If your household income is equal to or less than the 80% Area Median Income (AMI) limit, you may qualify for this incentive.
Fixed rate mortgages only.
|This incentive is for first time homebuyers.|
|Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.|
|The home must be the homebuyer’s primary residence.|
|Homebuyer must invest a minimum of $1,000 from personal resources.|
|Incentive may be used toward downpayment and closing costs.|
|Incentive is a five-year forgivable loan (Your balance is forgiven by 20% each year, at the end of five years you no longer have a balance).|
|Homebuyer must receive a Housing Quality Standard home inspection on the property.|
|This incentive may be used in addition to other incentives.|