First Time Homebuyer Program

First Time Homebuyer Program es un préstamo condonable para compradores de vivienda en Collinsville, Illinois. The City of Collinsville First Time Homebuyer Program, administered by the Community Development Department, provides income-based down payment assistance of up to $5,000 to first-time homebuyers purchasing a primary residence within the City of Collinsville corporate limits. Funded through CDBG/HOME, the assistance is structured as a 5-year forgivable second-mortgage loan; required buyer contribution is set on a graduated scale based on Median Area Income (MAI) tier. Income-based down payment assistance up to $5,000 for first-time homebuyers purchasing a home within City of Collinsville corporate limits. Funded through CDBG/HOME and structured as a 5-year forgivable second-mortgage loan. required buyer contribution is determined by Median Area Income (MAI) tier. Awarded first-come, first-served subject to fund availability. Los fondos provienen de Federal HOME, Federal CDBG y Local Government.

First Time Homebuyer Program ofrece hasta $5,000 de ayuda. Aporte del comprador de vivienda: Buyer contribution determined by MAI tier (graduated by income); contact Community Development for current tier table. 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.

First Time Homebuyer 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 Loan forgiven over 5 years of continuous owner-occupancy. If sold, transferred, refinanced (cash-out), or no longer primary residence within 5 years, 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.

First Time Homebuyer 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; standard HUD displaced-homemaker / single-parent exceptions apply. Sobre el crédito, el programa indica: No published Collinsville-specific minimum; first-mortgage product credit-score minimums apply. Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved housing counseling agency; pre-purchase homebuyer education recommended. Requisito de residencia: Property must be located within the corporate limits of the City of Collinsville, IL, and serve as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Applicants must be first-time homebuyers (no homeownership in prior 3 years) and household income must be within program income guidelines (range approximately $21,700 30%-AMI very-low-income tier to $109,000 80%-AMI for the St. Louis HMFA, Madison County portion). Median Area Income (MAI) is used to determine the required buyer contribution level (graduated by income tier). Property must be located within the corporate limits of the City of Collinsville, IL, and be the buyer's primary residence. Application must allow minimum 15 calendar days for City staff processing.

First Time Homebuyer 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 within program income tiers (approximately 30%-80% HUD AMI for the St. Louis HMFA, Madison County portion). 2025 approximate range: $21,700 (1-person, 30% AMI) to $109,000 (8-person, 80% AMI). 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.

First Time Homebuyer Program limita el precio de compra así: No published Collinsville-specific maximum purchase price; subject to first-mortgage product limits and HOME affordability rules. Los tipos de propiedad elegibles incluyen Single-family detached, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

First Time Homebuyer Program atiende a compradores de vivienda que compran en Collinsville, Illinois.

Las solicitudes de First Time Homebuyer 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 Buyer or lender submits application to City of Collinsville Community Development; minimum 15-day staff review; 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.