CPA Projects – Detailed Report

This proposal seeks to provide four $50,000 0%-interest 30-year deferred payment loans as mortgage subsidies to write down home buying costs for low to moderate income households to assist with purchases of a home in the Town of Amherst.  The program also includes first time homebuyer counseling to 30 households at various stages of the home buying process.  The high cost of housing in Amherst requires a higher subsidy amount than traditional programs.  These funds will be recaptured in the event of a sale, deed transfer, or refinancing.