Housing Assistance Corporation Blog

HAC Helps With Down Payment & Closing Costs

Posted by Laura Reckford on Tue, Aug 20, 2013 @ 10:00 AM

The Housing Assistance Corporation’s Down Payment and Closing Cost Assistance Program can help eligible clients to purchase homes.

The program has recently received another $40,000 in funding from the County HOME program, which allows HAC to continue its 20-year history of being able to bring funds to individuals who would not be able to make a home purchase without the funds provided by the program, according to Cheryl Kramer, Housing Consumer Education Center Manager.

“It is excellent news that we are able to continue to offer this loan program to those individuals who are buying market homes and meet the income criteria,” HAC Housing Counselor Brenda Rocklage said.

Maximum income limits to qualify for the program depend on the number of people in the household. For example, the income limit is $51,500 for a two-person household and $64,400 for a four-person household. The maximum loan amount is $10,000 and the loan must be repaid upon sale of the property.

 

Tags: HAC, housing assistance corporation