Town of Babylon HOME Down Payment Assistance Program

Town of Babylon HOME Down Payment Assistance Program es un segundo préstamo diferido para compradores de vivienda en Babylon, New York, a cargo de Long Island Housing Partnership, Inc. (LIHP), as agent for the Town of Babylon Community Development. The Town of Babylon HOME Down Payment Assistance Program, administered by the Long Island Housing Partnership, provides eligible first-time homebuyers up to $50,000 toward down payment and closing costs for an owner-occupied single-family home within the Town of Babylon. The assistance is a 0% deferred HOME loan, secured by a Note & Mortgage subordinate to the prime lender, forgiven after a 10-year affordability period and repaid in full if the owner sells, transfers, or stops occupying the home during that period. Can be paired with a NYS AHC grant of up to $40,000. Up to $50,000 0% deferred loan forgiven after 10 years. Stackable with up to $40,000 NYS AHC down payment/rehab assistance. Los fondos provienen de HUD HOME Investment Partnerships Program (Town of Babylon).

Town of Babylon HOME Down Payment Assistance Program ofrece hasta $50,000 de ayuda. Aporte del comprador de vivienda: At least $3,000 in verifiable liquid assets at application AND at least 3% of purchase price down from own funds. No seller concessions. El programa se puede combinar con NYS AHC grant (up to $40,000: $15,000 DP + $23,000 rehab + $2,000 fee), forgivable after 10 years, for non-new-construction homes needing rehab. Los montos son los máximos publicados por el programa, no una oferta: Long Island Housing Partnership, Inc. (LIHP), as agent for the Town of Babylon Community Development determina cualquier ayuda individual.

Town of Babylon HOME Down Payment Assistance Program se perdona después de 10 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por 0% deferred loan forgiven after 10 years; full recapture if owner sells, transfers, ceases primary occupancy, or rents during the 10-year period. La ayuda se registra con un gravamen en posición Subordinate (second), subordinate to the prime lender. 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.

Town of Babylon HOME 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: May own vacant land or a vacation timeshare if no mortgage-interest/property-tax deductions in the prior 3 years. Sobre el crédito, el programa indica: Middle credit score of all borrowers must be at least 580. Good 12-month payment history; no outstanding collections/judgments; bankruptcy discharged 3+ years; foreclosure 3-5+ years old. Se requiere un curso de educación para compradores de vivienda, a través de Long Island Housing Partnership (HUD-certified); free ~2-hour pre-purchase counseling required. Requisito de residencia: Home within the Town of Babylon (Amityville, North Amityville, Babylon, Copiague, Deer Park, Lindenhurst, North Babylon, West Babylon, Wheatley Heights, Wyandanch, East Farmingdale); principal residence for the 10-year period. Ciudadanía o situación migratoria: Each applicant must be a U.S. Citizen or a Qualified Alien (8 USC 1641). Recurring annual program; 2026 application round closes May 26, 2026 (between rounds at present). $35 application fee; LIHP counseling; HQS inspection; no seller concessions; fixed-rate 30-year first mortgage capped at SONYMA ATD rate + 2 points; 2-year employment and U.S. citizen/qualified-alien requirement.

Town of Babylon HOME Down Payment Assistance Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Maximum gross annual household income (2026, size 1-8): $92,350 / $105,550 / $118,750 / $131,900 / $142,500 / $153,050 / $163,600 / $174,150. 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.

Town of Babylon HOME Down Payment Assistance Program limita el precio de compra a $599,000. Los tipos de propiedad elegibles incluyen Single Family, Townhouse, Condo, Co-op y Manufactured. La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

Town of Babylon HOME Down Payment Assistance Program atiende a compradores de vivienda que compran en Babylon, New York. El programa se dirige a áreas específicas: Town of Babylon hamlets/villages: Amityville, North Amityville, Babylon, Copiague, Deer Park, Lindenhurst, North Babylon, West Babylon, Wheatley Heights, Wyandanch, East Farmingdale.

Las solicitudes de Town of Babylon HOME Down Payment Assistance Program se tramitan a través de Long Island Housing Partnership, Inc. (LIHP), as agent for the Town of Babylon Community Development, 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; Purchaser Certificates issued until 75 eligible applicants or deadline (May 26, 2026 for 2026 round). 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.