STATE SPONSORED HOMEBUYER ASSISTANCE PROGRAM

Home ownership is a dream for most Americans. The State Sponsored Homebuyer Assistance Program is offered through various government agencies. After all, regardless of their income level Americans strive to become homebuyers and purchase a home. That's why HOME offers down payment, closing cost and rehabilitation assistance to low-income homebuyers who make the purchased home their principal residence and rehabilitate it according to IHDA and HUD standards.

Before buying Daytona Beach area real estate and to receive HOME assistance, prospective homebuyers must take part in homeownership counseling to ensure they understand budgeting and personal financial management, home maintenance, the mortgage loan process, legal documents and obligations associated with buying a home, and work-out options they have with mortgage lenders in case financial problems arise.

SPONSORING AGENCIES
Local governments, non-profit organizations and Community Housing Development Organizations (CHDO) -- offer state sponsored homebuyer assistance programs. More information about CHDO's assistance program is in the Community Housing Development Organizations section. For-profit groups are not eligible. Homeowners should apply for HOME assistance through sponsoring agencies funded by IHDA, not directly through the Authority or via the Single Family Program Department.

ELIGIBLE PROPERTIES
You can search for Daytona Beach area real estate properties that are selected by sponsoring agencies. Homebuyers may choose from one-unit properties, condominiums or manufactured housing (mobile homes are ineligible). They may be valued at no more than HUD's area limits, and in the case of acquisition and rehabilitation, must be free from any health or safety defect before occupancy.

RESALE PROVISIONS
Assistance to homebuyers is provided in the form of deferred, forgivable loans at 0 percent interest. The use of HOME funds carries certain restrictions on the use of the purchased property, as well as upon any proceeds realized from the sale of the home if the sale occurs with in certain time frames. If the homeowner moves out or sells the home before this time period has expired, all or a portion of the HOME funds must be repaid by the homeowner.

For more information about state sponsored homebuyer assistance programs contact HOME at (312) 836-5200.

QUICK LINKS:
MLS HOME SEARCH	FEATURED LISTINGS	OPEN HOUSES	RECENTLY SOLD
MEET THE TEAM	LIST WITH US	NEW LISTING ALERT	15 SECOND APPRAISAL
HOME BUYING	SELLING A HOME	FREE REPORTS	FORMS
HOME FINANCE	FINANCING TERMS	REAL ESTATE TOOLS	TODAY'S RATES
TESTIMONIALS	LOCAL NEWS	MOVIE TIMES
COMMUNITIES:
GOLF & COUNTRY CLUB	LUXURY	WARNER ROBINS	MACON
KATHLEEN	PERRY	BYRON	EAGLE SPRINGS
MILL POND PLANTATION	MORGAN RANCH	ALL COMMUNITIES