City of Springfield Down Payment Assistance

The City of Springfield Down Payment Assistance Program is designed to help first-time homebuyers or displaced persons purchase their primary residence. Funding is provided by HUD in order to help offset the cost of down payments and/or closing costs associated with the mortgage process.

Available Assistance
With the City of Springfield Down Payment Assistance Program, eligible applicants receive up to $5,000 in assistance funds. This money comes in the form of a zero-interest loan with no payments, forgiven over a 10-year period.
 
Eligibility Requirements
In order to be eligible for the City of Springfield Down Payment Assistance Program, all applicants must be first-time homebuyers who have not owned a home in the previous three years. Applicants must have a total household income that does not exceed 80% of the AMI (limits shown below). They must also complete a HUD-approved homebuyer or homeowner course and provide a copy of the certificate of completion to the City of Springfield.
 
Property Guidelines
Any home purchased with funds from the City of Springfield Down Payment Assistance Program must serve as the applicant’s primary residence. It must fall within the maximum purchase price limit of $130,000 and must be located within the program’s target area.
 
Income Limits
1-person household: $35,250
2-person household: $40,250
3-person household: $45,300
4-person household: $50,300
5-person household: $54,350
6-person household: $58,350
7-person household: $62,400
8-person household: $66,400
 
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.