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More Homebuyer Help Funding Requested

The application period is getting underway for this year’s round of funding from what’s called the Community Development Block Grant Program. And this time, Nevada County Housing and Community Services Director, Mike Dent, says he’s asking the Board of Supervisors to allow his department to apply for up to 850-thousand dollars. He says 500-thousand would assist low-income homebuyers with down payments…

click to listen to Mike Dent

The Board has approved the request. Dent says supplying the down payment as a forgiveable loan would eliminate the need for buyers to obtain private mortgage insurance, reducing their monthly payments…

click to listen to Mike Dent

Dent says the grant could help 10 to 12 homebuyers. Meanwhile, the rest of the funds, or 350-thousand dollars, would assist with minor health and safety-related home modifications and repairs for older adults living in the county, through a partnership with the FREED Center for Independent Living. Dent says the application process usually takes around four to six months and the earliest the funding could be implemented is in six to eight months.

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