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Thursday, 09 November 2006 |
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One of the greatest obstacles to buying a home can be the out of pocket cash required for downpayment and closing costs. Many families find that they can afford the monthly mortgage payment but do not have the savings to cover closing costs. Neighborhood Housing Partnership (NHP) wants to remove those obstacles by offering downpayment and closing cost assistance to qualified households.
NHP has two programs available for qualified homebuyers. The maximum grant assistance through the State of Ohio is $3000 and the Federal program is $5000. General guidelines include the following:
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The property (to be owner-occupied) must be located within the defined city limits of the City of Springfield. |
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The client must be a first-time homebuyer or not have owned a home within the last three years. |
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Total household income cannot exceed program limits. |
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A minimum $ 500.00 financial contribution by the client is required. |
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The home must be in good repair and be in compliance all city building and property maintenance codes. |
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The client must have completed NHP's 8-hour homebuyer class. Call NHP to register. |
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First mortgage must be conventional (no FHA, adjustable rates or seller seconds).
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The income guidelines for each program are listed below. You would have to be at or below these guidelines to qualify.
Contact NHP to find out how you can qualify for this assistance to find your way home.
| Household Size State-65%AMI Federal-80%AMI |
| 1 27381 33700 |
| 2 31322 38550 |
| 3 35222 43350 |
| 4 39122 48150 |
| 5 42250 52000 |
| 6 45378 55850 |
| 7 48506 59700 |
| 8 51634 63550 |
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Last Updated ( Wednesday, 05 August 2009 )
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