Homeownership Down Payment and Settlement Assistance Fund

Homeownership Down Payment and Settlement Assistance Fund es un préstamo condonable para compradores de vivienda en Dover, Delaware. The City of Dover Homeownership Down Payment and Settlement Assistance Fund (also marketed as the Dover First Start Program) provides forgivable second-mortgage assistance of up to $20,000 to help low- and moderate-income first-time homebuyers purchase a home within the City of Dover. Funded primarily through CDBG and/or city funds, the assistance covers down payment and settlement/closing costs and is forgiven after 10 years of owner-occupancy. Forgivable second mortgage up to $20,000 for down payment and settlement/closing-cost assistance on eligible properties located within the City of Dover. Loan carries 0% interest and is forgiven after 10 years if the borrower continues to occupy the property as their primary residence. Designed to help low- and moderate-income first-time homebuyers (and qualifying single parents/displaced homemakers) purchase a home within the city limits. Los fondos provienen de Federal CDBG y Local Government.

Homeownership Down Payment and Settlement Assistance Fund se perdona después de 10 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Loan is forgiven after 10 years of continuous owner-occupancy as primary residence. If property is sold, transferred, refinanced (cash-out), or ceases to be the borrower's principal residence within the 10-year period, the full unforgiven loan balance becomes due. 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.

Homeownership Down Payment and Settlement Assistance Fund 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: Single-parent exception: applicant who has not owned a home for at least 1 year (except as joint owner) may qualify; displaced homemaker exception per HUD definition. Sobre el crédito, el programa indica: No published Dover-specific minimum; first-mortgage lender's product minimums apply. Se requiere un curso de educación para compradores de vivienda, a través de HUD-certified homeownership counseling agency (e.g., NeighborGood Partners/NCALL, Interfaith Community Housing of Delaware); buyer must complete HUD-certified pre-purchase counseling before signing sales contract or applying for first mortgage. Requisito de residencia: Property must be located within the corporate limits of the City of Dover, DE, and serve as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Buyer must not have owned a principal residence in the prior 3 years (single-parent exception: not owned in last 1 year except as joint owner). Household income must not exceed 80% of HUD area median income for Kent County / Dover by household size (approximately $37,450 1-person to $70,650 8-person at 80% AMI). Property must be located within the City of Dover corporate limits and serve as the buyer's primary residence. Buyer must complete HUD-certified homeownership counseling before contract/loan application and be certified prior to closing. First mortgage must be a fixed-rate loan. If property is sold, transferred, refinanced (cash-out), or ceases to be the borrower's principal residence within the 10-year affordability period, the unforgiven balance becomes due.

Homeownership Down Payment and Settlement Assistance Fund limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income may not exceed 80% of HUD area median income for the Dover, DE HUD income area, adjusted for household size. Approximate range: $37,450 (1-person) to $70,650 (8-person) at 80% AMI under current HUD limits. El límite se aplica al ingreso total del hogar, no solo al del prestatario. 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.

Homeownership Down Payment and Settlement Assistance Fund limita el precio de compra así: No published Dover-specific maximum purchase price; property must be located within the City of Dover corporate limits. Los tipos de propiedad elegibles incluyen Single-family detached, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Homeownership Down Payment and Settlement Assistance Fund atiende a compradores de vivienda que compran en Dover, Delaware.

Las solicitudes de Homeownership Down Payment and Settlement Assistance Fund 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 Application processed through City of Dover Community Development office (or partnering HUD-approved housing counselor) on a first-come, first-served basis subject to fund availability. 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.