Homebuyer Assistance Program

Homebuyer Assistance Program es un préstamo condonable para compradores de vivienda en Normal, Illinois. The Town of Normal Down Payment Assistance Program (also marketed as the Homebuyer Assistance Program), administered by the Inspections / Community Development office, provides up to $5,000 in down payment assistance to income-qualified homebuyers (not limited to first-time buyers) purchasing a primary residence within the Town of Normal. Funded through CDBG, the assistance is structured as a 0%-interest 5-year forgivable second-mortgage loan. The Town's funds cannot exceed 50% of the buyer's down payment. Up to $5,000 in down payment assistance, structured as a 0%-interest 5-year forgivable second-mortgage loan, for income-eligible homebuyers purchasing a primary residence within the Town of Normal corporate limits. Town's funds may not exceed 50% of the down payment. Funded through CDBG. awarded first-come, first-served subject to fund availability. Los fondos provienen de Federal CDBG y Local Government.

Homebuyer Assistance Program ofrece hasta $5,000 de ayuda. Aporte del comprador de vivienda: Buyer's personal funds toward down payment/closing costs must not exceed 10% of contract purchase price; buyer must retain minimum $1,000 in bank account after closing. 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.

Homebuyer 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 5-year forgiveness period. If property is sold, transferred, refinanced (cash-out), or no longer the borrower's primary residence within 5 years, the unforgiven 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.

Homebuyer Assistance Program está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: No published Normal-specific minimum; first-mortgage product credit-score minimums apply. Requisito de residencia: Property must be located within the Town of Normal, IL, and serve as borrower's primary residence (no apartments or mobile homes). Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Annual household adjusted gross income must be at or below 80% HUD AMI for the Bloomington, IL HMFA (approximate range $61,250 1-person to $115,500 8-person under 2025 HUD limits). Property must be located within the Town of Normal and be owner-occupied (apartments and mobile homes do not qualify). Housing-to-Income (front-end) ratio must not exceed 36%; Total Debt-to-Income (back-end) ratio must not exceed 43%. Personal funds toward down payment/closing costs must not exceed 10% of the contract purchase price. Town's funds cannot exceed 50% of the down payment. Buyer must retain a minimum of $1,000 in a bank account after down payment/closing costs. Program is NOT limited to first-time homebuyers but is restricted to income-qualified buyers.

Homebuyer 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 adjusted gross income at or below 80% HUD AMI for the Bloomington, IL HMFA. 2025 approximate range: $61,250 (1-person) to $115,500 (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.

Homebuyer Assistance Program limita el precio de compra así: No published Normal-specific maximum purchase price; buyer's personal contribution may not exceed 10% of contract purchase price. Los tipos de propiedad elegibles incluyen Single-family detached, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Homebuyer Assistance Program atiende a compradores de vivienda que compran en Normal, Illinois.

Las solicitudes de Homebuyer 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 by lending institution to Town of Normal; 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.