First-Time Homebuyer Downpayment Assistance Loan Program

First-Time Homebuyer Downpayment Assistance Loan Program è un prestito condonabile per chi compra casa in Salem, Massachusetts. The City of Salem First-Time Homebuyer Downpayment Assistance Loan Program (FTHB), administered by the Salem Department of Planning and Community Development (DPCD), provides 0% interest, deferred, forgivable second mortgages for low- and moderate-income first-time buyers purchasing a condo, single-family, or 2-4 unit home in Salem. Salem's program matches the buyer's down payment up to $6,500, with an additional $1,000 available to those who complete CHAPA homebuyer counseling, for a total maximum of $7,500. The loan is forgiven after 10 or 15 years of owner-occupancy (term depends on amount). Funded via HUD HOME, CDBG, and Community Preservation Act funds. Due to limited capacity, FY26 applicants are being placed on a waitlist. Up to $6,500 in matching down-payment assistance, plus an additional $1,000 for buyers who complete a CHAPA-certified homebuyer counseling course (total up to $7,500). Provided as a 0% interest, deferred, and forgivable second-mortgage loan, forgiven after 10 or 15 years of continuous owner-occupancy (term depends on assistance amount). I fondi provengono da HOME, CDBG, CPA, Federal e Local Government.

First-Time Homebuyer Downpayment Assistance Loan Program viene condonato dopo 10 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di Forgiven after 10 or 15 years of continuous owner-occupancy e unforgiven balance due upon sale, transfer, refinance with cash-out, or loss of owner-occupancy during the affordability period. L'aiuto è iscritto in posizione 2. Le condizioni di condono e di rimborso sono fissate dal programma e possono cambiare: verificale sulla pagina ufficiale del programma prima di fare domanda.

First-Time Homebuyer Downpayment Assistance Loan Program è aperto a chi compra la prima casa e chi compra casa e ci vivrà come residenza principale. Qui "prima casa" prevede delle eccezioni: First-time buyer required; single-parent and displaced-homeowner (divorce/legal separation) exceptions apply per Salem policy. Sul credito, il programma afferma: Not formally published; lender minimums apply (typically 620+ for conforming/FHA). È richiesto un corso per chi compra casa, tramite North Shore CDC, Harborlight Homes e other CHAPA-certified counseling agencies. Requisito di residenza: Property must be located in the City of Salem and used as the borrower's primary residence. Cittadinanza o status migratorio: U.S. citizen or eligible non-citizen per first-mortgage product and HUD HOME rules. First-time buyer required (no ownership in past 3 years); single-parent and divorced/legally-separated displaced homeowner exceptions per Salem policy. Buyer's liquid assets cannot exceed $50,000. Property must be located in the City of Salem and used as principal residence. Eligible properties include condominium, single-family, or 2-4 unit owner-occupied home. Matching funds required. Forgivable after 10 or 15 years (term depends on assistance amount). Apply via pre-qualification form to be placed on a waitlist; due to limited capacity all FY26 requests including emergencies are being placed on a waitlist. Program is funded with HUD HOME, CDBG, and Community Preservation Act funds.

First-Time Homebuyer Downpayment Assistance Loan Program limita il reddito familiare al 80% del reddito mediano dell'area, che varia in base alla contea e alla dimensione del nucleo familiare. Household income at or below 80% HUD AMI for Boston-Cambridge-Newton HMFA (FY2025): approx. 1-person $91,200 to 8-person $151,100. Il limite si applica al reddito totale del nucleo familiare, non solo a quello del richiedente del mutuo. Il programma indica una dimensione massima del nucleo familiare di 8. I dati sul reddito mediano dell'area sono pubblicati da HUD e aggiornati ogni anno, quindi controlla la tabella attuale della contea prima di basarti su una cifra.

First-Time Homebuyer Downpayment Assistance Loan Program fissa un prezzo di acquisto massimo di $1.0M. I tipi di immobile idonei includono Single-family detached, Condominium e 2-4 unit owner-occupied. Le nuove costruzioni sono idonee. Le case prefabbricate non sono idonee.

First-Time Homebuyer Downpayment Assistance Loan Program si rivolge a chi compra casa in Salem, Massachusetts.

Le domande per First-Time Homebuyer Downpayment Assistance Loan Program passano da l'ente che gestisce il programma, che pubblica sul proprio sito le condizioni attuali e i passaggi per fare domanda. I fondi vengono prenotati tramite Pre-qualification form required; applicants placed on waitlist (FY26 waitlist active due to limited capacity). Hey Prescott non è un istituto di credito e non accetta domande; questa pagina descrive il programma perché chi compra casa possa parlarne con un istituto di credito o un consulente abitativo.