City of Brunswick
It is generally recognized that one of the biggest obstacles to the attainment of homeownership is the lack of affordable housing for the low-to moderate-income households of the City of Brunswick. Many in this situation are relegated to a lifetime of public housing, or annual rentals scattered throughout the city, and are never able to realize the dream of homeownership.
In 2008, the City of Brunswick Department of Community Development sought to begin in-roads to helping our lower-income, hard-working citizens achieve what had, until now, been unattainable. In July of 2008, the City was awarded a major grant through the Georgia Department of Community Affairs totaling $300,000, that amount to be matched by the City with $150,000. These funds were designed to provide “gap” financing in the form of 10-year forgivable loans up to a $30,000 limit. These loans are zero-interest, no payment loans that are completely forgiven if the homeowner remains in the house for 10 years. By taking advantage of the Community Housing Investment Program, potential homebuyers are able to reduce their monthly mortgage payments by $100 to $250, thereby bringing previously unaffordable homes within the scope of their budgets.
On Friday, November 13, this homeownership program closed on its first home. A 49-year-old custodian employed by the Glynn County School System was able to become a homeowner for the first time in her life. This is the first home in what the Department of Community Development hopes will become 15-20 homes over the course of the next six months.
To meet the program requirements, the home or new construction must be located within the city limits of Brunswick and meet all current building codes. Potential buyers need to earn below the household income limits for low-moderate income as established by the U.S. Department of Housing and Urban Development, successfully complete a homeownership education course, and be able to obtain a fixed-rate, FHA loan through a primary mortgage lender.
Any potential homebuyers that feel they meet the requirements described above are encouraged to contact the City of Brunswick Department of Community Development for additional information about qualifications and the process of attaining a homeownership dream!
For more information please contact “CHIP” Down Payment Assistance Program Coordinator Valerie Stallworth at 912-267-5530 or by stopping by City Hall located at 601 Gloucester Street in Brunswick.
In 2008, the City of Brunswick Department of Community Development sought to begin in-roads to helping our lower-income, hard-working citizens achieve what had, until now, been unattainable. In July of 2008, the City was awarded a major grant through the Georgia Department of Community Affairs totaling $300,000, that amount to be matched by the City with $150,000. These funds were designed to provide “gap” financing in the form of 10-year forgivable loans up to a $30,000 limit. These loans are zero-interest, no payment loans that are completely forgiven if the homeowner remains in the house for 10 years. By taking advantage of the Community Housing Investment Program, potential homebuyers are able to reduce their monthly mortgage payments by $100 to $250, thereby bringing previously unaffordable homes within the scope of their budgets.
On Friday, November 13, this homeownership program closed on its first home. A 49-year-old custodian employed by the Glynn County School System was able to become a homeowner for the first time in her life. This is the first home in what the Department of Community Development hopes will become 15-20 homes over the course of the next six months.
To meet the program requirements, the home or new construction must be located within the city limits of Brunswick and meet all current building codes. Potential buyers need to earn below the household income limits for low-moderate income as established by the U.S. Department of Housing and Urban Development, successfully complete a homeownership education course, and be able to obtain a fixed-rate, FHA loan through a primary mortgage lender.
Any potential homebuyers that feel they meet the requirements described above are encouraged to contact the City of Brunswick Department of Community Development for additional information about qualifications and the process of attaining a homeownership dream!
For more information please contact “CHIP” Down Payment Assistance Program Coordinator Valerie Stallworth at 912-267-5530 or by stopping by City Hall located at 601 Gloucester Street in Brunswick.
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