Tuesday, March 16, 2010

City offers up to $25,000 in down payment assistance to qualified homebuyers

“If you are thinking about buying a house this spring, you should consider one of these homes.”
by Eric VanOtteren
City of Brunswick

Is one of the Neighborhood Stabilization Program homes right for you this spring?

The City of Brunswick acquired three homes last fall as part of a grant program to eliminate vacant units and create affordable homeownership options. If you are thinking about buying a house this spring, you should consider one of these homes.

The City’s down payment assistance program and the NSP down payment assistance program may provide help to a qualified buyer of up to $25,000. The homes are offered to any qualified buyer on a first-come, first-served basis. In order to qualify to purchase one of these homes the buyer must meet income guidelines and qualify for a mortgage. The house must be used as the buyer’s primary residence.

The City is offering both CHIP homebuyer assistance and NSP homebuyer assistance. Each home will also receive additional funds to rehabilitate deteriorated or broken conditions in the house.

These homes are a great opportunity for homeownership. The homes will have received several thousand dollars in rehabilitation and will require no immediate work by the buyer. The homes are located at, 3006 Boxwood St., 2114 Egret St., and 1416 Sycamore St.

If one of the NSP houses is not on your list, the City of Brunswick is a great place to buy a house. There are a number of homes for sale in the City that are offered at affordable prices. Our down payment assistance program can provide assistance to any home purchased in the City.

In order to qualify for our homebuyer assistance, the purchasing family must meet certain income guidelines and qualify for a mortgage. The City’s down payment assistance program can meet the down payment requirements. The initial step is to participate in a Homebuyer Education course offered by Totally Free, Inc., on-line, or with another provider. After completing this educational course you should approach a bank and get pre-qualified for a mortgage.

The South East Georgia Community Land Trust is another source of affordable homes. You can find a house anywhere in the City or County and partner with the Land Trust to lower the cost of the purchase of the house. The City’s down payment assistance program works in partnership with the City to create affordable housing.

If you are interested in partnering with the City to purchase a home, please contact the Economic Development Department at 912-267-5509. The City will work with any Real Estate agent and mortgage company.

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