|• The amount is based on the difference between the sales price of the home and
the buyer’s first mortgage and downpayment.
• All buyers automatically receive a minimum of $7,000
• Buyers may qualify for up to $50,000, depending on household income and the
price of the home
• Buyers pay nothing on this second mortgage as long as they live in their home
• The loan is forgiven over time, between 5 and 15 years, depending on its size.