Last chance to make applications for the First Time Homebuyer’s Program

Last chance to make applications for the First Time Homebuyer’s Program in Madison County. Community Action Partnership for Madison County is pleased to announce that we are still accepting applications for the First Time Homebuyer’s Program.

The goal of this program is to responsibly promote homeownership in Madison County for lower income households. CAP has been the program administrator for more than 20 years and has assisted 400-plus families in the purchase of their first home.

We asked a few of our recent first-time buyers to briefly describe their experience working with this program:

“Absolutely amazing and life changing! The program gave me the opportunity to have stability in my children’s lives and take the next step forward in purchasing my first home. I could not be more proud of myself!”

“CAP is a great program. If it wasn’t for the first time homebuyer’s grant and all of our homebuyer counselor’s help and knowledge, we wouldn't have been able to afford our first home!”

Program applicants do not need to live in Madison County to apply but they must purchase their home in Madison County. Our certified Housing Counselor will provide 1:1 Homebuyer Education, Homeownership Counseling as well as ongoing support throughout the entire home purchase process.

The program participants benefit from a 20% down payment on their home purchase price and most, if not all, closing costs will be covered.

If you fall within HUD’s definition of a First Time Homebuyer and are in need of down payment assistance, this program may be for you! Eligibility requirements include but are not limited to:

  • Meet income requirements based on HUD’s low-income limits (Example: maximum income for household size of four is $55,350)
  • Established positive credit history for at least 12-24 months with a credit score of 650+
  • Have at least two years of stable employment history & income in same/similar field
  • Have a dedicated homeownership savings account with a minimum of $2,500.00

To find out more about our program, and to inquire further on how to apply, please contact our Housing Counselor at (315) 697-3588 Ext. 42.

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