HOMEOWNERSHIP OPPORTUNITY PROGRAM (HOP) FUNDS
for DOWNPAYMENT ASSISTANCE IN FILLMORE COUNTY
Funds were received from the Affordable Housing Trust Fund (NAHTF) to provide “down payment assistance” to eligible homebuyers in Fillmore County for the purchase of existing homes in Fillmore County communities. The program runs through September 22 of 2015 and $128,000 dollars is 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 in a Fillmore County community 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.
There are also funds for 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 Affordable Housing Trust Fund (NAHTF) funds were awarded to Fillmore County with the Sub recipient being FCDC. The Fillmore County Development Corporation implements the program and Southeast Nebraska Development District (SENDD) is the program administrator.