Program participants are required to attend a First Time Home Buyer class.
The HDCRH offers in-person classes on a bi-monthly basis—classes are held the 2nd Saturday of every other month.
Topics covered include:
Credit and Budgeting.
Financing a home purchase.
Real Estate transactions
The program provides home-buying assistance of up to $10,000 to eligible first-time home buyers.
The assistance is provided as a second mortgage, forgiven at a rate of 20% per year over a 5-year period.
The applicant must retain ownership of the home over this 5-year period for the second mortgage to be fully forgiven.
Applicants must complete a first time home buyer class.
Applicants must attend homebuyer counseling
620 minimum credit score
Applicant’s gross annual household income must be below 80% of area median income.