Homeownership Pool Program

HOMEOWNERSHIP PROGRAMS

HOMEOWNERSHIP POOL PROGRAM The Homeownership Pool (HOP) Program is a non-competitive program, with builders reserving funds for eligible homebuyers to provide down payment assistance on a first-come, first-served basis. The program is funded through the federal HOME Investment Partnerships Program (HOME).

Eligible homebuyers include those whose adjusted income does not exceed 80% AMI. While program limits apply, through this program, homebuyers can receive a zero percent deferred second mortgage loan for the amount necessary to meet underwriting criteria.

Program Summary • 103 households were assisted, averaging $24,976 per homebuyer. • $179,947 is the average purchase price of homes assisted through HOP. • $2,572,521 in loans were closed.

RENTAL HOUSING PROGRAMS