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The federal law that protects you from housing discrimination is the Fair Housing Act, a law enforced by the U.S. Department of Housing & Urban Development (HUD).

Home Buyer Assistance City of Daytona Beach

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THE CITY OF DAYTONA BEACH

COMMUNITY DEVELOPMENT DEPARTMENT

Affordable Home Ownership Assistance Program (AHOAP)

FOR EXTREMELY LOW, VERY LOW, AND LOW INCOME HOUSEHOLDS

HOMEBUYER EDUCATION AND HOUSING COUNSELING PARTNERS

CENTRAL FLORIDA CDC

211 N. Ridgewood Avenue, Suite 114, Daytona Beach, FL (386) 253-3232

MID-FLORIDA HOUSING PARTNERSHIP, INC.

1834 Mason Avenue, Daytona Beach, FL (386) 274-4441

HALIFAX HABITAT FOR HUMANITY

1030 W. International Speedway Boulevard, Daytona Beach, FL (386) 257-9950

HOMEBUYER DOWN PAYMENT AND CLOSING COST ASSISTANCE

  • New construction – to purchase a viable single-family home in Daytona Beach $120,000 or less including cost of the lot.
  • Existing construction – to purchase a viable single-family home in Daytona Beach $120,000 or less including cost of the lot, home inspection and rehabilitation ($7,500 or less) upon staff review and acceptance. ALL ASSISTANCE IS DEPENDENT ON THE AVAILABILITY OF FUNDING.

HOW TO REQUEST ASSISTANCE

  1. Contact one of the Homebuyer Education and Housing Counseling Partners to help you assess and document your eligibility for down payment and closing cost assistance (DPA) including income, assets, homebuyer education, housing counseling, securing first mortgage financing, pre and post-purchase counseling. They can advise about properties that reasonably meets your income and debt characteristics.
  2. If working with a partner, the Client and the Partner should submit complete application packet to the City to request DPA to purchase your selected property. The city will determine if the purchase meets program guidelines.
  3. DPA Funding is limited and requests are granted on a “first ready – first serve basis“.

ELIGIBILITY REQUIREMENTS

The Applicant(s) Must:

  1. Have an Annual gross income that does not exceed the applicable HUD income limits.
  2. Purchase a home within the city limits of Daytona Beach.
  3. Secure viable first mortgage financing.
  4. Contribute at least $500 toward purchase of the home.
  5. Complete a First Time Homebuyer Homeownership Education; and Credit Counseling.
  6. Purchase a home that meets or with rehabilitation $7,500 or less, will meet all applicable building codes.
  7. Occupy and keep the home as your primary residence.
  8. Have an Approved Qualifying Agency (see above) submit a completed file to the City to include: the Certificate of Completion for Housing Counseling and Home Buyer Education, and proof of first mortgage financing.

AFFORDABILITY PERIOD

The respective affordability period is based on whether you purchase a new or existing home.

Purchase:

  • New construction home = 20 years
  • Existing construction home = 15 years

ASSISTANCE AVAILABLE TO AN APPROVED HOUSEHOLD

  1. Assistance is based on need, household income, family size, and availability of funding.
  2. The potential homebuyer’s liquid assets cannot exceed $5,000 excluding necessary personal property such as furniture, automobiles, and clothing.
  3. Approved Very Low-Income households are eligible for up to $50,000 in assistance.
  4. Approved Low-Income households are eligible for up to $40,000 in assistance.
  5. Approved Moderate-Income households are eligible for up to $30,000 in assistance.
  6. Rehabilitation assistance for existing homes shall not exceed $7,500.

ESSENTIAL PERSONNEL

Although the program requirements are the same for each applicant employees in fire, law enforcement, nurses and teachers are specifically identified as “essential personnel”.  Essential personnel are targeted for participation in these programs.

PROPERTY RESTRICIONS

  1. Property must remain occupied as the principal residence of the homebuyer(s) for the entire affordability period. No sale, rental, transfer of any interest, refinance without written authorization from City Housing staff.
  2. In case homebuyer(s) decease prior to the end of the affordability period. An heir or heirs, provided they are income and otherwise eligible per HUD guidelines, may assume the property agreements. If no eligible heir or heirs is identified, the City has the right to seek recovery of the funds invested and may employ foreclosure.
  3. Property taxes and insurance must remain fully paid and current.
  4. Property must be maintained in good, decent, safe and sanitary condition.

REPAYMENT PROVISIONS

If the homeowner(s) fail to comply with any of the property restrictions above or requirements in the written binding agreements for the ENTIRE affordability period the FULL amount of City assistance is due and payable in full including any lot contribution.

HOMEBUYER EDUCATION AND HOUSING COUNSELING

The path to homeownership begins with an assessment of client eligibility and credit through one of the Homebuyer Education and Housing Counseling Partners listed herein or Other Viable Entity as determined by the City including lending institutions. These organizations help clients identify “their” barriers to becoming a homeowner and assist to overcome those challenges in addition to helping obtain the required homeowner education and housing counseling certificates.

For Additional Information Contact

Seletha Bradley

Housing Coordinator (386) 671-8058 Community Development

Emory M. Counts

Economic/Community Development Director (386)671-8245

 

 


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