Columbia Heights Down Payment Assistance
| FLASH: Make Heights Your Home Columbia Heights Down Payment Assistance Program |
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Columbia Heights: "Make Heights Your Home" Down Payment Assistance
 The city of Columbia Heights down payment assistance program offers home buyers an interest free loan of up to $6,000 for those purchasing foreclosed homes (or those that have Sheriff's Sales scheduled) with a FHA 203K (Rehab) loan*.*So what are the details? The Make Heights Your Home program is designed to help individual home buyers (not busines entities) obtain and rehab foreclosed homes in the city of Columbia Heights. These no interest loans are to be used for down payment assistance on 3.5% of acquisition costs up to $6,000. The loan will be forgiven in full if the borrower lives in the property for 10 years and a prorated repayment will apply to homeowners who live in the home for at least 4 years. These funds must be used in conjunction with an FHA 203K mortgage to purchase a single family detached property (within the city of Columbia Heights) with at least $10,000 in repairs. Rehab or renovation work must be completed by a state licensed contractors. The borrower must occupy the property as their principal homesteaded residence. There are no income requirements. Buyers need not be first time homebuyers. Download the flyer here for more details.
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