Home Down Payment Assistance Program Services

The vendor is required to provide home down payment assistance program services (DPA) from experienced agencies for the administration of a home buyer counseling and purchase program.
- The purpose of this program is to provide affordable home ownership to low- and moderate-income persons utilizing home program funds.
- Initiate loan servicing process, assisting eligible homebuyer with available financing options
- Prepare all closing documents, attend closing with homebuyer, if necessary
- Conduct an open random selection process of program eligible clients for home purchase
- Prepare and submit regular data and financial reports
- Provide feedback to the city community development department.
- Provide home match of 25% of home funds expended under this contract.
- Respond to inquiries regarding the DPA program
- Promote and market homes available for purchase 8.
- Facilitate the application process, to include but not limited to:
• Send written information and applications by mail or email
• Accept and screen applications for program requirements and eligibility
• Pre-qualify minimum five (5), maximum fifteen (15) prospective homebuyers
• Order credit check
• Conduct mandatory homebuyer and credit counseling education classes, providing each applicant with a minimum eight (8) hours, maximum twenty (20) hours of MSHDA and HUD certified pre-purchase.
- Contract Period/Term: 12 Month
- Questions/Inquires Deadline: March 20, 2025