Madison County Down Payment Assistance + Rehabilitation Grant

Madison County Down Payment Assistance + Rehabilitation Grant es una subvención para compradores de vivienda en Condado de Madison, New York. The Madison County Down Payment Assistance + Rehabilitation Grant Program, administered by the Homeownership Center, Inc. (HOC), provides up to $40,000 in combined DPA, closing cost, and rehabilitation grant funding to income-qualified first-time buyers purchasing a 1-2 family primary residence in Madison County. Funded by NYS HCR Affordable Home Ownership Development Program (AHODP) and HUD HOME, the grant covers down payment, closing costs, and identified rehabilitation work needed to bring the property up to HQS-equivalent standards. The grant is forgivable over a 10-year affordability period with pro-rata recapture if owner-occupancy is lost. Combined down payment, closing cost, and rehabilitation grant of up to $40,000 (typically split between DPA portion and rehab portion) for income-qualified first-time buyers purchasing a primary residence in Madison County. Funded by NYS HCR Affordable Home Ownership Development Program (AHODP) and HUD HOME via the Homeownership Center, Inc. Provided as a forgivable grant subject to a 10-year affordability period. Los fondos provienen de HOME, NYS HCR, AHODP, Federal y State.

Madison County Down Payment Assistance + Rehabilitation Grant está estructurado como una subvención, así que no se devuelve. El reembolso se activa por Pro-rata recapture of unforgiven balance if borrower sells, transfers, refinances with cash-out, rents, or vacates within 10 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.

Madison County Down Payment Assistance + Rehabilitation Grant 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 Homeownership Center, Inc. (HUD-approved counseling agency); pre-purchase education and one-on-one counseling required. Requisito de residencia: Property must be located within Madison County 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 Madison County and used as principal residence. Income at or below 120% AMI: 1-person ~$55,800 to 4-person ~$128,700 (HUD FY2025; higher 120% threshold reflects NYS AHODP eligibility). Buyer must complete HOC's HUD-approved homebuyer education and one-on-one counseling. Property must undergo HQS-equivalent inspection and identified rehab work must be completed by approved contractors. Combined DPA + rehab grant subject to 10-year affordability period; pro-rata recapture if home is sold, transferred, refinanced with cash-out, or no longer owner-occupied within 10 years.

Madison County Down Payment Assistance + Rehabilitation Grant limita el ingreso del hogar al 120% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 120% HUD AMI for Madison County (Syracuse MSA): 1-person ~$55,800 to 4-person ~$128,700 (HUD FY2025; NYS AHODP threshold). 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.

Madison County Down Payment Assistance + Rehabilitation Grant limita el precio de compra así: Per HUD HOME 95% median-value rule and NYS AHODP guidelines for Madison County. Los tipos de propiedad elegibles incluyen Single-family detached, 2-family owner-occupied y Manufactured home (on owned land). La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

Madison County Down Payment Assistance + Rehabilitation Grant atiende a compradores de vivienda que compran en Condado de Madison, New York.

Las solicitudes de Madison County Down Payment Assistance + Rehabilitation Grant 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 Homeownership Center after pre-purchase counseling completed and purchase contract executed; 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.