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Section 3
MBE/WBE

 

 

  Homeownership & Home Repair First-time homebuyers and veterans

 

> Non Cash Assistance Payment (Non CAP)

 

bulletProvides lower interest rate to first-time homebuyers who do not need down payment and closing costs assistance.

 

 

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Non CAL details:

 

bulletQualified first-time homebuyers are eligible for lower interest rates than those who use the CAP program.
bulletThese rates will result in a lower monthly payment.
bulletThis program does not provide down payment and/or closing cost assistance.
bulletNo junk fees are allowed. The lender may charge standard closing costs.
 

 

 

 

Purchase Price Limits

Type of Home

Non-Target Area

Target Area*

Single family home

$248,098

$303,231

Duplexes

$317,655

$388,245

Note:  These limits are subject to change in accordance with regulations.

*Target Area:  click here

 

Income Limits

Program

Income Limits

Non Cash Assistance Loan Program

click here


Additional Income Guideline Information

The total gross annual household income for all residents living, or intending to live, in the home, age 18 or older, must be within the limits established for household income.

Total gross annual household income is calculated using all sources of income including, but not limited to, wages, overtime, bonuses, child support, alimony, commissions and earnings from a second job, business and investments.
 

 

 

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