Downpayment Assistance Program

Downpayment Assistance Program es un préstamo condonable para compradores de vivienda en Augusta, Georgia. The Augusta Housing & Community Development Department's Downpayment Assistance Program provides low-to-moderate-income first-time homebuyers in Augusta-Richmond County with a deferred-payment forgivable second-mortgage loan of $1,000-$10,000 for down payment and closing costs. Funded by HUD HOME Investment Partnerships and the American Dream Down-payment Initiative (ADDI). The 5-year forgivable lien is reduced 20% per year and fully forgiven at the 5th anniversary if owner-occupancy and residential use are maintained. Deferred-payment forgivable loan from $1,000 up to $10,000 toward down payment and/or closing costs. The full balance is forgiven on the 5th anniversary of purchase if borrower continues to own and occupy the home and use remains residential. Within the 5-year period, 20% of the assistance amount is forgiven each year (1/5 per year). No monthly payments. Los fondos provienen de HUD HOME Investment Partnerships Program and American Dream Down-payment Initiative (ADDI); Federal.

Downpayment 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 of title, conversion to non-residential use, failure to occupy as primary residence, or rental of the property during the 5-year affordability period triggers repayment of the unforgiven balance (full balance year 1, declining 20% each year). After year 5 the lien is released. 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.

Downpayment 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: First-time-homebuyer requirement waived for HUD-defined displaced homemakers and HUD-defined single parents (unmarried or legally separated with custody of one or more minor children, or pregnant). Sobre el crédito, el programa indica: No published minimum FICO; lender underwriting and 'satisfactory credit history' required. Se requiere un curso de educación para compradores de vivienda, a través de Department-approved homebuyer education program required prior to purchase; post-purchase counseling class also required prior to end of 5-year forgiveness period. Requisito de residencia: Property must be located within Augusta-Richmond County, excluding the City of Blythe. Applicant must be a first-time homebuyer per HUD definition (no homeownership in last 3 years), or a HUD-defined displaced homemaker, or single parent (unmarried/legally separated with custody of one or more minor children, or pregnant). Court-ordered custody documentation required for surrogate family members. Applicant must have satisfactory income and employment, satisfactory credit history, and complete an AHCDD-approved homebuyer education course. Property must serve as sole place of residency (no rental, no commercial use). Annual residency documentation (utility bills) must be submitted during the 5-year affordability period. Post-homeowner counseling class required prior to end of forgiveness period.

Downpayment Assistance Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Total annual household income cannot exceed 80% of HUD Area Median Income for Augusta-Richmond County (FY2025): 1p $49,500; 2p $56,550; 3p $63,600; 4p $70,650; 5p $76,350; 6p $82,000; 7p $87,650; 8p $93,300. Household income includes wages, salaries, government and non-government benefits, court-ordered child support, alimony, and stock dividends of all household members listed on application (including employed children). 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.

Downpayment Assistance Program limita el precio de compra a $253,000. Los tipos de propiedad elegibles incluyen One-unit single-family dwelling (attached or detached) designed for residential use, intended for owner-occupancy. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Downpayment Assistance Program atiende a compradores de vivienda que compran en Augusta, Georgia.

Las solicitudes de Downpayment 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 Lender submits sales contract and applicant documentation to AHCDD after first mortgage application. AHCDD reviews and inspects the property; if approved, voluntary sales certification is sent to the seller and closing is scheduled with the closing attorney. 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.