First-Time Homebuyer Down Payment Assistance Program

First-Time Homebuyer Down Payment Assistance Program é um empréstimo perdoável para compradores de imóveis em 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. Os recursos vêm de HOME, Local Government e Federal.

First-Time Homebuyer Down Payment Assistance Program oferece ajuda equivalente a 19% do preço de compra, conforme definido pelo programa. Contribuição do comprador de imóvel: Minimum 1% of purchase price from buyer's own funds. O programa pode ser combinado com outras ajudas, sujeito às regras de cada uma. Os valores são os máximos publicados pelo programa, não uma oferta — o órgão que administra o programa define qualquer ajuda individual.

First-Time Homebuyer Down Payment Assistance Program é perdoado após 5 anos, então o comprador de imóvel que permanecer esse tempo não o devolve. O reembolso é acionado por Forgivable second mortgage e 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. A ajuda é registrada como ônus em posição 2. As condições de perdão e reembolso são definidas pelo programa e podem mudar — confirme-as na página oficial do programa antes de se inscrever.

First-Time Homebuyer Down Payment Assistance Program é aberto a compradores do primeiro imóvel e compradores de imóveis que vão morar no imóvel como residência principal. “Primeiro imóvel” tem exceções aqui: 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). Sobre crédito, o programa afirma: No published minimum FICO; underwriting follows the buyer's first-mortgage product. É exigido um curso de educação para compradores de imóveis, por meio de Westchester Residential Opportunities (WRO) - HUD-approved housing counseling agency; HUD-approved homebuyer education class required prior to closing. Requisito de residência: 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. Cidadania ou situação imigratória: 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 limita a renda familiar a 80% da renda mediana da região, que varia conforme o condado e o tamanho da família. 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. O limite vale para a renda total da família, não só a do mutuário. O programa indica um tamanho máximo de família de 8. Os valores da renda mediana da região são publicados pelo HUD e atualizados todo ano, então confira a tabela atual do condado antes de se basear em um número.

First-Time Homebuyer Down Payment Assistance Program limita o preço de compra a $601,000. Os tipos de imóvel elegíveis incluem Single-family detached, Condominium e Townhouse. Construções novas são elegíveis. Casas pré-fabricadas não são elegíveis.

First-Time Homebuyer Down Payment Assistance Program atende compradores de imóveis que compram em New Rochelle, New York.

As inscrições para First-Time Homebuyer Down Payment Assistance Program são feitas por meio de o órgão que administra o programa, que publica as condições atuais e as etapas da inscrição no próprio site. Os recursos são reservados por meio 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. A Hey Prescott não é uma credora e não aceita inscrições; esta página descreve o programa para que um comprador de imóvel possa levá-lo a um credor ou a um conselheiro habitacional.