Down-Payment Assistance Program

Down-Payment Assistance Program es un préstamo condonable para compradores de vivienda en Canton, Georgia. The City of Canton Down-Payment Assistance Program provides up to $12,500 in DPA to qualified first-time homebuyers purchasing a primary residence within the city limits of Canton, Georgia. The program is delivered as a 5-year deferred, 0% interest, forgivable soft second mortgage and may be applied toward up to 50% of the lender-required down payment and up to 100% of allowable closing costs. The Canton City Council approved an amendment on November 16, 2023 raising the maximum award from $10,000 to $12,500. Income tiers track HUD AMI for the Atlanta-Sandy Springs-Roswell MSA, allowing the program to serve 30%/50%/80% AMI households. Funded with CDBG and City of Canton appropriations. Up to $12,500 (raised from $10,000 by City Council in November 2023) in down payment and closing-cost assistance for first-time homebuyers purchasing within Canton city limits. Covers up to 50% of the lender-required down payment and up to 100% of allowable closing costs. Structured as a 0% interest, 5-year deferred forgivable soft second mortgage — fully forgiven if borrower remains owner-occupant for the 5-year affordability period. Los fondos provienen de CDBG / City of Canton General Fund.

Down-Payment Assistance Program 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 Sale, transfer, refinance (cash-out), or loss of owner-occupancy before the 5-year affordability period ends. La ayuda se registra con un gravamen en posición Subordinate (2nd lien). 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 Assistance Program 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: Eligible if applicant has not owned a home in the past 3 years. Sobre el crédito, el programa indica: Determined by first-mortgage lender. Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved homebuyer education provider (8-hour course). Requisito de residencia: Property must be within the city limits of Canton, GA and occupied as primary residence. Ciudadanía o situación migratoria: U.S. citizen or qualified alien. First-time homebuyer required (no ownership in past 3 years). Total annual household income cannot exceed 80% of HUD AMI for the Atlanta-Sandy Springs-Roswell MSA based on family size. Property must be located within the Canton, GA city limits and used as primary residence. Buyer must complete HUD-approved homebuyer education. 5-year owner-occupancy requirement. Funded with CDBG and/or City general funds; subject to annual appropriation.

Down-Payment Assistance Program 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 HUD AMI for Atlanta-Sandy Springs-Roswell MSA. By household size approximately: 1p $60,200; 4p $85,950; 8p $113,550. Lower 30%/50% AMI tiers also exist for smaller households (e.g., 1p extremely-low-income tier ~$21,500). For a family of four in Canton the 80% AMI income limit is approximately $86,000 (per City Council reporting; verify current 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.

Down-Payment Assistance Program limita el precio de compra a $1.4M. Los tipos de propiedad elegibles incluyen Single-Family, Townhome y Condo. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Down-Payment Assistance Program atiende a compradores de vivienda que compran en Canton, Georgia. El programa se dirige a áreas específicas: Properties must be inside the City of Canton city limits (Cherokee County).

Las solicitudes de Down-Payment Assistance Program 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 submitted directly to the City of Canton; funds reserved once buyer is under contract on an eligible Canton property. 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.