Homebuyer Opportunity Fund
[AWAITING FINAL STATE CLEARANCE AND CITY CONTRACT]
The Homebuyer Opportunity Fund offers soft-second mortgage
loans at zero (0%) per cent interest up to $50,000 and a
closing cost assistance grant up to $5,000 for homebuyers
purchasing homes primarily in the Housing
Opportunity Zones whose household incomes are within
the following income limits:
Up to $50,000 soft-second loans for household
incomes not exceeding 120% of AMI:
1
person |
2
persons |
3
persons |
4
persons |
5
persons |
6
persons |
7
persons |
8
persons |
$51,400 |
$58,750 |
$66,100 |
$73,450 |
$79,300 |
$85,200 |
$91,050 |
$96,950 |
The borrower must also invest at least
2% of the purchase price or $2,500 from personal funds,
which ever is the greater, if household income is between
81% - 120% AMI; or 1% of the purchase price or $1,500 from
personal funds, which ever is the greater, when household
income is below 81% AMI.
To learn more about the Pathway to
Homeownership Soft-Second Mortgage Loan Program click
here.
For more information please call (504)
524-5533 local or (877) 524-5533 toll free.
|
