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.
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