Welcome to the "Homeownership" Page
Updated:10/11/2011
Visit www.ndainc.org for homeownership
opportunities.
Lynn Housing Authority & Neighborhood Development offers a series programs geared toward homeownership and particularly first-time homebuyers. Amoung those programs are:
FIRST-TIME HOMEBUYER CLASS SCHEDULE 2012
January 12, 19, 26 & Februrary 2, 2012
March 1, 8, 15 & 22, 2012
May 3, 10, 17 & 24, 2012
July 5, 12, 19 & 26 2012
Call 781-581-8600 for more information.
"REALIZING THE DREAM" FOR HOMEOWNERSHIP
Our goal is to work with eligible first time buyers whose savings and income are inadequate to meet certain costs associated with the purchase of a 1-4 family or condominium residential property; to enhance the appearance of Lynn's neighborhoods and to correct all health and safety code violations. This program provides:
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Homebuyers whose household income does not exceed the income limits in the attached guidelines will be eligible for a $5,000 grant and a $5,000 loan at 0% interest amortized over 5 years. The assistance is only for down-payment, closing cost, lead paint removal or the correction of all code violations.
SOFT SECOND PROGRAM
The objective of this program is to provide down payment assistance and closing cost assistance for those who are participating in the state approved “Soft Second” program. The Soft Second loans are available to low and moderate income first time homebuyers to reduce their first mortgage amounts and eliminate the need for Private Mortgage Insurance and make homeownership more affordable. The LHAND will provide a 1.5% forgivable loan for down-payment and closing cost assistance to eligible first-time buyers whose savings and income are inadequate to meet the cost associated with the purchase of a 1-4 family and condominium residential properties. The resources of this program will be in the form of a forgivable loan. Program is subject to the availability of funds.
COMPLETE PROGRAM GUIDELINES AVAILABLE HERE
Please click here for a complete list of the grant and loan programs currently being offered by LHAND.
