City of Palatka: Turning Renters into Homeowners

Earlier in April, the City assisted Ms. Kathy Melton with the purchase of her new home. As of today, the City has helped another five buyers purchase their own homes within Palatka, bringing the total to six new homeowners.

Since taking over as Interim City Manager and now officially City Manager, Marcia Carty has emphasized doing more for the City of Palatka. The City was previously awarded an Affordable Housing Grant to support income-eligible residents in achieving homeownership. Working alongside other City staff and Christall Azcarate of Azcarate Consulting Group, Ms. Carty launched the Down Payment Assistance Program, one of the grant's required tasks.

With the funding provided by this grant, the team created three programs: a Home Repair Program, a Down Payment Assistance Program, and an initiative to build new affordable homes within the City. For each program, the team developed policies and procedures, forms, and implementation plans.

Under the Down Payment Assistance Program, the City was only required to assist one family. However, Ms. Carty wanted to go beyond that goal and help as many families as possible.

The Down Payment Assistance Program officially launched in early March, and as of today, the City of Palatka has successfully closed six home loans, with more currently in process - helping turn dreams into reality.

Each approved applicant received $20,000 in down payment assistance, reducing their mortgage amount and making homeownership more affordable and within reach. To qualify, buyers must purchase a home within the City of Palatka, have at least a 620 credit score, verifiable income for 24 months (about 2 years), and complete a certified HUD first-time homebuyer course.

To learn more about the program, please contact Azcarate Consulting Group at (386) 546-5802.