Town of Babylon HOME Down Payment Assistance Program

Town of Babylon HOME Down Payment Assistance Program è un secondo prestito differito per chi compra casa in Babylon, New York, gestito da 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. I fondi provengono da HUD HOME Investment Partnerships Program (Town of Babylon).

Town of Babylon HOME Down Payment Assistance Program offre un aiuto fino a $50,000. Contributo di chi compra casa: At least $3,000 in verifiable liquid assets at application AND at least 3% of purchase price down from own funds. No seller concessions. Il programma può essere combinato 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. Gli importi sono i massimi pubblicati dal programma, non un'offerta: è Long Island Housing Partnership, Inc. (LIHP), as agent for the Town of Babylon Community Development a stabilire l'eventuale importo per ciascuna persona.

Town of Babylon HOME Down Payment Assistance Program viene condonato dopo 10 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di 0% deferred loan forgiven after 10 years; full recapture if owner sells, transfers, ceases primary occupancy, or rents during the 10-year period. L'aiuto è iscritto in posizione Subordinate (second), subordinate to the prime lender. Le condizioni di condono e di rimborso sono fissate dal programma e possono cambiare: verificale sulla pagina ufficiale del programma prima di fare domanda.

Town of Babylon HOME Down Payment Assistance 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: May own vacant land or a vacation timeshare if no mortgage-interest/property-tax deductions in the prior 3 years. Sul credito, il programma afferma: 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. È richiesto un corso per chi compra casa, tramite Long Island Housing Partnership (HUD-certified); free ~2-hour pre-purchase counseling required. Requisito di residenza: 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. Cittadinanza o status migratorio: 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 il reddito familiare al 80% del reddito mediano dell'area, che varia in base alla contea e alla dimensione del nucleo familiare. 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. 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.

Town of Babylon HOME Down Payment Assistance Program fissa un prezzo di acquisto massimo di $599,000. I tipi di immobile idonei includono Single Family, Townhouse, Condo, Co-op e Manufactured. Le nuove costruzioni sono idonee. Le case prefabbricate sono idonee.

Town of Babylon HOME Down Payment Assistance Program si rivolge a chi compra casa in Babylon, New York. Il programma si rivolge a zone specifiche: Town of Babylon hamlets/villages: Amityville, North Amityville, Babylon, Copiague, Deer Park, Lindenhurst, North Babylon, West Babylon, Wheatley Heights, Wyandanch, East Farmingdale.

Le domande per Town of Babylon HOME Down Payment Assistance Program passano da Long Island Housing Partnership, Inc. (LIHP), as agent for the Town of Babylon Community Development, che pubblica sul proprio sito le condizioni attuali e i passaggi per fare domanda. I fondi vengono prenotati tramite First-come, first-served; Purchaser Certificates issued until 75 eligible applicants or deadline (May 26, 2026 for 2026 round). 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.