Welcome to the "Home Ownership" Page

The Lynn Community Development Housing Corporation (LCDHC) continues their efforts of providing moderately priced homes on vacant lots within target neighborhoods.  With support from the City of Lynn, through various departments, the LCDHC can continue their mission of providing good quality housing.  Every year the LCDHC continues to grow, not only in the number of units it creates but also with its expanded role as one of the leading housing providers in the city of Lynn. 

Visit www.lcdhc.org for home ownership opportunities.

 

Lynn Housing Authority & Neighborhood Development offers a series programs geared toward homeownership and particularly first-time homebuyers. Amoung those programs are:

"REALIZING THE DREAM" FOR HOME OWNERSHIP (Effective July 1, 2007)
This program is meant to expand the affordability of homeownership to eligible first-time buyers whose savings and income are inadequate to meet certain costs associated with the purchase of a single family or condominium properties. The resources from this program will be in the form of a 2nd mortgage in the combination of loan or grant. The payment is structured as a loan, paying interest only and will be amortized over a 5-30 year term. The assistance is only for down-payment, closing costs, lead paint removal or correction of all code violations. Program is subject to the availability of funds.

Program Details

SOFT SECOND PROGRAM (Effective July 1, 2007)
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.

Program Details

Please click here for a complete list of the grant and loan programs currently being offered by LHAND.