Closing Cost Loans

Ang Closing Cost Loans ay isang ipinagpalibang pangalawang loan para sa mga bibili ng bahay sa Salisbury, Maryland. Salisbury NHS amortizing second-mortgage closing-cost loan: up to $15,000, term up to 10 years (5 years if <=$5K), rate 2% below first mortgage. NO income limit within Salisbury city; 120% AMI elsewhere in Wicomico/Worcester/Somerset. Owner-occupied. Pairs with MMP, USDA, FHA, VA, conventional. Closing-cost / down-payment assistance LOAN (amortizing repayable second mortgage) up to $15,000 from Salisbury Neighborhood Housing Services (SNHS) for buyers in Wicomico County (with expanded coverage to Worcester and Somerset counties under SNHS's regional service area). Loan terms: maximum 10 years (5 years if loan amount is $5,000 or less). Interest rate set 2% BELOW the buyer's first-mortgage rate (e.g., if first mortgage is 7%, SNHS second is ~5%). Property must be owner-occupied. Within Salisbury city limits there is NO income restriction. outside Salisbury but in Wicomico County, income limit is 120% area median income. SNHS is a NeighborWorks-affiliated CDFI. Funds typically used for closing costs and minor down payment supplement. pairs with Maryland Mortgage Program (MMP) first mortgages, USDA Rural Development, and conventional first mortgages. Ang pondo ay mula sa CDFI, NeighborWorks, State, at Local Government.

Ipinagpaliban ang Closing Cost Loans, kaya walang bayarin hanggang maibenta o ma-refinance ang bahay, o mabayaran nang buo ang unang mortgage. Kailangang bayaran kapag may Amortizing second mortgage with monthly payment over up to 10-year term (5 years if <=$5,000). NOT forgivable - principal and interest fully amortize over the term. 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 Closing Cost Loans sa mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. Tungkol sa credit, sinasabi ng programa: Per SNHS underwriting; first-mortgage lender's minimums also apply. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Salisbury Neighborhood Housing Services (HUD-approved housing counseling agency) - pre-purchase counseling required. Requirement sa paninirahan: Property must be in Wicomico County (and SNHS-served portions of Worcester/Somerset) and serve as primary residence. Citizenship o katayuan sa imigrasyon: Per first-mortgage product rules. Property must be owner-occupied primary residence. Within Salisbury city limits: NO income restriction. Outside Salisbury but in Wicomico County (and SNHS-served Worcester/Somerset): household income at or below 120% area median income. Maximum loan: $15,000. Term: max 10 years; max 5 years if loan amount $5,000 or less. Interest rate: 2% below first-mortgage rate. Pre-purchase counseling required from SNHS.

Nililimitahan ng Closing Cost Loans ang kita ng sambahayan sa 120% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. WITHIN Salisbury city limits: NO income restriction. OUTSIDE Salisbury but in Wicomico County (and SNHS-served Worcester/Somerset): household income at or below 120% area median income. Per LendSquawk seed: $71,400 (1-person) to $163,800 (8-person) reflects 120% AMI scaled by household size. 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.

Ganito nililimitahan ng Closing Cost Loans ang presyo ng pagbili: Per first-mortgage limits. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single-family detached, Townhome, Rowhouse, at Condominium. Kwalipikado ang bagong gawang bahay. Kwalipikado ang mga manufactured home.

Pinaglilingkuran ng Closing Cost Loans ang mga bibili ng bahay sa Salisbury, Maryland. Tinutukoy ng programa ang mga partikular na lugar: Salisbury NHS service area: Wicomico County (primary), Worcester County, Somerset County. Within Salisbury city limits: no income limit. Outside Salisbury: 120% AMI cap.

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa Closing Cost Loans, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng Apply directly through SNHS. SNHS originates the second mortgage; coordinates with buyer's first-mortgage lender at closing. 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.