Homebuyer Down Payment/Closing Cost Assistance Program

Homebuyer Down Payment/Closing Cost Assistance Program es un préstamo condonable para compradores de vivienda en Moline, Illinois. The City of Moline CDBG Down Payment/Closing Cost Assistance Program, administered by the Community & Economic Development Department, provides forgivable second-mortgage loans up to $7,100 to low- and moderate-income homebuyers earning up to 80% of HUD AMI who purchase homes in Moline. Funded through CDBG, the program covers up to 50% of the required down payment plus reasonable closing costs and is forgiven on a pro-rata basis over a 5-year affordability period. Forgivable second-mortgage loan up to $7,100 for down payment and/or closing-cost assistance for households earning up to 80% of HUD Area Median Income. CDBG-funded. 5-year affordability period with pro-rated forgiveness (the longer the homeowner stays, the more is forgiven). Funds awarded first-come, first-served until exhausted. Los fondos provienen de Federal CDBG y Local Government.

Homebuyer Down Payment/Closing Cost Assistance Program ofrece hasta $7,100 de ayuda. Aporte del comprador de vivienda: Minimum $1,000 buyer contribution toward down payment and/or closing costs. 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 Down Payment/Closing Cost 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 affordability lien. Pro-rata forgiveness over 5 years y if homeowner sells, transfers, refinances (cash-out), or ceases to occupy as primary residence before 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.

Homebuyer Down Payment/Closing Cost 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 Moline-specific minimum; first-mortgage product credit-score minimums apply. Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved counseling agency; 8-hour Homebuyer Education class required prior to receiving assistance. Requisito de residencia: Property must be located within the corporate limits of the City of Moline, IL, and serve as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Household income at or below 80% HUD AMI for the Davenport-Moline-Rock Island MSA - approximately $50,150 (1-person) to $94,550 (8-person) under 2025 HUD limits. Buyer must be able to obtain a fixed-rate FHA, VA, or Conventional first mortgage. Front-end (housing) ratio must be less than 31% and back-end (total debt) ratio less than 43%. Buyer must contribute at least $1,000 toward down payment and/or closing costs. Property must be purchased fee-simple, located within City of Moline, and be the buyer's primary residence. Program may cover up to 50% of the required down payment plus reasonable closing costs. 8-hour HUD-approved Homebuyer Education class required prior to receiving assistance. Homeowner must carry homeowner's insurance and list City of Moline as additional insured. 5-year affordability lien recorded. Funds first-come, first-served until exhausted.

Homebuyer Down Payment/Closing Cost 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% HUD AMI for the Davenport-Moline-Rock Island, IA-IL MSA. 2025 approximate range: $50,150 (1-person) to $94,550 (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 Down Payment/Closing Cost Assistance Program limita el precio de compra así: No published Moline-specific maximum purchase price; subject to first-mortgage product and CDBG 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.

Homebuyer Down Payment/Closing Cost Assistance Program atiende a compradores de vivienda que compran en Moline, Illinois.

Las solicitudes de Homebuyer Down Payment/Closing Cost 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 via Jotform / Community Development; awarded first-come, first-served subject to 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.