollars and administered by the City's Housing Administration and Development division (within the Economic Development Administration / Livable Cities Initiative). Applications are submitted to the City through participating mortgage lenders. Zero-interest forgivable second-mortgage loan of up to the greater of 6% of the purchase price or $20,000, used for down payment, closing costs, or a combination of both. Loan is forgiven at the rate of 20% per year, fully forgiven at the end of year 5. No monthly payments. The applicant may sell or transfer the property at any time during the 5-year monitoring period provided the unforgiven balance is repaid to the City of New Haven, or the property is sold/transferred to a buyer willing to assume the balance and the loan's terms. Los fondos provienen de HOME, CDBG, Federal y Local Government.

Down Payment/Closing Cost Assistance ofrece una ayuda equivalente al 6% del precio de compra, según lo fija el programa. Aporte del comprador de vivienda: Minimum borrower contribution per first-mortgage program. El programa se puede combinar con otras ayudas, sujeto a las reglas de cada una. Los montos son los máximos publicados por el programa, no una oferta: la agencia que administra el programa determina cualquier ayuda individual.

Down Payment/Closing Cost Assistance se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Loan is forgiven at 20% per year over 5 years (fully forgiven at year 5). If the home is sold, refinanced with cash-out, transferred, or no longer owner-occupied during the 5-year monitoring period, the unforgiven balance is due and payable to the City of New Haven (or the loan may be assumed by an income-eligible buyer accepting the same terms). La ayuda se registra con un gravamen en posición 2. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Down Payment/Closing Cost Assistance está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: First-time homebuyer (no ownership of residential real estate in prior 3 years). Sobre el crédito, el programa indica: No published minimum FICO; underwriting follows the buyer's first-mortgage product. Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved housing counseling agencies serving New Haven (e.g., NHS of New Haven, HDF Connects, Connex Credit Union counseling network); 8-hour homebuyer education required. Requisito de residencia: Property must be located within the City of New Haven, CT, and be the buyer's primary residence for the 5-year monitoring period. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen permitted by HUD HOME / CDBG rules and the buyer's first-mortgage product. Property must be a 1-4 unit owner-occupied dwelling located within the City of New Haven. Buyer must be a first-time homebuyer (no ownership of residential real estate in the prior 3 years). Buyer must occupy the property as their primary residence for the 5-year monitoring period. Maximum assistance is the greater of 6% of the purchase price or $20,000. The City provides a zero-interest forgivable loan, forgiven at 20% per year over 5 years. If the home is sold or transferred during the monitoring period, the unforgiven balance must be repaid (or the loan assumed by an income-eligible buyer accepting the same terms). Buyer must complete an 8-hour HUD-approved homebuyer education class. Income limits follow HUD HOME / CDBG 80% AMI for the New Haven-Milford MSA, adjusted by household size.

Down Payment/Closing Cost Assistance limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 80% of the New Haven-Milford MSA Area Median Income, adjusted by household size: approximately $65,050 (1-person) up to $122,650 (8-person). Limits are updated annually by HUD. El límite se aplica al ingreso total del hogar, no solo al del prestatario. El programa indica un tamaño máximo de hogar de 8. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Down Payment/Closing Cost Assistance limita el precio de compra así: No fixed dollar maximum published; subject to HUD HOME 95% maximum-purchase-price rule for the New Haven area. Los tipos de propiedad elegibles incluyen Single-family detached, 2-unit, 3-unit, 4-unit y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Down Payment/Closing Cost Assistance atiende a compradores de vivienda que compran en New Haven, Connecticut.

Las solicitudes de Down Payment/Closing Cost Assistance se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Submitted by participating lender to the City; first-come, first-served subject to annual HUD HOME / CDBG funding allocation. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.