Alaska Down Payment Assistance Programs
The Alaska Housing Finance Corporation can provide a grant toward your closing costs including your down payment.
You can get up to 4% of the purchase price of the home youre buying. However, you may get only 3% if your credit score is particularly low. And you must have a score of 640 or above to be eligible at all.
You must be buying a single-family home that youre going to occupy yourself. And you must be financing that with a 30-year, fixed-rate mortgage backed by the Federal Housing Administration , Department of Veterans Affairs or U.S. Department of Agriculture .
Discover more at the AHFCs Closing Cost Assistance Program webpage. And take a look at HUDs list of alternative programs for Alaska.
Disability Plans Temporary Changes
New guidance has been made available to managers to help them support employees who are returning to work after a period on Disability Insurance or Long-Term Disability , and who are submitting claims for benefits. These temporary measures will be in place until further notice.
- To apply for DI Plan benefits, 4 forms must be completed and sent to Sun Life:
- Employees Statement
- Employers Statement
- Compensation Advisors Statement
On a temporary basis, an employees more senior manager may instead complete and submit the Supervisors Statement form, provided they indicate that they are doing so due to the unavailability of the employees direct supervisor or manager.
For more information:
Why Do You Need Personal Information And How Will It Be Used
Information on this form is collected under section 32 of the Freedom of Information and Protection of Privacy Act R.S.P.E.I. 1988, c. F-15-01, and will be used for assessing your application for credit under the Down Payment Assistance Program. If you have any questions about this collection of personal information, contact Finance PEI, 94 Euston Street, 2nd Floor, Charlottetown, PE C1A 7M8, 368-6200, .
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How Do You Qualify For Hud Programs
Most HUD programs target low-income people. If you meet the requirements, you can take advantage of these programs. Many of them cover rental assistance or public housing.
Otherwise, look to the Federal Housing Administration . It is an arm of HUD that can assist those who don’t meet qualifications for some of HUD’s programs. If you’re a teacher, firefighter, or another government employee, you may qualify for these programs instead.
Down Payment Assistance Program
Homeownership! The American Dream!
The City of Memphis, through its Division of Housing and Community Development , offers financial assistance to its citizens through the Down Payment Assistance Program , to assist with meeting the financial requirements of purchasing a home. DPA provides funds to help meet the down payment and closing cost requirements needed to complete the closing.
We have a variety of programs that provide assistance to homebuyers meeting program eligibility requirements. Requirements may include income limits, employment, location of the home, and being a first-time homebuyer. All properties must be located within the city limits of Memphis and must be assessed Memphis City taxes. The maximum sales price for all programs is the current HOME Value Limits, as determined by the Department of Housing and Urban Development . Based on funding availability, the maximum amount of assistance is up to 10% of the sales price, not to exceed $10,000.
If you are ready to purchase a home, information is available to help you determine which program may fit your needs. Please click on the links below to learn more about the various programs available.
Citywide DPA Programs:
Targeted Area DPA must purchase home through MHA HOPE VI Program, maximum income limit is 80% area median income.
To Apply for DPA:
3) Please complete the Income-Asset Questionnaire and submit to your lender at application.
Down Payment Assistance Program Process
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Are You A Good Neighbor Next Door
Do you work as an emergency medical technician, police officer, firefighter, or k-12 teacher? The Good Neighbor Next Door Sales Program could be your housing answer.
Through this HUD program, you can get 50% off the price of a home in an eligible area. You just need to commit to living there for 36 months.
These areas tend to be underserved. You’ll be able to find a list of available properties in different states through the HUD website. As part of the agreement, you’ll need to fill out a second mortgage for the amount of the discount. As long as you stay in the house for the agreed time, you won’t need to make any payments on it.
All you need to do is submit the necessary paperwork. You could get a great house at a steep discount!
North Dakota Down Payment Assistance Programs
The North Dakota Housing Finance Agency has two programs that are intended to help with down payments and closing costs.
To qualify, youll have to have a household income below certain caps. And the value of the home youre buying may also be limited.
You can find details here. And take a look at HUDs list of other homeownership assistance programs in North Dakota.
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Illinois Down Payment Assistance Programs
The Illinois Housing Development Authority has three down payment assistance loan options:
- Up to $6,000 Forgivable Unless you sell or refinance your home within the first 10 years, this DPA assistance loans balance would be forgiven. You could get 4% of the homes purchase price up to $6,000
- Up to $7,500 Deferred This 0% loan would need to be repaid when you sell or refinance the home. You could borrow 5% of the homes price up to $7,500
- Up to $10,000 Repayable Youd make monthly payments on this DPA loan for 10 years. You could borrow 10% of the homes purchase price up to $10,000
To get any of these loans, youll have to put up $1,000 or 1% of the purchase price yourself. And you must be buying an existing home new-builds are excluded.
