The City of Auburn has partnered with the North Auburn Housing Development Corporation (NAHDC) to increase homeownership opportunities for all citizens and to create neighborhood stability. Through this partnership, the Northwest Village Subdivision was developed. The Northwest Village Subdivision is an affordable housing subdivision funded by the Community Development Block Grant (CDBG) program sponsored by the U.S. Department of Housing and Urban Development (HUD). The subdivision development includes 29 single-family units.
The City of Auburn provides various financial incentives to make homeownership more affordable. The City will pay up to $3,000 in closing costs which alleviates some of the out-of-pocket expenses to be paid by the buyer. In addition, the NAHDC will provide a 30-year amortized loan at three percent (3%) for twenty percent (20%) of the sales price. Providing this subordinate loan decreases the monthly mortgage payment.
To apply for affordable housing, applicants must adhere to the following:
- Complete an application. Applications are available through the City of Auburn Community Development Division, located at ACDI (1500 Pumphrey Avenue, Auburn, AL 36832).
- Schedule an appointment with the Housing and Community Development Specialist to attend housing counseling sessions. To make an appointment, please call (334) 501-7280.
- Applicant must secure financing for at least eighty percent (80%) of the sales price.
- Applicant must have a minimum down payment of $500.
- Applicant must have reasonably good credit with no outstanding delinquent federal debt.
- Applicants MUST meet the HUD income limits.