Choose Aurora Homebuyer Assistance Forgivable Loan Program

Choose Aurora Homebuyer Assistance Forgivable Loan Program es un préstamo condonable para compradores de vivienda en Aurora, Illinois. The Choose Aurora Homebuyer Assistance Forgivable Loan Program, administered by the City of Aurora Community Development Division, provides up to $5,000 of down payment and closing-cost assistance to income-eligible first-time homebuyers purchasing single-family homes within Aurora city limits. Funded through CDBG/HOME, the assistance is structured as a 3-year, 0%-interest, no-payment, fully-forgivable second mortgage that is satisfied after 3 years of continuous owner-occupancy. Up to $5,000 in down payment and closing-cost assistance, structured as a 3-year, 0%-interest, no-payment, fully-forgivable second-mortgage loan for income-eligible first-time homebuyers purchasing single-family homes within the City of Aurora. Awarded first-come, first-served subject to fund availability. Los fondos provienen de Federal HOME, Federal CDBG y Local Government.

Choose Aurora Homebuyer Assistance Forgivable Loan Program ofrece entre $3,000 y $5,000 de ayuda. Aporte del comprador de vivienda: Homebuyers must pay a minimum of $1,000 of their own funds toward the purchase. 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.

Choose Aurora Homebuyer Assistance Forgivable Loan Program se perdona después de 3 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Loan fully forgiven after 3 years of continuous owner-occupancy. If property is sold, transferred, leased, rented, abandoned, or ceases to be principal residence within 3 years, borrower may be required to repay a portion of the original loan amount. 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.

Choose Aurora Homebuyer Assistance Forgivable Loan 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 = no homeownership in prior 3 years; loss-of-prior-home exception per HUD definition. Sobre el crédito, el programa indica: No published Aurora-specific minimum; first-mortgage product credit-score minimums apply. Requisito de residencia: Property must be located within the corporate limits of the City of Aurora, IL, and serve as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Applicant(s) must be a first-time homebuyer or have not owned a home for at least 3 years (or lost prior home due to qualifying circumstances). Household income must be at or below 80% HUD AMI for Chicago-Naperville-Elgin HMFA (Kane/DuPage/Will/Kendall county portion) - approximately $62,800 (1-person) to $118,450 (8-person) under 2025 HUD limits. Property must be a single-family home within Aurora city limits and serve as buyer's primary residence. Buyer must occupy property as principal residence for the 3-year forgiveness term; otherwise pro-rata repayment may be required. Pre-purchase HUD-approved homebuyer education required.

Choose Aurora Homebuyer Assistance Forgivable Loan 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% HUD AMI for the Chicago-Naperville-Elgin HMFA. 2025 approximate range: $62,800 (1-person) to $118,450 (8-person). 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.

Choose Aurora Homebuyer Assistance Forgivable Loan Program limita el precio de compra a $342,000. Los tipos de propiedad elegibles incluyen Single-family detached. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Choose Aurora Homebuyer Assistance Forgivable Loan Program atiende a compradores de vivienda que compran en Aurora, Illinois.

Las solicitudes de Choose Aurora Homebuyer Assistance Forgivable Loan 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 or buyer submits application via City of Aurora Community Development Division; awarded first-come, first-served 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.