First-Time Homebuyer Down Payment Assistance Program

First-Time Homebuyer Down Payment Assistance Program est un prêt annulable pour les futurs propriétaires de New Rochelle, New York. The City of New Rochelle First-Time Homebuyer Down Payment Assistance Program provides eligible income-qualified first-time buyers with up to 19% of the purchase price of an eligible single-family home as a zero-interest forgivable second-mortgage loan, used for down payment and closing costs. Funded through a combination of HUD HOME federal funds and the City's Affordable Housing Fund, the program is administered for the City by Westchester Residential Opportunities (WRO). Buyers must be current New Rochelle residents, complete HUD-approved homebuyer education, contribute at least 1% of their own funds, and remain in the home as their primary residence for five (5) years, after which the loan is forgiven. Up to 19% of the purchase price of an eligible single-family home as a zero-interest forgivable second-mortgage loan toward down payment and closing costs. The loan is forgiven after the buyer occupies the property as a principal residence for five (5) years. Maximum eligible purchase price ranges from approximately $594,000-$601,000 based on the City's published HUD HOME 95%-of-median-sales-price limits for Westchester County. Le financement provient de HOME, Local Government et Federal.

First-Time Homebuyer Down Payment Assistance Program fournit une aide équivalant à 19 % du prix d’achat, selon les règles du programme. Apport du futur propriétaire : Minimum 1% of purchase price from buyer's own funds. Le programme peut être combiné avec d’autres aides, sous réserve des règles de chacune. Les montants sont les plafonds publiés par le programme, et non une offre — l’organisme gestionnaire décide de chaque aide individuelle.

First-Time Homebuyer Down Payment Assistance Program est annulé après 5 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par Forgivable second mortgage et loan is forgiven in full after 5 years of owner-occupancy as primary residence. Sale, transfer, refinance with cash-out, or loss of owner-occupancy during the 5-year period triggers repayment of the unforgiven balance to the City of New Rochelle. 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.

First-Time Homebuyer Down Payment Assistance Program est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : Must not have owned any residential real estate in the previous 3 years (true first-time buyer or 3-year displaced homeowner per HUD HOME definition). Au sujet du crédit, le programme précise : No published minimum FICO; underwriting follows the buyer's first-mortgage product. Un cours pour futurs propriétaires est obligatoire, auprès de Westchester Residential Opportunities (WRO) - HUD-approved housing counseling agency; HUD-approved homebuyer education class required prior to closing. Condition de résidence : Must be a current City of New Rochelle resident purchasing a property located within the City of New Rochelle that will serve as primary residence for the 5-year affordability period. Citoyenneté ou statut d’immigration : U.S. citizen or eligible non-citizen permitted by underlying first-mortgage product and HUD HOME rules. Property must be a single-family home located within the City of New Rochelle. Buyer must be a first-time homebuyer (no ownership of residential real estate in the previous 3 years). Buyer must be a current New Rochelle resident purchasing within the city. Minimum household income $40,000; household income capped at 80% HUD AMI for Westchester County (1-person $76,300 up to 8-person $136,250 - varies by family size). Maximum eligible home value $594,000-$601,000 (HOME 95% rule for Westchester). Buyer must contribute at least 1% of purchase price from own funds, complete HUD-approved homebuyer education, and qualify for a mortgage through a participating lender. Buyer must occupy the home as primary residence for 5 years; loan is fully forgiven at the end of year 5. Sale, transfer, refinance with cash-out, or loss of owner-occupancy during the 5-year period triggers repayment of the unforgiven balance.

First-Time Homebuyer Down Payment Assistance Program 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 must be between $40,000 and 80% of HUD Area Median Income for Westchester County, adjusted by household size. 2025 80% AMI limits range approximately: 1-person $76,300; 2-person $87,200; 3-person $98,100; 4-person $108,950; 5-person $117,700; 6-person $126,400; 7-person $135,100; 8-person $136,250. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Le programme indique une taille de ménage maximale de 8. 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.

First-Time Homebuyer Down Payment Assistance Program plafonne le prix d’achat à $601,000. Les types de logements admissibles comprennent Single-family detached, Condominium et Townhouse. Les constructions neuves sont admissibles. Les maisons préfabriquées ne sont pas admissibles.

First-Time Homebuyer Down Payment Assistance Program s’adresse aux futurs propriétaires qui achètent à New Rochelle, New York.

Les demandes pour First-Time Homebuyer Down Payment Assistance Program 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 First-come, first-served via Westchester Residential Opportunities (WRO) once the buyer is under contract; applicant must complete intake, homebuyer education, and submit full application package. 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.