HOMEOWNERSHIP OPPORTUNITY PROGRAM (HOP) FUNDS
for DOWNPAYMENT ASSISTANCE IN FILLMORE COUNTY
Funds were received from the Nebraska Affordable Housing Program to provide down payment subsidies to Homebuyers for the purchase of existing homes in Fillmore County. Currently five families have used the program to become homeowners in the county. The program runs through September 22 of this year and there is still over $100,000 dollars available for down payment assistance. The assistance comes in the form of a no interest loan that is paid back when the home is sold.
Participants must occupy the property as a principal residence and be income eligible. The purchase must be of an existing home and the cost may not exceed $135,000. The maximum subsidy cannot exceed 20% of the purchase price and has a maximum of $17,000.
FCDC may also provide funds to complete minor repair and/or rehabilitation work in the form of a conditional grant. The maximum amount of these grants will be $7,500 per home. Additional rehabilitation funds may also be secured through the USDA Rural Development programs. Rehabilitation work will be completed after the purchase of the property and must be completed within 6-months of the purchase closing date.
The program is funded by HOME Investment Partnership funds awarded to Fillmore County with the Sub recipient being FCDC. The Fillmore County Development Corporation implements the program.