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Help may be available for home downpayment

Local families applying for a home loan, who are short of the downpayment, may qualify for assistance free of charge.

A local family foundation, which has asked to remain anonymous, will be working with local banks to provide "The Gift Letter" to a deserving young family in need of help.

There's a lengthy written application to fill out, due back to the bank by October 1, 2021. The foundation directors will collect and read the applications, then make the determination as to who will receive the free gift.

This program is only for home loans, no other types of loans.

Whoever is selected for the financial assistance of the downpayment will be given the amount directly along with a notarized letter signifying that the money is gifted with no expectation or obligation ever to pay it back.

This news is shared on Columbia Magazine to help the foundation family raise awareness about the opportunity, we have no other details on the program.

The next step for anyone who wishes to be considered is to go in person to any Adair, Taylor, or Russell County bank and request the application for "The Gift Letter." The participating bank will be able to provide instructions on filling it out and returning it.

This story was posted on 2021-09-12 00:09:09
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