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Purchase Assistance Available for Melbourne Homebuyers

Post Date:06/19/2017 2:15 PM
Thinking about buying a home? We have information that can help! Did you know that borrowers qualifying as very low and low income are able to access funds through the State Housing Initiatives Partnership (SHIP) housing down payment assistance program funded by the City?

Up to $17,500 is available. The money can be used for down payment, closing costs, and, when necessary, repairs to bring a home into compliance with City Code and the Florida Building Code. Additional matching state funds may also be available.

“This is an opportunity to receive financial help with purchasing a home in the City of Melbourne. What greater time to raise awareness about this program, than during National Homeownership Month,” said Melbourne Housing and Urban Improvement Program Manager Denise Carter.

To qualify, you must meet the income criteria established using the U.S. Department of H.U.D. Income Limits and must be the primary resident for the duration of the lien period. In addition, homebuyers must have the ability to secure a first mortgage from an institutional mortgage lender, must receive homebuyer education and one-on-one counseling before closing, and must make a minimum good faith contribution toward the purchase (amount is determined by income level).

This program is for homes purchased within the City of Melbourne only. Mobile homes are not permitted. Preference is given to first-time homebuyers, but previous homebuyers may also qualify.
The City of Melbourne’s Purchase Assistance Program is funded by the State Housing Initiatives Partnership (SHIP) and is coordinated by a nonprofit housing agency Community Housing Initiative. Purchase assistance is made in the form of a deferred payment loan that does not have to be repaid as long as the homeowner abides by the terms of the agreement. Depending on the actual amount of assistance, a lien will be placed on the assisted property for 5-15 years. The obligation to repay the assistance expires when the lien period expires.

“A sense of pride and stability is realized for persons who are part of the City’s Purchase Assistance Program,” said Melbourne Housing and Urban Improvement Program Administrator Sueann Thomaston. “People buy homes in neighborhoods that best suit their needs and become invested in the community where they work and play. As a result, a long-term ‘place to call home’ is a dream achieved with dignity.”

To learn more, call the Community Housing Initiative at (321) 253-0053 or visit CHI’s website at and click on the City of Melbourne’s logo.