The applicant household is required to be at or less than 80% or 100% of the Springfield (AMI) as published by HUD for total Gross Annual Household Income. Gross Annual Household Income includes all income prior to any deductions from all adult household members. This lottery will use the income limits in effect, currently 2025 income limits (see below).

At the time eligibility is determined, homebuyers must have assets of less than $150,000, excluding up to $250,000 in any IRS-recognized retirement plan (such as IRAs, Roth IRAs, 401(k) Plans, 403(b) Plans, and other IRS-recognized private and government employer retirement plans, and retirement plans for self-employed individuals).

All qualified applicants must be first-time homebuyers and must not have had an ownership interest in any real estate for the preceding 3 years, with exceptions for: displaced homemakers, single parents, household where at least one household member is 55 or over.

All qualified applicants must qualify for a mortgage with requirements that include:

1. Fixed interest rate through the full term of the mortgage

2. Current fair market interest rate

3. From a financial institution

The objective of these State subsidy programs is to provide housing to appropriately sized families, and to that end, there will be preference given in the lotteries with respect to the number of bedrooms needed. This home is intended for larger households, therefore no household requiring one bedroom will be accepted in the lottery.

Must be completed before time of purchase. HHA offering classes in English and Spanish in May and June

The buyer must provide a down payment of at least 3%; half must come from the buyer’s own funds (as evidenced in the application materials).