The Union County Affordable Housing Fund (UCAHF) was established in 1997 to encourage affordable homeownership in the County. Offering forgiveable 2nd and 3rd mortgages for applicants who qualify,
The preliminary program application can be downloaded here.
Quick Facts about the UCAHF:
Funding will be provided to purchase a home located within Union County
The funding is provided in th efollowing forms:
2nd mortages are capped at $35,000
3rd mortgages are capped at $10,000
All mortgages are forgiven at a rate of 10% of the original principal per year for 10 years.
There is no interest and no payments on the loaned capital. Repayment is only required if the property is sold or refinanced*.
Other restrictions and requirements apply, see the application for more details.