Buyers must income qualify to be eligible to purchase a home! Income limits are based on household size and annual household income after taxes. Income limits are listed below.
The Down Payment Assistance program is available for all 8 homes. If you qualify to purchase a home, you automatically qualify to receive $30,000 in down payment assistance after a purchase contract is signed. The down payment assistance comes as a second mortgage with the City of Beloit. Homeowners must live in the home for 5 years. At the end of 5 years, the $30,000 is forgiven in full. A promissory note between the buyer and the city is also required.
Subscribe to get the latest posts sent to your email.
