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Revere City trust expands first-time homebuyer assistance to 100% of AMI
Summary
The Affordable Housing Trust Fund Board voted unanimously June 11 to expand eligibility for its first-time homebuyer down payment assistance from 80% to 100% of area median income, citing available funds and slow application flow.
At its June 11 meeting, the Revere City Affordable Housing Trust Fund Board of Trustees voted unanimously to expand eligibility for its first-time homebuyer down payment assistance program from 80% to 100% of area median income (AMI).
Joe Gravalese, chairman of the board, said the change aims to use remaining earmarked funds and broaden the applicant pool after several months of slow applications. Gravalese said the trust currently has a limited number of…
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