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Lexington Community Development
Accepting Applications
for the Homeownership Assistance Program
Lexington County is accepting applications for its new Homebuyer Assistance Program. Funding for the program is provided through the U.S. Department of Housing and Urban Development (HUD) HOME Investment Partnerships Program. Assistance will be provided in the amount of $5,000 on a first-come/first-served basis for eligible applicants.
For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com
Funding for the Homeownership Assistance Program is Provided by HUD’s HOME Investment Partnership Program (HOME). HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. HOME provides formula grants to states and local governments. The funds are used, often in partnership with local nonprofit groups, to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.
For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com
General eligibility requirements to receive assistance for this new program are:
The home must be located within Lexington County.
The home must be occupied as the primary residence of the applicant.
The home must meet, at a minimum, Section 8 Housing Quality Standards (HQS). A Lexington County Building Inspector will assess the home to determine compliance with quality standards. If corrective work is required, all work to address HQS violations must be completed prior to the closing date. Down payment assistance funds cannot be used for minor repairs or to correct violations.
Homes purchased with assistance through this program must meet the HUD Single Family Mortgage Limits under 203 (b) of the National Housing Act (12 U.S.C. 1709(b)). The County’s maximum purchase price for a home is currently $144,584 for a single-family dwelling (95% of the median area’s purchase). Homes that exceed this cost are not eligible for assistance through this program.
An appraisal must be done on the subject home/property. The home must appraise for at least the value of the purchase price.
Homes selected for purchase must be built after 1978.
For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com
The Homeownership Assistance Program is administered through the County of Lexington’s Community Development Department. The program provides funding to eligible first-time homebuyers to assist with down payment and/or closing costs. A first-time homebuyer is defined as one who does not presently own a home or land, nor has previously owned a home or land with in the last three (3) years. At the time of application to the Community Development Department, an applicant also cannot have an existing purchase contract on a home.
For More information and or to receive an information and informational brochure contact Edwin Gerace via email at mail@609sold.com
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