Homeownership Down Payment and Settlement Assistance Fund

Homeownership Down Payment and Settlement Assistance Fund est un prêt annulable pour les futurs propriétaires de Dover, Delaware. The City of Dover Homeownership Down Payment and Settlement Assistance Fund (also marketed as the Dover First Start Program) provides forgivable second-mortgage assistance of up to $20,000 to help low- and moderate-income first-time homebuyers purchase a home within the City of Dover. Funded primarily through CDBG and/or city funds, the assistance covers down payment and settlement/closing costs and is forgiven after 10 years of owner-occupancy. Forgivable second mortgage up to $20,000 for down payment and settlement/closing-cost assistance on eligible properties located within the City of Dover. Loan carries 0% interest and is forgiven after 10 years if the borrower continues to occupy the property as their primary residence. Designed to help low- and moderate-income first-time homebuyers (and qualifying single parents/displaced homemakers) purchase a home within the city limits. Le financement provient de Federal CDBG et Local Government.

Homeownership Down Payment and Settlement Assistance Fund est annulé après 10 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par Loan is forgiven after 10 years of continuous owner-occupancy as primary residence. If property is sold, transferred, refinanced (cash-out), or ceases to be the borrower's principal residence within the 10-year period, the full unforgiven loan balance becomes due. L’aide est inscrite au rang suivant : 2. Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

Homeownership Down Payment and Settlement Assistance Fund est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : Single-parent exception: applicant who has not owned a home for at least 1 year (except as joint owner) may qualify; displaced homemaker exception per HUD definition. Au sujet du crédit, le programme précise : No published Dover-specific minimum; first-mortgage lender's product minimums apply. Un cours pour futurs propriétaires est obligatoire, auprès de HUD-certified homeownership counseling agency (e.g., NeighborGood Partners/NCALL, Interfaith Community Housing of Delaware); buyer must complete HUD-certified pre-purchase counseling before signing sales contract or applying for first mortgage. Condition de résidence : Property must be located within the corporate limits of the City of Dover, DE, and serve as borrower's primary residence. Citoyenneté ou statut d’immigration : U.S. citizen or eligible non-citizen per first-mortgage product rules. Buyer must not have owned a principal residence in the prior 3 years (single-parent exception: not owned in last 1 year except as joint owner). Household income must not exceed 80% of HUD area median income for Kent County / Dover by household size (approximately $37,450 1-person to $70,650 8-person at 80% AMI). Property must be located within the City of Dover corporate limits and serve as the buyer's primary residence. Buyer must complete HUD-certified homeownership counseling before contract/loan application and be certified prior to closing. First mortgage must be a fixed-rate loan. If property is sold, transferred, refinanced (cash-out), or ceases to be the borrower's principal residence within the 10-year affordability period, the unforgiven balance becomes due.

Homeownership Down Payment and Settlement Assistance Fund plafonne le revenu du ménage à 80 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. Household income may not exceed 80% of HUD area median income for the Dover, DE HUD income area, adjusted for household size. Approximate range: $37,450 (1-person) to $70,650 (8-person) at 80% AMI under current HUD limits. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

Homeownership Down Payment and Settlement Assistance Fund plafonne le prix d’achat ainsi : No published Dover-specific maximum purchase price; property must be located within the City of Dover corporate limits. Les types de logements admissibles comprennent Single-family detached, Townhome et Condominium. Les constructions neuves sont admissibles. Les maisons préfabriquées ne sont pas admissibles.

Homeownership Down Payment and Settlement Assistance Fund s’adresse aux futurs propriétaires qui achètent à Dover, Delaware.

Les demandes pour Homeownership Down Payment and Settlement Assistance Fund passent par l’organisme gestionnaire, qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire de Application processed through City of Dover Community Development office (or partnering HUD-approved housing counselor) on a first-come, first-served basis subject to fund availability. Hey Prescott n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.