Times Staff Writer

 

 
Applications are not being accepted for MyHome MyCoast at this time.
How Do I Get Started?
 
  • Download the INCOME DOCUMENTATION PACKAGE.
  • Please review the documentation and complete all forms that are applicable to your household.
  • Do not contact a partner lender for an appointment until you have completed your income package.
  • The completed package and the signed Consent  & Release form must be submitted to a partner lender for review.
  • The lender will review your income documentation and current mortgage readiness.
REMEMBER, YOU MUST COMPLETE ALL APPLICABLE FORMS IN THE INCOME DOCUMENTATION PACKAGE PRIOR TO CONTACTING A PARTICIPATING LENDER FOR AN APPOINTMENT. 

 Who can participate in MyHome MyCoast?

  • An individual who is not a current homeowner in any of the six eligible counties.
  • A renter interested in becoming a homeowner (cannot have owned a home in the preceding six months).
  • A person displaced or affected by Hurricane Katrina who wishes to purchase a home in the new six coastal counties.
  • A new resident to the six coastal counties.
  • An individual whose household income is less than 80 percent of the AMI based on the most recent HUD income limits. Please click here for the chart.

IMPORTANT: All new potential applicants must first receive mortgage pre-approval from a partner lender and submit all required documentation to have total household income calculated to determine the household's AMI and program eligibility. Only applicants with total household income at or below 80% AMI and lender pre-approval will be allowed to proceed into the program.


What are the Responsibilities of the Applicant?
  •  Must complete the required counseling and education requirements with an approved counseling partner assigned by GCRC prior to entering into a sales contract to purchase a home.
  • Must maintain required structure insurance to include homeowners, wind and if applicable flood insurance.
  • Must contribute a minimum of $500 toward the purchase of the home.
  • If the home is sold within five years, the down-payment-assistance grant must be repaid.
  • Must submit an executed sales contract within 45 days from the date indicated on the Completion of Counseling form or applicant is deactivated in the program.
  • The executed sales contract date cannot be prior to the completion date indicated on the Completion of Counseling form.
  • Circumventing the program process steps may result in disqualification from the program.

What Lending Institutions are Participating?

Applicants must use a participating lender AND approved closing agent for MyHome MyCoast. Click here for the approved CLOSING AGENT LIST.   
 

For a printable pdf of the webpage, click here.

                                            
Participating lenders, please click here.                                         

 

 

 

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