Newberry Affordable Homeownership Program (Down Payment Assistance)

Newberry Affordable Homeownership Program (Down Payment Assistance) es un préstamo condonable para compradores de vivienda en Detroit, Michigan, a cargo de MiSide Community Impact Network (formerly Southwest Solutions / Southwest Economic Solutions). A place-based affordable homeownership program by MiSide (formerly Southwest Solutions) converting 60 former LIHTC rental homes in the Newberry/Chadsey-Condon area of SW Detroit to owner-occupancy. All buyers receive down payment assistance, and eligible buyers receive up to $20,000 as a conditional grant forgiven after five years of owner-occupancy. Homes sell for about $69,000 on 15-year mortgages, with required free homebuyer education; current Newberry renters get priority. Up to $20,000 forgivable DPA grant. Below-market ~$69,000 purchase price on a 15-year mortgage. Free homebuyer education and credit/financial counseling. Los fondos provienen de Private philanthropy - $2.5M Sam L. and Judith G. Yaker Fund, plus an anonymous $100,000 gift and an HBA Charitable & Educational Foundation grant. Not federal HOME/CDBG.

Newberry Affordable Homeownership Program (Down Payment Assistance) ofrece hasta $20,000 de ayuda. Los montos son los máximos publicados por el programa, no una oferta: MiSide Community Impact Network (formerly Southwest Solutions / Southwest Economic Solutions) determina cualquier ayuda individual.

Newberry Affordable Homeownership Program (Down Payment Assistance) 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 Sale, transfer, refinance, or loss of owner-occupancy before completion of the 5-year residency period; fully forgiven after 5 years of owner-occupancy. La ayuda se registra con un gravamen en posición second. 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.

Newberry Affordable Homeownership Program (Down Payment Assistance) está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Se requiere un curso de educación para compradores de vivienda, a través de MiSide (formerly Southwest Solutions) HUD-approved, MSHDA-certified Homebuyer Education; online ehome America course accepted as equivalent. Requisito de residencia: Program limited to the Newberry community, an 8-block area in the Chadsey-Condon neighborhood of southwest Detroit; current renters get priority. LOAN TERM: conditional/forgivable DPA up to $20,000, 0% interest, no monthly payments, secured by a recorded lien; forgiven after 5 years of continuous owner-occupancy; recapture if borrower sells/refinances/vacates before 5 years. Buyers purchase one of 60 specific Newberry homes (~$69,000) on a 15-year mortgage. Funded entirely by private philanthropy (not federal). Distinct from the City of Detroit DPA (National Faith Homebuyers).

Newberry Affordable Homeownership Program (Down Payment Assistance) fija su límite de ingresos así: Targeted to low- and moderate-income families; the 60 Newberry homes were originally LIHTC affordable rental housing; current renters get priority. Specific thresholds not published. 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.

Newberry Affordable Homeownership Program (Down Payment Assistance) limita el precio de compra a $69,000. Los tipos de propiedad elegibles incluyen Single Family. La construcción nueva no es elegible. Las viviendas prefabricadas no son elegibles.

Newberry Affordable Homeownership Program (Down Payment Assistance) atiende a compradores de vivienda que compran en Detroit, Michigan. El programa se dirige a áreas específicas: 60 former LIHTC rental single-family homes in the Newberry area of Chadsey-Condon, SW Detroit, transitioning to owner-occupancy. Vecindarios prioritarios: Newberry community (8-block area), Chadsey-Condon, southwest Detroit.

Las solicitudes de Newberry Affordable Homeownership Program (Down Payment Assistance) se tramitan a través de MiSide Community Impact Network (formerly Southwest Solutions / Southwest Economic Solutions), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. 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.