Funds Available for Sussex County Buyers
By JoAnn Moore, Home Loans in Delaware
(The Mortgage Market of Delaware)
Funds Available for Sussex County Home Buyers SUSSEX County Council’s Housing Trust Fund is helping home buyers with funding their down payments and/or closing costs. These funds are offered at zero interest. If the home buyer lives in the home for ten years the note is considered satisfied. The amounts of the funds are $10,000, $20,000, and $30,000. The amounts are based on the number of people in the household and income. The initial seed funds in the 2022 County budget are $500,000. Funds are available through December 31, 2024. The funds are considered a soft second at 0% interest.There are some events that may cause the second lien to be called in to be paid in full. These include transferring the home to another person, if the home loan is refinanced, when the borrower leaves the ...
Comments
2