This Homebuyer Cash Assistance Program provides cash at closing for homebuyers wanting to buy a home in and relocate to the City of McPherson. Eligible applicants will receive the City’s Homebuyer Cash Assistance Program grant as follows:
• One-time, $5,000 Cash Payment – Successful applicants will receive a one-time payment of five thousand dollars ($5,000) made out to the Closing Agent on behalf of the successful applicant, provided the home and prospective buyers are eligible.
Eligibility to Apply for Payments: Homebuyers must satisfy the following criteria:
• Homebuyer is purchasing a residence within the McPherson City Limits.
• Homebuyer does not currently own a residence in the City of McPherson and must not have owned a home within the McPherson City Limits for at least thirty of the thirty-six months prior to applying for HCAP.
• Home being purchased must be a single-family, owner-occupied home. This includes stand-alone housing or a home that is part of a multi-unit structure (such as an owner-occupied condominium) as long as appropriate fee title to the residence is acquired.
• The property is located in a platted development, within the City’s corporate limits, and all special assessment and general tax obligations on all buildable lots (meaning platted lots currently served by existing street, utility and drainage infrastructure sufficient to support residential structures that could be constructed thereon) within such development are paid current.
• All special assessment and general tax obligations on the property for which application is made must be current as of the date of closing.
• Homebuyer may not also utilize the City’s NCHIP program.
Application Deadline: The City Clerk or designee must receive the completed application and all required documentation ten (10) business days prior to closing. Failure to provide all required documentation and/or timely notice may delay payment or disqualify your application.
• As part of the application process, the applicant(s) must furnish a properly completed IRS Form W-9 and must complete the Application/Agreement which will provide evidence satisfactory to the City of HCAP eligibility.
Funding Availability: The City shall set aside $50,000 per calendar year in HCAP funding, to be allocated on a first-come, first serve basis. The City may increase or decrease funding levels, as determined by the Governing Body, based on application quantity and program effectiveness. Applications submitted after funds are exhausted will be considered in the following calendar year.
Program Period: Program renews upon approval of Annual Budget (Ordinance 3450). Please submit applications to housing@mcpcity.com or call the City at 620-245-2535.
