Homebuyer Program
Program Description:
The Homebuyer Program provides eligible low-moderate income homebuyers with a maximum of $10,000 (based on program affordability) for down payment and closing costs. The funds will be in the form of a non-interest bearing loan, which will be repaid to Newcap upon the sale of the home or when it is no longer the primary residence. Applicants will be served on a first-ready, first-served basis as funds are available. First-ready, first-served clients would have to have an accepted offer to purchase and funding approval from a financial institution. Provides low-moderate income homebuyers with down payment assistance through a non-interest-bearing loan.
The Down Payment Assistance Programs helps eligible homebuyers purchase affordable homes by providing a deferred loan that can be used as down payment.
Eligibility Guidelines:
Applicants must be at or below 80% of the current County Median Income. Use our eligibility calculator to find out if you may be eligible for this program.
Application Process:
• Program applicants must first obtain a pre-approval letter from a local lender.
• Each applicant will also need to complete a homeowner education course.
• A program application will need to be completed along with income documentation to determine eligibility
.For further information and to request an application for the Homebuyer program, please contact John Opichka.
