First-Time Homebuyer Down Payment Assistance Program

Ang First-Time Homebuyer Down Payment Assistance Program ay isang loan na mapapatawad para sa mga bibili ng bahay sa 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. Ang pondo ay mula sa HOME, Local Government, at Federal.

Nagbibigay ang First-Time Homebuyer Down Payment Assistance Program ng tulong na katumbas ng 19% ng presyo ng pagbili, ayon sa itinakda ng programa. Ambag ng bibili ng bahay: Minimum 1% of purchase price from buyer's own funds. Maaaring isama ang programa sa iba pang tulong, ayon sa mga patakaran ng bawat isa. Ang mga halaga ay ang pinakamataas na inilathala ng programa, hindi isang alok — ang ang ahensyang nangangasiwa ang nagpapasya sa anumang indibidwal na award.

Pinapatawad ang First-Time Homebuyer 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 Forgivable second mortgage at 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. 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 First-Time Homebuyer 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": 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). Tungkol sa credit, sinasabi ng programa: No published minimum FICO; underwriting follows the buyer's first-mortgage product. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Westchester Residential Opportunities (WRO) - HUD-approved housing counseling agency; HUD-approved homebuyer education class required prior to closing. Requirement sa paninirahan: 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. Citizenship o katayuan sa imigrasyon: 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.

Nililimitahan ng First-Time Homebuyer 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 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. 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.

Nililimitahan ng First-Time Homebuyer Down Payment Assistance Program ang presyo ng pagbili sa $601,000. Kabilang sa mga kwalipikadong uri ng ari-arian ang Single-family detached, Condominium, at Townhouse. Kwalipikado ang bagong gawang bahay. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng First-Time Homebuyer Down Payment Assistance Program ang mga bibili ng bahay sa New Rochelle, New York.

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa First-Time Homebuyer 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 Westchester Residential Opportunities (WRO) once the buyer is under contract; applicant must complete intake, homebuyer education, and submit full application package. 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.