CDBG Target Area Down-payment Assistance

CDBG Target Area Down-payment Assistance es un préstamo condonable para compradores de vivienda en Florence, South Carolina. City of Florence Community Services CDBG-funded down-payment and closing-cost assistance for low- to moderate-income first-time homebuyers purchasing existing homes within the CDBG-designated target areas (North, Northwest, and East Florence). Assistance equals 20% of purchase price up to $20,000, structured as a 10-year deferred, forgivable second mortgage that requires the borrower to maintain the home as their primary residence for 10 years. Pro-rated repayment is owed if the home is sold or no longer owner-occupied within the 10-year affordability period. The City of Florence will provide 20% of the home purchase price (up to $20,000 maximum) toward down-payment and closing-cost assistance for eligible buyers purchasing within the CDBG-designated target areas of North, Northwest, and East Florence. Assistance is structured as a 10-year deferred, forgivable second mortgage on the property. No monthly payments. Fully forgiven at the 10-year anniversary if owner-occupancy is maintained. CDBG-funded. Los fondos provienen de Community Development Block Grant (CDBG); HUD Federal entitlement allocation to City of Florence.

CDBG Target Area Down-payment Assistance ofrece una ayuda equivalente al 20% del precio de compra, según lo fija el programa. Aporte del comprador de vivienda: Buyer must provide at least $500 of their own funds toward the home purchase. El programa se puede combinar con otras ayudas, sujeto a las reglas de cada una. Los montos son los máximos publicados por el programa, no una oferta: la agencia que administra el programa determina cualquier ayuda individual.

CDBG Target Area Down-payment Assistance 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 Sale of home, transfer of title, or failure to maintain the property as primary residence within the 10-year term triggers pro-rated repayment of the unforgiven balance to the City. After 10 years the lien is released. 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.

CDBG Target Area Down-payment Assistance está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Comprador de vivienda por primera vez” suele significar no haber sido dueño de una vivienda en los últimos tres años, pero el programa fija su propia definición. Sobre el crédito, el programa indica: No published minimum FICO; lender underwriting standards apply. Se requiere un curso de educación para compradores de vivienda, a través de Buyer must complete a homebuyer education class. Greater Florence Habitat for Humanity also offers homebuyer education. Requisito de residencia: Property must be located in the CDBG target areas of North, Northwest, or East Florence. Funds available on a first-come, first-served basis. $25 nonrefundable application fee. Buyer must complete homebuyer education class. Buyer must meet income eligibility (all income sources counted). Home must pass inspection by City and/or state prior to closing. Buyer must be approved by a bank or mortgage lender. Property must be located in the CDBG target areas of North, Northwest, or East Florence. Buyer must contribute at least $500 of own funds toward the home purchase. The City reserves the right to amend, alter, or change the program.

CDBG Target Area Down-payment Assistance limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income must be within the City of Florence eligible range, approximately 80% AMI for Florence, SC: 1p $39,350; 2p $44,950; 3p $50,550; 4p $56,150; 5p $60,650; 6p $65,150; 7p $69,650; 8p $74,200. All income sources are identified and counted. 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.

CDBG Target Area Down-payment Assistance limita el precio de compra así: Not separately published; assistance is capped at 20% of purchase price up to $20,000. Los tipos de propiedad elegibles incluyen Single-family residential dwelling intended for owner-occupancy in target area. La construcción nueva no es elegible. Las viviendas prefabricadas no son elegibles.

CDBG Target Area Down-payment Assistance atiende a compradores de vivienda que compran en Florence, South Carolina. El programa se dirige a áreas específicas: CDBG-designated target areas of North Florence, Northwest Florence, and East Florence within the City of Florence corporate limits.

Las solicitudes de CDBG Target Area Down-payment Assistance 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 Applications submitted to City of Florence Community Services on a first-come, first-served basis; $25 nonrefundable application fee. 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.