Home Ownership Assistance Program

Down payment and closing cost assistance loans are available to homebuyers to reduce the amount of upfront money needed to purchase a home.

Homebuyers will be able to select one of two options if they qualify:

• Option One: an 11-year loan with a maximum amount up to $15,000 with a deferment period of one (1) year.  During the deferment period, the interest rate would be 0% with no payment due.  The remaining ten years would be a fully-amortizing loan at 4% interest.
• Option Two:  a 10-year loan with a maximum amount up to $3,000, with a deferment period of five (5) years.  During the deferment period, the interest rate would be 0% with no payment due.  The remaining five years would be a fully-amortizing loan at 4% interest.