First-Time Homebuyer Down Payment Assistance Program

First-Time Homebuyer Down Payment Assistance Program es un préstamo condonable para compradores de vivienda en Everett, Massachusetts. The City of Everett First-Time Homebuyer Down Payment Assistance Program is an ARPA-funded forgivable second-mortgage program providing up to $20,000 to income-qualified first-time buyers purchasing within the City of Everett. The 5-year forgivable loan is administered by the Department of Planning & Development Housing Division. The Mayor expanded eligibility in 2025 to allow households earning up to 150% AMI and liquid assets up to $100,000. Awards are distributed first-come, first-served by date/time of completed application; multilingual applications are available. Up to $20,000 in forgivable down-payment assistance for income-qualified first-time buyers purchasing a 1-3 unit home or condominium in Everett. The forgivable second mortgage is forgiven 20% per year over 5 years, provided the home remains the buyer's primary residence and program requirements are met. Los fondos provienen de ARPA, Federal y Local Government.

First-Time Homebuyer Down Payment 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 Forgiven 20%/year over 5 years y unforgiven balance due upon sale, refinance with cash-out, transfer, or loss of owner-occupancy during the 5-year forgiveness period. 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 Down Payment 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 buyer required (no ownership in past 3 years). Sobre el crédito, el programa indica: Not formally published; lender minimums apply (typically 620+ for conforming/FHA). Se requiere un curso de educación para compradores de vivienda, a través de Urban Edge, Metro Housing Boston y other CHAPA-certified or HUD-approved counseling agencies. Requisito de residencia: Property must be located within the City of Everett and used as the borrower's principal residence for the 5-year forgiveness period. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product. First-time buyer required (no homeownership in past 3 years). Property must be located in Everett, used as primary residence. Maximum household income up to 150% of HUD AMI for Boston-Cambridge-Newton HMFA. Liquid assets capped at $100,000 (per 2025 program expansion). Forgivable second mortgage at 20% per year over 5 years; if home is sold, refinanced, or no longer primary residence within 5 years, unforgiven balance is due. Funded by FY23 ARPA earmark of $400,000 plus subsequent allocations. Application available in English, Spanish, Portuguese, and Haitian Creole. Distributed first-come, first-served by date/time of completed application.

First-Time Homebuyer Down Payment Assistance Program limita el ingreso del hogar al 150% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Up to 150% of HUD AMI for the Boston-Cambridge-Newton MSA (FY2025): approx. 1-person $62,340 to 8-person $178,250 across 80%-150% AMI bands. 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.

First-Time Homebuyer Down Payment Assistance Program limita el precio de compra así: No published dollar cap; HUD HOME 95% median-value rule applies if HOME-funded portion is layered. Los tipos de propiedad elegibles incluyen Single-family detached, Condominium y 2-3 unit owner-occupied. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

First-Time Homebuyer Down Payment Assistance Program atiende a compradores de vivienda que compran en Everett, Massachusetts.

Las solicitudes de First-Time Homebuyer Down Payment 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 First-come, first-served by date/time of completed application; paper applications available at City Planning Department and Everett Public Library locations (Parlin Memorial, Shute Memorial). 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.