The authority also has a special program for first-generation homebuyers. Its called Opening Doors, and it provides a $6,000 assistance loan thats forgiven after five years.
Learn more at the Illinois Housing Development Authoritys website. And consult HUDs listof alternative programs in Illinois.
Down Payment Help Available For First
The Prince Edward Island government is making it easier for Islanders to purchase their first home.
Under the Down Payment Assistance Program , the provincial government will provide interest-free loans worth up to 5 percent of the purchase price of an eligible property to qualified applicants. The loans are repayable over 10 years.
We have had a lot of interest in the down payment assistance program since it was first announced with the housing action plan, said Finance Minister Heath MacDonald. Similar programs in other jurisdictions have been very popular and have assisted many families, and now we want to bring that success to PEI.
Government has committed $1 million to the program and it will operate until either the full amount is committed or March 31, 2020, whichever comes first. DPAP will be administered by Finance PEI — a provincial crown corporation and will be based on a first come first serve basis.
First time homebuyers get a hand up from the PEI government! said Greg Lipton, president of the PEI Real Estate Association. This is a wonderful opportunity for young people, as it removes the barrier of trying to save up enough money for a down payment while paying rent.
Canada Mortgage and Housing Corporation and Genworth Mortgage Insurance & Homeownership both support DPAP and have confirmed that the program qualifies as an eligible source of nontraditional sources of down payment for their mortgage insurance purposes.
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New Hampshire Down Payment Assistance Programs
The New Hampshire Housing Finance Authoritys Home Flex Plus program can provide up to 3% in cash to assist with your down payment and closing costs. And its a grant, so you dont have to repay a cent.
The main hurdle for you to clear is that your income cant exceed $137,400.
Get more information from the authoritys website. And take a look at HUDs list of other homeownership assistance programs in New Hampshire.
Minnesota Down Payment Assistance Programs
The Minnesota Housing Finance Agency provides two types of down payment assistance loans to eligible borrowers:
- Monthly Payment Loan Borrow up to $17,000 at the same rate you pay on your first mortgage. Pay that down each month over 10 years
- Deferred Payment Loan First-time buyers can borrow up to $11,000 free of interest. You make no payments, but the balance will come due when you finish paying off the mortgage, refinance, or sell the home
Discover more at the MHFAs website. And check HUDs list of other homeownership assistance programs in Minnesota.
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Ohio Down Payment Assistance Programs
The Ohio Housing Finance Agency has a down payment assistance program through its MyOhioHome.org resource. It provides either 2.5% or 5% of the homes purchase price.
This comes in the form of a loan, which is forgiven after seven years. Sell, transfer, or refinance before then, and youll have to repay the loan. Youll need a credit score of 660 or better. And limits apply on incomes and purchase prices.
Get more information from MyOhioHomes website. And consult HUDs list of other homeownership assistance programs in Ohio.
Refinance A Mortgage Through The Va
The VA also offers ways to refinance existing mortgages. With the VA Cash-Out Refinance program, you can refinance a mortgage and get cash from the equity in the home. You don’t need to have a VA loan already to do this.
Through the VA Streamlines program, you can refinance existing VA loans. The process may not require you to go through an appraisal of your home or income verification. As a result, the process is quick!
Finally, you can get help with energy efficiency changes, too. Hoping to add solar panels or upgrade your windows to be more energy efficient? The VA can provide loans to help offset these expenses, too.
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Kansas Down Payment Assistance Programs
The Kansas Housing Resources Corporation has a first-time home buyer down payment assistance program. However, purchases within the city limits of Topeka, Wichita, Lawrence, and Kansas City, and in Johnson County, are not eligible for help.
If you qualify, you could get a loan of 15-20% of your homes purchase price, depending on your income. And that loan should be progressively forgiven over time, meaning it could end up costing you nothing.
One barrier: You yourself must make a minimum investment of 2% of the purchase price. For a $200,000 home, 2% equals $4,000.
Get more details at KHRCs website. And find alternative programs for Kansas on HUDs website.
Pennsylvania Down Payment Assistance
Known as “The Keystone State,” Pennsylvania is home to 86 down payment homeownership programs and 46 agencies. The Keystone Advantage Assistance Loan Program is a second mortgage. It covers home purchase closing costs up to 4% of the final purchase price, or $6,000 — whichever is less. Borrowers repay it monthly at 0% interest.
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Santa Ana Downpayment Assistance Program
Santa Anas Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. These funds are available on a first-come, first-served basis, in the form of a zero-interest loan.
