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Home purchase or rehabilitation financing assistance – In this type of activity, the HOME program may provide a down payment for the purchase of a housing unit to a financial institution, thereby reducing the monthly mortgage payment of the loan balance for a low-income family that otherwise could not afford the monthly payment. The down ...
The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development. Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October ...
Pasco is the seat of Franklin County, while the other two cities are located in Benton County. In 2010, Kiplinger rated the Tri-Cities among the Top 10 best places to raise a family, and CNN/Money ranked the Tri-Cities one of the top 10 best bets for gains in housing value, due to its relatively stable economic conditions since the early 2000s. [6]
Surging apartment construction added more than 530 new apartments to the Tri-Cities between mid-2022 and 2023, according to CoStar Group, a real estate research firm.
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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.