The Downpayment Assistance Program is intended to provide financial assistance to low- to moderate-income (LMI) households, acquiring their first home and to encourage successful, sustainable homeownership. Funds provided may be applied toward closing costs, downpayment, or in certain cases, a subsidy on the cost of a home such that it makes the home affordable.

This program is considered a “forgivable loan,” which is not to be confused with a “grant.” The City employs a Recapture provision that protects any HOME funding or direct assistance to the buyer that is created as a result of any HOME investment, and protects this amount for the applicable affordability period.

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