• Neville The Closer

Community Development Block Grant



First time homebuyers may receive a $5,000 incentive from the Community Development Block Grant (CDBG) toward buying a home.


DETAILS:


  • If your household income is equal to or less than the 80% Area Median Income (AMI) limit, you may qualify for this incentive.

  • This incentive is for first time home buyers

  • Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.

  • The home must be the homebuyer's primary residence

  • Homebuyer must invest a minimum of $1000 from personal resources

  • Incentive may be used toward downpayment and closing cost

  • Incentive is a five year forgivable loan (Your balance is forgiven by 20% each year, at the end of the five year you no longer have a balance.)

  • Homebuyer must receive a Housing Quality Standard home inspection on the property

  • This incentive may be used in addition to other incentives.

Got questions? Call me or email njones@marymacmortgage.com or click here to get started.

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