Community Housing Development Organization (CHDO) Program: Provides low-income homebuyers with down payment and closing cost assistance towards the purchase of a REBOUND CHDO Home. Down Payment Assistance is in the form of a partially forgivable loan with 0% interest. Homebuyers must occupy the purchased home as their primary residence for a period of 5 – 15 years, depending upon the amount of assistance received. By the end of that specified period, 50% of the loan shall be forgiven. The remaining balance is not due until the sale of that home. The maximum amount of assistance per homebuyer will be no more than 20% of the purchase price but also based on the need of the individual buyer. Section 8 Homeownership clients are encouraged to apply.
For me information contact Mike Gardner (502) 356-6461