What can the assistance be used for?

The assistance CAN be used for:

  • Down-payment
  • Pre-paid items (homeowner’s insurance, mortgage interest, property taxes, etc.)
  • Subsidize mortgage interest rate
  • Reduce the principal amount of the first mortgage payment
  • Reasonable closing costs

The assistance CAN NOT be used for:

  • Realtor’s commissions
  • Cash refunds to the buyer

Housing and Community Development Department

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1. How long does the process take?
2. Are there any fees associated with the program?
3. Is this program only available in certain areas?
4. Are credit reports required for all household adults?
5. Is there a debt-to-income requirement?
6. Is there a credit score requirement?
7. Is there a maximum home price?
8. What can the assistance be used for?
9. What is the five or ten-year second lien?
10. What if I have to sell my home or move out before the five or ten years are over?
11. What if I need to refinance my home?