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Council approves parameters for down-payment assistance; program limited to Richland County homes
Summary
The Affordable Housing ad hoc committee recommended and the council approved parameters for a county down-payment assistance program: eligible dwellings must be in Richland County, a closing-cost match of up to 3% based on median value, and up to 20% in down-payment assistance; staff clarified the 3% relates to loan value/closing-cost guidance.
Richland County Council on Nov. 4 approved committee recommendations setting parameters for the county’s down-payment assistance program.
The Affordable Housing ad hoc committee recommended that eligible dwellings must be located in Richland County, that there be a closing-cost match up to 3% based on the county’s median value, and that the program provide up to 20% in down-payment assistance. The council voted…
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