Rome has launched an assistance program with the Homeowners Center to help first-time homebuyers.
This allows income-qualified applicants to receive financial assistance for the down payment and closing costs associated with purchasing their first home. According to the city, the properties covered include existing her one-family and her two-family homes anywhere within the city of Rome’s corporate tax district.
City officials say eligible applicants are eligible for assistance with up to 50% of the down payment required by the lender and up to 4% of the purchase price as closing costs.
The final grant amount will be determined after approval. The maximum grant amount is $15,000.
Applicants must contribute a minimum of $2,000 toward the purchase of a home.
The following costs count toward the applicant’s minimum contribution: deposit, professional home inspection, survey and evaluation.
“There’s no better neighborhood improvement program than helping people fund their new homes. The city is proud to be able to help those who are a little short on down payment or need to close the closing cost gap.” I am thinking about it,” Rome’s mayor Jacqueline Izzo said in a statement. “This program provides eligible prospective buyers up to $15,000 in down payment assistance with a 100% loan forgiveness. Homeowner Center resources will help buyers take advantage of this new opportunity to secure a permanent We hope that we will be able to help raise funds for the House of the City of Rome.”
This program does not provide subsidies for cash purchase homes, fixer uppers, construction conversion mortgages, FHA mortgages, or new construction projects.
For program details, contact the Home Ownership Center at (315) 724-4197.