Housing Down Payment Assistance Program
The City of Dakota City wants to help you achieve your dream of owning a home in the City of Dakota City.
The Down Payment Assistance Program is established to promote homeownership in the City of Dakota City. The HOME money may only be used by first-time homebuyers for down payment assistance, closing costs, principal reduction, and/or payment for the purchase of land for the construction of the home as a development subsidy.
The maximum amount of assistance from HOME funds will not exceed $10,000 for any one property being assisted.
All HOME funds must be expended for the benefit of families whose incomes are at or below 80% of the area median income as determined by the U.S. Department of Housing and Urban Development.
“Applicant Income” shall be defined as the IRS definition of adjusted gross income as defined definition of adjusted gross income as defined for reporting on IRS Form 1040.
It is possible for a lending institution to utilize this program when the financial assistance provided under this Funding Agreement meets sound mortgage underwriting guidelines providing mortgages for the benefit of low income families.
For more information, contact Brent Clark at 402.987.3448 or email: email@example.com.
City of Dakota City, 1511 Broadway Street, Dakota City, Nebraska 402.987.3448
www. dakotacity.net - THE OFFICIAL WEB SITE FOR THE CITY OF DAKOTA CITY, NE.
Income Limits for Applicants Size of Family Annual Income:
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