EDCOR First Time Home Buyer Down Payment Assistance Loan Program

EDCOR First Time Home Buyer Down Payment Assistance Loan Program是面向Euclid，Ohio购房者的可免除贷款，由Euclid Development Corporation (EDCOR)管理。 EDCOR's Down Payment Assistance Loan is a HOME-funded second mortgage for qualified first-time homebuyers purchasing in Euclid, Ohio. It provides up to $10,000 (or 17% of purchase price, whichever is less) used to reduce the first mortgage principal at closing. It is a 0% interest, 5-year forgivable loan: 50% is forgiven after 5 years of owner-occupancy with an annual proof-of-residence affidavit; the remaining 50% is recaptured upon sale, transfer, or refinance. Up to $10,000 at 0% interest with no monthly payments. Reduces first mortgage principal at closing. 50% forgiven after 5 years of owner-occupancy. Can eliminate PMI sooner. 资金来自Federal HOME Investment Partnerships Program (via City of Euclid / HUD)。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program提供最高$10,000的援助。 援助档次：Loan amount up to 17% of purchase price, capped at $10,000; amount varies by income level. 购房者自付部分：Minimum 3.5% of purchase price from personal savings, a bona fide family gift, or a stackable lender grant (not seller givebacks, not the DPA loan). 该项目可与Buyer's 3.5% may come from a stackable lender grant; combinable with EDCOR's $250 Challenge ($2,250) program.结合使用。 金额是该项目公布的上限，并非报价——具体每人的援助金额由Euclid Development Corporation (EDCOR)决定。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program在5年后免除，因此住满这段时间的购房者无需偿还。 触发还款的情形：50% forgiven after 5 years (60 months) of continuous owner-occupancy with annual proof-of-residence affidavit; remaining 50% recaptured upon sale, transfer, or refinance. 该援助以Second mortgage (behind first)顺位留置权登记。 免除和还款条款由项目设定，并可能变化——申请前请在项目官方网页上确认。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program面向首次购房者和将房屋作为主要住所自住的购房者。 此处的“首次”有例外情况：Must not have owned a home in the past 3 years; exception for recently divorced/displaced homeowners with documentation. 关于信用，该项目说明：No minimum credit score in program materials; creditworthiness governed by the first-mortgage lender. 须参加购房者教育课程，由Benjamin Rose; Realty Reimagined; Cleveland Housing Network; NID Housing Counseling Agency; Home Repair Resource Center提供。 居住要求：Property must be in the City of Euclid, Ohio and the borrower's primary residence. 公民身份或移民身份：Must be a legal U.S. citizen/resident. Loan term 5 years (forgivable second mortgage). NON-TRADITIONAL: assistance reduces the first mortgage principal and CANNOT be used for the buyer's 3.5% down payment or closing costs; buyer must separately contribute 3.5% of purchase price from own funds, gift, or a stackable lender grant. Closing must be scheduled at least 45 days after the accepted purchase agreement. 60-day funding commitment letter issued after preliminary approval; renewal not guaranteed due to limited funding. Subordination considered case-by-case only.

EDCOR First Time Home Buyer Down Payment Assistance Loan Program将家庭收入限制在$126,000。 该限制适用于家庭总收入，而不仅是借款人的收入。 该项目列出的最大家庭人数为8。 地区收入中位数由HUD公布并每年更新，因此在依据某个数字之前，请查看该县的最新表格。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program将房价上限设为$219,000。 符合条件的房屋类型包括Single Family、Townhouse和Condo。 新建房屋符合条件。 预制房屋不符合条件。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program服务于在Euclid，Ohio购房的购房者。 目标社区：Entire City of Euclid, Ohio。

EDCOR First Time Home Buyer Down Payment Assistance Loan Program的申请通过Euclid Development Corporation (EDCOR)办理，该机构在其网站上公布现行条款和申请步骤。 资金通过First-come, first-served; 60-day funding commitment letter after preliminary income-eligibility review.预留。 Hey Prescott不是贷款机构，也不受理申请；本页介绍该项目，方便购房者向贷款机构或住房咨询师咨询。