First-Time Home Ownership Program

First-Time Home Ownership Program es un segundo préstamo diferido para compradores de vivienda en Lockport, New York. The City of Lockport's First-Time Home Ownership Program, administered by the Department of Community Development, provides up to $15,000 in down payment, closing cost, and minor rehabilitation assistance to income-qualified first-time buyers purchasing a 1-2 family primary residence within the City of Lockport. Funded by HUD HOME and CDBG, the assistance is structured as a 0% interest deferred forgivable second mortgage with pro-rata forgiveness over a 5-year affordability period. Up to $15,000 in down payment, closing cost, and minor rehabilitation assistance for income-qualified first-time buyers purchasing a primary residence within the City of Lockport. Funded with HUD HOME / CDBG. provided as a 0% interest deferred forgivable second mortgage over a 5-year affordability period. Los fondos provienen de HOME, CDBG, Federal y Local Government.

First-Time Home Ownership 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 Pro-rata recapture of unforgiven balance if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years. 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 Home Ownership 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; standard HUD exceptions for displaced homemakers and single parents apply. Sobre el crédito, el programa indica: No fixed minimum published; per first-mortgage product (typically 620+ conventional, 580+ FHA). Se requiere un curso de educación para compradores de vivienda, a través de NeighborWorks Buffalo / NeighborWorks WNY; Belmont Housing Resources for WNY (HUD-approved). Requisito de residencia: Property must be located within the City of Lockport and used as borrower's principal residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per HUD HOME and first-mortgage rules. First-time buyer required (no homeownership in past 3 years). Property must be a 1-2 family home located within the City of Lockport and used as principal residence. Maximum purchase price $221,000 (existing) to $314,000 (new construction) per HUD HOME 95% median-value rule. Income at or below 80% AMI for Buffalo-Niagara MSA: 1-person ~$54,250 to 4-person ~$102,300 (HUD FY2025). Buyer must complete HUD-approved homebuyer education. Property must pass HQS inspection and meet HUD HOME/lead-paint standards. 0% interest deferred second mortgage forgivable pro-rata over 5 years; due in full if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years.

First-Time Home Ownership 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 Buffalo-Cheektowaga-Niagara MSA: 1-person ~$54,250 to 4-person ~$102,300 (HUD FY2025). 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 Home Ownership Program limita el precio de compra a $314,000. Los tipos de propiedad elegibles incluyen Single-family detached y 2-family owner-occupied. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

First-Time Home Ownership Program atiende a compradores de vivienda que compran en Lockport, New York.

Las solicitudes de First-Time Home Ownership 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 Apply via City of Lockport Department of Community Development after executing purchase contract; 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.