Established as a result of the 2007 contract fight, the Culinary and Bartenders Housing Partnership has helped over 1,700 Culinary Union members purchase their first homes.
The Housing Fund has provided more than $17.7 million in free down payment assistance and closing costs. If you are a worker covered by the Culinary and Bartenders’ union contract who has at least 2,000 hours of service over a three-year period, then you are eligible for the housing benefit that helps workers obtain the dream of homeownership.
The Culinary and Bartenders Housing Partnership provides the following benefits:
* Homebuyer education and pre-purchase counseling in English and Spanish
* Post-purchase workshops (in English & Spanish), including foreclosure prevention
* First-time homebuyer down payment assistance loans
The Culinary and Bartenders Housing Partnership provides up to $20,000 in assistance to purchase your first home!
Key elements of the program include:
- The down payment assistance loan up to $20,000 has a 0% interest rate.
- You do not have to pay back the loan unless you sell, rent, or refinance the property.
- If you sell, rent, or refinance you pay the loan back at face value with no interest charges.
- You must live in the house you buy as your primary residence (not as a second or vacation home).
- You must not have owned a home within the past three years.
- You must contribute 3.5% down payment for an FHA mortgage.
- You must contribute 1% of the purchase price for a conventional mortgage.
- Your combined household income can't be greater than $92,010 for a 1-3 persons household. For a household with 4 or more persons, your combined household income can't be greater than $106,250.
- You will be required to complete an 8-hour homebuyer education course and a one-on-one counseling session at no cost to you.
- You must qualify for a mortgage - you may use a lender of your choice, or the Housing Program can provide you with a list of participating lenders to assist you. Participating lender list can be located online here.
- Funds for loans are limited and will be granted on a first come first serve basis.
Foreclosure Prevention Assistance:
Please contact the Housing Programs department, if you own your own home and you are:
- Currently behind in your mortgage payments.
- Received a notice of loan default or breach in the mail.
- Received a notice of foreclosure sale of your home.
Contact the Housing Partnership: (702) 844-8000 or go online.