City of Providence Down Payment & Closing Cost Assistance Program

City of Providence Down Payment & Closing Cost Assistance Program是面向Providence，Rhode Island购房者的可免除贷款，由Housing Network of Rhode Island (in partnership with the City of Providence)管理。 Forgivable down payment and closing cost assistance for income-eligible first-time homebuyers purchasing a 1-3 family home or condominium in the City of Providence, administered by the Housing Network of Rhode Island using City of Providence HOME funds. Provided as a 0% interest, non-amortizing deferred loan that is forgiven if the property is owner-occupied through the compliance period. Up to $20,000 (income at/below 70% AMI) or up to $10,000 (income above 70% but below 80% AMI) toward down payment and closing costs as a 0% interest forgivable loan. 资金来自Federal HOME Investment Partnerships Program funds (via City of Providence)。

City of Providence Down Payment & Closing Cost Assistance Program提供$2,500至$20,000的援助。 该项目可与其他援助结合使用，但须遵守各项目的规定。 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Housing Network of Rhode Island (in partnership with the City of Providence)决定。

City of Providence Down Payment & Closing Cost Assistance Program是可免除贷款，满足项目条件后余额即被免除。 触发还款的情形：Full repayment required if the property is sold or refinanced before expiration of the compliance period, or if it ceases to be owner-occupied. 该援助以second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。

City of Providence Down Payment & Closing Cost Assistance Program面向首次购房者和将房屋作为主要住所自住的购房者。 “首次购房者”通常指过去三年内未拥有房屋，但该项目有自己的定义。 须参加购房者教育课程。 Must have a signed Purchase and Sales agreement; must purchase a 1-, 2-, or 3-family home or condo in Providence; must contribute $1,500 of own funds; if buying a multifamily, must complete a 3-hour Landlord class and a 3-hour Lead Hazard Awareness Seminar; property must pass a City home inspection (score 80+) and a visual lead-based paint inspection; requests below $2,500 not considered; $200 application fee (payable to City of Providence, refundable only in limited cases); no cash back to buyer at closing. Compliance period: 5 years if assistance under $15,000; 10 years if $15,000 or more. Must satisfy HUD front-end (38%) and back-end (45%) ratios.

City of Providence Down Payment & Closing Cost Assistance Program将家庭收入限制在地区收入中位数的80%，该数值因县和家庭人数而异。 Household income at or below 80% of Area Median Income (AMI) by household size; tier of assistance set at 70% AMI breakpoint. 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。

City of Providence Down Payment & Closing Cost Assistance Program的房价上限如下：Existing homes: 1 unit $333,000 / 2 units $427,000 / 3 units $517,000. New construction: 1 unit $406,000 / 2 units $520,000 / 3 units $629,000.

City of Providence Down Payment & Closing Cost Assistance Program服务于在Providence，Rhode Island购房的购房者。 该项目优先考虑指定的目标区域，因此除了县以外，具体地址也很重要。

City of Providence Down Payment & Closing Cost Assistance Program的申请通过Housing Network of Rhode Island (in partnership with the City of Providence)办理，该机构在其网站上公布现行条款和申请步骤。 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。