Tell me it aint so.... Breaking News about HAP Program!!
By Jose Delgado
(Opes Advisors, INC.)
Many of you may already know what HAP stands for and how it helps First Time Homebuyers, but let me just go over the basics of what HAP is and then I will get into the reason of my blog today.HAP stands for Homebuyer Assistance Program. It is offered and available to First Time Homebuyers that are interested in buying their home within the city limits of Eugene. HAP offers as a Down Payment Assistance a loan in the amount of $10,000 at a 0% interest and payments are defered untill the property is sold, refinanced or the primary borrower is transfered out of title. If any of the said actions take place then the loan of $10,00 would have to be repaid back to the city of Eugene. There are certain income limits (depending on HouseHold size) that the borrower must be under and sales price as...