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DOWN
PAYMENT & CLOSING COSTS:
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Buyer's
must have at least 3.5% |
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For
Down Payment & Closing Costs |
The Buyer's
LIQUID ASSETS (e.g. cash savings,
certificate of deposits, money market accounts, etc.) may not
exceed HART's maximum gift amount.
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PROPERTY
QUALIFICATION:
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Single
Family Houses |
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Condominiums
and |
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Planned
Unit Developments |
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1-
4 Unit Properties |
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The
Buyer must occupy the Property as their Primary Residence, No
Rentals, or Vacation Homes are allowed. |
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INCOME
QUALIFICATIONS:
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Home
Buyer must be in a Low to Moderate Income Range, determined
by the State to Qualify for the Program. |
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They
must demonstrate their need for Financial Assistance. |
The Buyer's
LIQUID ASSETS (e.g. cash savings,
certificate of deposits, money market accounts, etc.) may not
exceed HART's maximum gift amount.
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EDUCATIONAL
REQUIREMENTS:
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Home
Buyer may
need to complete an EDUCATION requirement, and attent Pre-Purchasing
Counseling; |
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Home
Buyers do NOT have to be a 'First Time Home Buyer' to qualify
for the program. |
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HART
PROCESSING FEE:
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(1)
For under $100,000 a fee of $650.00, or
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(2)
For over $100,000 a fee of $950.00.
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uyers
Processing Fee:
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(1)
For under $100,000 a fee of $650.00, or
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(2)
For over $100,000 a fee of $950.00.
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(1)
For under $100,000 a fee of $650.00, or
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(2)
For over $100,000 a fee of $950.00.
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SELLERS
CONTRIBUTIONS:
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(1)
The Seller must agree to contribute,
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(2)
During the Buyers Purchase Transaction.
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HART
CONTRIBUTIONS / NO REPAYMENT:
Hart
will contribute
maximum gift fund of up to $15,000.
This amount can be used towards the down payment, closing cost, or debt
that a underwriter has allotted to be paid through escrow. The down
payment assistance provided is a gift
and does not need to be repaid.
