St lawrence county first time home buyer

The First Time Home Buyers Program (FTHB)

The First Time Home Buyers Program (FTHB) is designed to assist low-to-moderate income families who are purchasing a residential, owner-occupied property in the City of Lawrence. The City, through the HOME Partnership Investment Fund can assist eligible homebuyers with down payment and closing costs. 

Financial assistance is available in the form of a zero-interest deferred loan (second lien) with no monthly payment for the life of the loan. This loan is forgivable as long as Buyer/Borrower is in compliance with the affordability restriction and the affordability period has expired.  

The affordability restriction requires the Buyer/Borrower to reside in the property as their main residence, maintain the property and not take out any equity out of the property for the entire affordability period. The affordability period is based on the awarded amount. If Buyer is awarded under $14,999, a five (5) years affordability restriction will be recorded. If Buyer is awarded $15,000 to $25,000, the affordability restriction is ten (10) years.  

Payment of the HOME loan is due upon the sale of the house, refinancing to cash-out, Home Equity Loan or Line of Credit, transfer of title or if homebuyer is in default of the terms and conditions of the senior loan and/or city loan during the affordability term. There will be a recording and preparation fee for any subordinations (subject to the Subordination Policy of the Community Development Department) and/or discharges. 

The City of Lawrence FTHB Program will provide qualified homebuyers with up to 5% of the purchase price for the use of down payment and eligible closing cost, not to exceed $25,000 in financial assistance.  

To qualify for this deferred loan, applicants must: 

• Be a First Time Homebuyer 
• Meet the HUD-HOME income limit guidelines and HOME Value Limits 
• Have a CHAPA-approved Homebuyer and Landlord Education Certificate 
• Have a passing City Property Inspection (At no cost to buyer) 
• Meet the City of Lawrence FTHB program’s affordability ratio criteria 
• Cannot have cash assets of more than $25,000 (excluding retirement savings) 
• Contribute 1.5% of the purchase price for the use of down payment or a minimum of $2,000 on purchases prices below $100,000 
• Purchase an owner-occupied property in the City of Lawrence and occupy it as the owner’s principal residence 

Applicants are encouraged to meet with the Homeowner Project Officer to review program criteria and application process before applying. Applications can be mailed or picked up at the Community Development Department located at 12 Methuen Street, Lawrence, MA 

Applicants can come in for an intake session once they have a pre-approval letter from a mortgage lender. Applicants should apply immediately after signing an offer and/or Purchase & Sale Agreement. The application process can take up to 45 days to complete. Only a completed application package, (with all the required supporting documents) will be accepted and processed. 

Our department will review applications for consideration of financial assistance in the order in which we receive them, on a “First-qualified”, “First-come”, “First serve” basis. Priority will be given to person (s) who live and/or work in the City of Lawrence. 

For more information please contact Marlene Ferrer at 978-620-3531 or email her at MFerrer Email. 

What is Tenant Based Housing?

Tenant Based housing assistance is where a Housing Choice Voucher is tied to a specific family within the program.  A Tenant Based Housing choice voucher allows a family to move to a different apartment after a year of participation on the Housing Choice Voucher Program

***Restrictions on moving may apply, please contact one of our representatives with any questions***

What is Project Based Housing?

Project Based housing assistance is where a voucher is attached to specific apartment within the county.  Unlike a Tenant Based Housing Choice Voucher a family will only be assisted for the time they reside within the specific Project Based unit.

How do I apply? 

You can apply for assistance through the Housing Choice Voucher Program by simply filling out the application and submitting it to St Lawrence County CDP.  You may apply for the Tenant-Based list or the Project-Based list

Where am I on the wait-list? 

Positioning on the wait list has a few main factors and cannot be narrowed down to a specific number or position.  The biggest factor in determining where you may lie on the wait-list is the time the Housing Choice Voucher Program received your application.  The other factor is your income.  The Housing Choice Voucher Program has an income targeting requirement where 75% of new admissions to the program must be given to families whose combined income is at 30% or below the median income for the county.  This is to ensure that families who are in the greatest need of assistance are receiving it.

How do I report a change in address when I am on the wait-list? 

It is very important to report a change in address to maintain your position on the wait-list.  A change of address MUST be submitted to the program office in writing.

How will I know I have been selected from the wait-list? 

You will receive a letter at the address you have provided to the Housing Choice Voucher Program informing you that you have been selected from the wait-list.  The letter will state a requirement to attend an eligibility screening with a program representative, and will detail the required attendees and materials you will need to bring to the meeting.  Failure to respond to the letter may result in you being determined ineligible.

How long do I have to find an apartment? 

If you have been determined eligible for Housing Choice Voucher Program Assistance you will be administered a voucher.  Once you have been given a voucher you will have a 60-day time frame where it will be your responsibility to find an apartment.  The apartment must fall within a reasonable rent for the area and pass a Housing Quality Standard Inspection.

***Contact a housing representative for guidance on reasonable rent requirements for your household***

What is a Housing Quality Standard Inspection (HQS)? 

The purpose of HQS is to establish minimum criteria necessary for health and safety for occupants of housing assisted under the HCV program.  Each dwelling is inspected prior to a tenant moving into and must pass before a HAP contract is executed between the landlord and CDP.  Dwellings are inspected annually there after to ensure the unit continues to meet HQS guidelines.  Units may also be inspected at the request of HUD, at the request of a tenant/landlord, or for quality control purposes.

Do I need to report changes to my income?

While your income is reported to our office annually as part of your re-certification any change in your income MUST be reported to our office within 14 days of the change.  Once reported program staff will work with the participant to obtain the documentation needed to verify the change.  If a tenant fails to report income to program staff they may be subject to repayment of HAP made to the landlord on their behalf or program termination.

***please contact a program representative with questions about what is included in your income***

Do I need to report changes to my household composition? 

Any change to your household MUST also be reported to program staff within 14 days of the change.  Once notified our staff will guide you on the required documentation needed to verify the change.

For any other questions regarding your status with the Housing Choice Voucher Program, please contact our office at 315-386-1102