Home Purchase Program

Program Requirments

Down Payment
You must have at least (????) percent for the down payment saved.

Savings Requirment

Income Requirement
An applicant must earn 50%-80% of the area median income (AMI) as established by HUD. See below for more information.

 

Sweat Equity
An applicant must put in 200 Sweat Equity Credit Hours (total per household, not per person) before they move into the house.

Credit History
Have sufficient credit history, with no accounts in collection, no charge-offs, no unsatisfied public records, and no bankruptcies within the last two years.

Employment 

First Time Homebuyer
You must be considered a first-time homebuyer by HUD standards(View Here

Homeownership Education

Housing Need

• Need is determined by a family’s current living conditions.
• Structural/mechanical problems in the building.
• Visible holes or large cracks leaks, hazardous/toxic materials electrical problems plumbing problems appliances not working.
• Inadequate sleeping arrangements.
• More than 2 persons share a room with different gendered children sharing or persons having to sleep on the floor.
• Unsanitary conditions or health risks.
• Bugs, rodents, sewage problems, the stairway in disrepair, allergy concerns.
• Temporary or transitional housing.
• Family is currently living with relatives, is in an emergency shelter, or is homeless.
• Current housing does not meet the family’s physical needs

Income Information

In general, an applicant must earn 50%-80% of the Area Median Income. Area Median Income guidelines are set by HUD and based on household size (the number of people you plan to have living with you).



Family Size

Very Low (50%) Income Limits 

Low (80%) Income Limits

1

$25,800

$41,300

2

$29,500

$47,200

3

$33,200

$53,100

4

$36,850

$58,950

5

$39,800

$63,700

6

$42,750

$68,400

7

$45,700

$73,100

8

$48,650

$77,850

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