What if I decide to sell my home or I end my employment?

Should you decide to sell your home prior to the 5-year residency requirement being met, the remaining unforgiven loan balance must be paid through the loan proceeds at your settlement.

If you move out of the home or if you are no longer employed with the institution which qualified you for participation in the program, the remaining unforgiven amount will be converted to a loan at an interest rate of 3%. Monthly payments will be required until the balance has been paid in full.

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1. I read in the guidelines that there is a service fee of $200 required for the program. How do I get payment to the county?
2. How soon can we go to settlement after approval?
3. My lender said that I could possibly get my earnest money deposit back at closing. Is this allowed?
4. I am purchasing a condo with mandatory country club membership and fees. May I use PEG funds to finance these expenses?
5. What if I want to refinance in the future to get a lower rate?
6. What if I decide to sell my home or I end my employment?