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com’s compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
North Dakota Down Payment Assistance
One of the statewide programs offered in North Dakota is the North Dakota Roots program. Its purpose is providing affordable mortgage loans to moderate-income buyers. And even those who have previously owned a home can be eligible. Participants must supply at least $500 of their own money.
There are currently only seven programs available in the state, and there is one agency.
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Buying A Home As A Government Employee
Are you a government employee preparing to buy a home? The process of buying a new home may sound intimidating. With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Let’s dive into all of the home buying resources you have when working for the government!
Our real estate company is based in the state capital of North Carolina, Raleigh. We are no stranger to helping those who work for the government find great homes and use the resources available to them! Especially if you are a first-time homebuyer.
Here is the complete guide to buying a home as a government employee!
Tennessee Down Payment Assistance
In Tennessee, all homebuyers who qualify for a Great Choice Home Loan can also apply for down payment assistance. The Great Choice Plus second loan program finances up to 5% of the property’s purchase price at 0% with no monthly payments. Approved buyers received an average of $7,144 in down payment assistance through this program in 2017. Borrowers repay the loan only when they sell, refinance or move out of the home.
There are 12 agencies in the Volunteer State, offering a total of 37 programs.
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Louisiana Down Payment Assistance
Louisiana offers 38 statewide and regional homeownership assistance programs under 16 agencies. The Louisiana Housing Corporation offers several homeownership programs for eligible homebuyers. The various programs offer a variety of fixed-rate, 30-year loans, some of which are below market interest rates.
Idaho Down Payment Assistance
Idaho is a rural state with a small population. So much of the state is considered eligible for USDA zero-down financing.
The Idaho Housing and Finance Association has two forms of down payment and closing costs assistance. One’s a second mortgage, repayable over 10 years. The other’s a forgivable grant. You don’t have to make any payments, and after seven years, the agency forgives the “loan.”
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Kansas Down Payment Assistance
Kansas residents see owning a home as a big part of the American dream. The Community Housing Program helps Kansans buy, maintain and keep homes by arranging wholesale loans . Rates are below market. The favorable pricing helps lenders extend long-term, fixed-rate credit for housing.
The state provides 15 programs run by nine agencies.
Oklahoma Down Payment Assistance
The OHFA Homebuyer Downpayment Assistanceprogram is available in all 77 counties in Oklahoma for homes priced below $283,349. It’s a loan of up to 3.5% of the mortgage amount. Buyers must use the program with only 30-year fixed-rate mortgages. And they must be first-time buyers to be eligible.
There are currently 38 programs available in the state, and 25 agencies to chose from.
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Avoiding Layoffs Rehiring Employees And Creating New Jobs
- Jobs and Growth Fund
The Jobs and Growth Fund is a $700-million program that supports regional job creation and positions local economies for long-term growth. This includes up to $70 million dedicated to businesses created after January 2020.
The Fund will help businesses and organizations that:
- support the transition to a green economy
- foster an inclusive recovery
- enhance Canada’s competitiveness through digital adoption to improve productivity and manufacturing processes
- strengthen capacity in sectors critical to Canada’s recovery and growth
The Canada Recovery Hiring Program provides a subsidy on eligible salary or wages to help hard-hit businesses hire the workers they need to recover and grow as local economies reopen.
This program allows eligible employers to hire new workers, increase workers’ hours, or increase wages at a pace that works for them. As with the Canada Emergency Wage Subsidy, eligible employers can apply for support after each four-week period of the program.
We are ensuring that businesses can continue to get the financial support they need to invest in their longer-term prosperity, including businesses in hard-hit sectors like tourism and hospitality, hotels, arts and entertainment.
Support is available retroactively to June 6 2021 and until November 20, 2021.
New Mexico Down Payment Assistance Programs
The New Mexico Mortgage Finance Authoritys FIRSTDown program offers help with closing costs and down payments to first-time buyers. It provides up to $8,000 as a 30-year second mortgage at a relatively low interest rate.
This program must be used in conjunction with New Mexicos FIRSTHome mortgage financing program. There are caps on household incomes and home purchase prices. But those may be higher if youre buying in a target area.
Find those caps and much more information on the authoritys website. And read HUDs list of other homeowner assistance programs in New Mexico.
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Nebraska Down Payment Assistance Programs
The Nebraska Investment Finance Authority offers several options for down payment assistance:
- Homebuyer Assistance Program When you use $1,000 of your own money, you can get a second mortgage up to $10,000 for 10 years at 1%
- First Home Grant Program Homebuyers who make 50% of their areas median income can get up to $5,000 that never has to be repaid. This program has limited funds each year
DownloadNIFAs Homebuyer Assistance Program brochure for more information. And take a look at HUDs list of other homeownership assistance programs in the state.