Down Payment Assistance Program

Ang Down Payment Assistance Program ay isang ipinagpalibang pangalawang loan para sa mga bibili ng bahay sa North Andover, Massachusetts. The North Andover Affordable Housing Trust Down Payment Assistance Program provides up to $30,000 in interest-free, deferred-payment down-payment assistance to income-qualified first-time buyers purchasing a single-family home or condominium in North Andover. Funded with Affordable Housing Trust funds and Community Preservation Act allocations, the program is administered by Bread & Roses Housing in partnership with Centro de Apoyo Familiar (CAF). Applicants must be at or below 100% AMI; the loan is forgiven upon completion of the 10-year affordability term. Repayment is triggered upon sale, transfer, refinance without Trust approval, loss of owner-occupancy, or other term violation within the 10-year period. Up to $30,000 in deferred-payment, interest-free down-payment assistance for income-qualified first-time buyers purchasing a single-family home or condominium in North Andover for use as principal residence. The deferred loan is forgiven upon completion of the 10-year affordability term. Ang pondo ay mula sa CPA, Local Government, at AHT.

Pinapatawad ang Down Payment Assistance Program pagkalipas ng 10 taon, kaya hindi na ito babayaran ng bibili ng bahay na mananatili nang ganoon katagal. Kailangang bayaran kapag may Forgiven at the end of the 10-year affordability term. Due in full upon sale, transfer, refinance without Trust approval, loss of owner-occupancy, or other term violation during the 10-year period. Nakatala ang tulong bilang lien sa posisyong 2. 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": First-time buyer required (no ownership in past 3 years). Tungkol sa credit, sinasabi ng programa: Not formally published; lender minimums apply (typically 620+ for conforming/FHA). Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Bread & Roses Housing, Centro de Apoyo Familiar (CAF), at other HUD-approved/CHAPA-certified counseling agencies. Requirement sa paninirahan: Property must be located in the Town of North Andover and used as the borrower's primary residence for the 10-year affordability period. Citizenship o katayuan sa imigrasyon: U.S. citizen or eligible non-citizen per first-mortgage product. First-time buyer required (no ownership in past 3 years). Income limit 100% HUD AMI for Boston-Cambridge-Newton HMFA. Property must be located in North Andover; single-family home or condominium; used as principal residence. Deferred-payment loan is interest-free; no repayment unless the property is sold or transferred, refinanced without Trust approval, no longer used as primary residence, or the borrower otherwise violates terms within the 10-year affordability period. Loan is forgiven at the end of the 10-year term. Applications submitted to Bread & Roses Housing on a first-come, first-served basis until allocated funds are exhausted (annual allocation set by the Trust).

Nililimitahan ng Down Payment Assistance Program ang kita ng sambahayan sa 100% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. Household income at or below 100% HUD AMI for Boston-Cambridge-Newton HMFA (FY2025): approx. 1-person $93,800 to 8-person $155,450. Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Nakalista sa programa ang pinakamalaking laki ng sambahayan na 8. 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.

Ganito nililimitahan ng Down Payment Assistance Program ang presyo ng pagbili: Subject to Trust and first-mortgage lender underwriting; affordability tied to 100% AMI debt-to-income. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single-family detached at Condominium. Kwalipikado ang bagong gawang bahay. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng Down Payment Assistance Program ang mga bibili ng bahay sa North Andover, Massachusetts.

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 First-come, first-served via Bread & Roses Housing intake; awards continue until annual Trust allocation is exhausted. 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.