Welcome Home Funds
On Thursday, March 1st, 2012 funds will become available for the Welcome Home program. This program is a grant of $5,000 to homebuyers within certain income limits. They do NOT need to be “first time homebuyers” to qualify – they just cannot own other real estate at the time of closing.
Some of the highlights of the program are:
- Maximum income is based on 80% of the current Median income for Jefferson County, and on family size.
- Full grant is forgiven after 5 years of occupancy.
- Works in conjunction with FHA financing.
- Fully executed sales contract must be presented to reserve funds.
- Buyer(s) must invest a minimum of $500 into the transaction, which can be the cost of the home inspection, termite, etc.
- $300 of the $500 requirement can be a gift from a family member.
- Total available funds for this program is about $7 Million. Reservations will be accepted until these funds are exhausted – or – deadline of December 1st, whichever comes first.
Tom & Tommy Johns ~ Woodstone Realty
502-419-3186 / 502-498-9699
tpjbildz@aol.com
tjohns@woodstonerealty.com
We will be happy to answer your questions about this program and help you find a home that fits your needs.
This program is only available to certain lenders, and Central Bank
is one of the chosen few to offer this program. Please call me with
any questions you may have. I look forward to working with you
and your buyers.
Jeanie Gammon - Central Bank
502.412.4032 Office
502.592.0933 Cell/VM
jgammon@centralbank.com