Portsmouth program aids first-time home buyers.The city of Portsmouth's first-time home buyer program, HomeTown home·town n. The town or city of one's birth, rearing, or main residence. Noun 1. hometown - the town (or city) where you grew up or where you have your principal residence; "he never went back to his hometown again" , provided down payment and closing cost assistance to six households during the last year, the city recently announced. The HomeTown Program, which is funded through an endowment A transfer, generally as a gift, of money or property to an institution for a particular purpose. The bestowal of money as a permanent fund, the income of which is to be used for the benefit of a charity, college, or other institution. , provides up to $50,000 in closing cost and down payment assistance to eligible first-time home buyers. In addition, first-time home buyers benefit from reduced rate first mortgage financing from the New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). Housing Finance Authority and Citizens Bank. HomeTown Program participants have included individuals and families who are employed in the service sector as educators and as employees of local non-profit agencies. Seventy-four first-time home buyers have been assisted through the city's program since the late 1980s. In order to be eligible for assistance through the program, an individual or family must have lived in Portsmouth Portsmouth, city, England Portsmouth, city (1991 pop. 174,218) and district, Hampshire, S England, on Spithead Channel. The district includes Portsea (naval station), Southsea (residential district and resort), and the old town of Portsmouth proper. for at least two years or have, in the past, resided in Portsmouth for 10 years and currently live within a 30-mile radius of the city; earn an eligible income and be a first-time home buyer. Full-time full-time adj. Employed for or involving a standard number of hours of working time: a full-time administrative assistant. full city employees who meet income requirements also are eligible to apply. All successful applicants must attend a home buyer education course. |
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