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Section 3
MBE/WBE

 

 

  Homeownership & Home Repair First-time homebuyers and veterans

 

> Cash Assistance Payment

 

bulletHelps enable first-time homebuyers in need of down payment and closing cost assistance.

 

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Need more information? Call Toll Free 800-246-7973

 

CAP details:

 

bulletQualified first-time homebuyers are eligible to receive a grant of 4 percent of the loan amount to be used for down payment and closing costs.
 
bulletNo junk fees are allowed.  The lender may charge standard closing costs.

 

 

 

 

Purchase Price Limits

Type of Home

Non-Target Area

Target Area*

Single family home

$248,098

$303,231

Duplexes

$317,655

$388,245

Note:  These limits are subject to change in accordance with regulations.

*Target Area:  click here

 

Income Limits

Program

Income Limits

Cash Assistance Loan Program

click here


Additional Income Guideline Information

The total gross annual household income for all residents living, or intending to live, in the home, age 18 or older, must be within the limits established for household income.

Total gross annual household income is calculated using all sources of income including, but not limited to, wages, overtime, bonuses, child support, alimony, commissions and earnings from a second job, business and investments.

 

 

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