The Homeownership Opportunity Program
(HOP) to provide down payment subsidies to Home-buyers for the purchase of
existing homes within Fillmore County has been extended to March 22, 2013.
By the contract with NDED, the program
had a formal completion date of September 22, 2012. However, the Fillmore County Development
Corporation (FCDC), under a Subrecipient agreement with Fillmore County,
committed to meeting the target plan of completing at least 14 successful loan
closings (and minor rehabilitation) for homebuyers. So far there have been eight loan closings
with minor rehabilitation.
Therefore, the FCDC asked for a longer
time period in which to complete the program.
The FCDC asked for a 6-month continuation and a budget amendment
transferring HOME funds from the Downpayment Assistance Activity to the Housing
Rehabilitation Activity. The FCDC
received word last week from the Nebraska Department of Economic Development
that the program will now have a completion date of March 22, 2013 and $25,000
has been transferred from the downpayment assistance activity to the housing
rehabilitation activity.
Eligible applicants include
persons/families looking to purchase a home in Fillmore County and whose
incomes are 80% or lower than the median household incomes of Fillmore County,
NE, adjusted for family size. For
example, a family of four with a combined household income of $45,600 or less
may qualify. Other applicant eligibility
criteria include:
·
Home being purchased must be the
principal residence of the buyer
·
Completion of a Homeownership Training
Program
·
Creditworthiness
The purpose of the Homeownership
Opportunity Program (HOP) in Fillmore County is to provide financial assistance
for the purchase of existing single-family residential housing units which are
safe, decent, sanitary and affordable to low and moderate income
persons/families-buyers. The program is
funded by HOME Investment Partnership funds awarded to Fillmore County by the
Nebraska Department of Economic Development.
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