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 promote sustainable homeownership in Madison County for lower income households. As the Program Administrator for over 20 years, CAP has assisted 400+ families in the purchase of their 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.
In exchange for full program participation, homebuyers will benefit from a 20-percent 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 (e.g. Maximum Income for household size of 4 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
To find out more about our program, and to inquire further on how to apply, contact our Housing Counselor, Jessica Ginney, at (315) 697-3588 Ext. 42.
Established in 1983, CAP is the only not-for-profit, non-governmental agency in Madison County with a mission to serve the low-income community and build resiliency in families. CAP serves individuals, families, and the community through a variety of programs. For more information about CAP programs call (315) 684-3144, visit our website www.capmadco.org and visit us on Facebook.