Down-Payment Assistance Program

Ang Down-Payment Assistance Program ay isang loan na mapapatawad para sa mga bibili ng bahay sa Canton, Georgia. The City of Canton Down-Payment Assistance Program provides up to $12,500 in DPA to qualified first-time homebuyers purchasing a primary residence within the city limits of Canton, Georgia. The program is delivered as a 5-year deferred, 0% interest, forgivable soft second mortgage and may be applied toward up to 50% of the lender-required down payment and up to 100% of allowable closing costs. The Canton City Council approved an amendment on November 16, 2023 raising the maximum award from $10,000 to $12,500. Income tiers track HUD AMI for the Atlanta-Sandy Springs-Roswell MSA, allowing the program to serve 30%/50%/80% AMI households. Funded with CDBG and City of Canton appropriations. Up to $12,500 (raised from $10,000 by City Council in November 2023) in down payment and closing-cost assistance for first-time homebuyers purchasing within Canton city limits. Covers up to 50% of the lender-required down payment and up to 100% of allowable closing costs. Structured as a 0% interest, 5-year deferred forgivable soft second mortgage — fully forgiven if borrower remains owner-occupant for the 5-year affordability period. Ang pondo ay mula sa CDBG / City of Canton General Fund.

Pinapatawad ang Down-Payment Assistance Program pagkalipas ng 5 taon, kaya hindi na ito babayaran ng bibili ng bahay na mananatili nang ganoon katagal. Kailangang bayaran kapag may Sale, transfer, refinance (cash-out), or loss of owner-occupancy before the 5-year affordability period ends. Nakatala ang tulong bilang lien sa posisyong Subordinate (2nd lien). Ang mga tuntunin sa pagpapatawad at pagbabayad ay itinatakda ng programa at maaaring magbago — kumpirmahin ang mga ito sa opisyal na pahina ng programa bago mag-apply.

Bukas ang Down-Payment Assistance Program sa mga unang beses na bibili ng bahay at mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. May mga eksepsiyon dito ang "unang beses": Eligible if applicant has not owned a home in the past 3 years. Tungkol sa credit, sinasabi ng programa: Determined by first-mortgage lender. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng HUD-approved homebuyer education provider (8-hour course). Requirement sa paninirahan: Property must be within the city limits of Canton, GA and occupied as primary residence. Citizenship o katayuan sa imigrasyon: U.S. citizen or qualified alien. First-time homebuyer required (no ownership in past 3 years). Total annual household income cannot exceed 80% of HUD AMI for the Atlanta-Sandy Springs-Roswell MSA based on family size. Property must be located within the Canton, GA city limits and used as primary residence. Buyer must complete HUD-approved homebuyer education. 5-year owner-occupancy requirement. Funded with CDBG and/or City general funds; subject to annual appropriation.

Nililimitahan ng Down-Payment Assistance Program ang kita ng sambahayan sa 80% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. Household income at or below 80% of HUD AMI for Atlanta-Sandy Springs-Roswell MSA. By household size approximately: 1p $60,200; 4p $85,950; 8p $113,550. Lower 30%/50% AMI tiers also exist for smaller households (e.g., 1p extremely-low-income tier ~$21,500). For a family of four in Canton the 80% AMI income limit is approximately $86,000 (per City Council reporting; verify current limits). Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Ang mga numero ng median na kita sa lugar ay inilalathala ng HUD at ina-update taun-taon, kaya tingnan ang kasalukuyang talahanayan para sa county bago umasa sa isang numero.

Nililimitahan ng Down-Payment Assistance Program ang presyo ng pagbili sa $1.4M. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single-Family, Townhome, at Condo. Kwalipikado ang bagong gawang bahay. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng Down-Payment Assistance Program ang mga bibili ng bahay sa Canton, Georgia. Tinutukoy ng programa ang mga partikular na lugar: Properties must be inside the City of Canton city limits (Cherokee County).

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa Down-Payment Assistance Program, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng Application submitted directly to the City of Canton; funds reserved once buyer is under contract on an eligible Canton property. Ang Hey Prescott ay hindi nagpapautang at hindi tumatanggap ng aplikasyon; inilalarawan ng pahinang ito ang programa para madala ito ng bibili ng bahay sa isang lender o housing counselor.