HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program ist ein aufgeschobenes Nachrangdarlehen für Eigenheimkäufer in Richmond, Virginia, verwaltet von Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA). Housing Opportunities Made Equal of Virginia (HOME of VA), a HUD-approved nonprofit founded in 1975, administers the Virginia DHCD HOMEownership Down Payment & Closing Cost Assistance Program (HUD HOME funded) as the regional provider for the Richmond metro area, serving the City of Richmond and the counties/cities of Chesterfield, Colonial Heights, Goochland, Hanover, Henrico, Hopewell, and Powhatan. The DPA is a deferred, 0% second loan for income-eligible first-time homebuyers at or below 80% AMI, providing funds for a required full house inspection, down payment, and closing costs. Assistance is up to 10% of the sales price (up to 15% in DHCD-designated high-cost areas) plus up to $2,500 toward closing costs, to a maximum of $40,000, secured by a deed of trust for a 5- or 10-year affordability period and forgiven if the home remains the buyer's principal residence. HOME of VA pairs the assistance with free one-on-one pre-purchase counseling, group homebuyer education, money-management and credit-recovery classes. Up to 10% of sales price (15% in high-cost areas) toward down payment. Up to $2,500 toward closing costs. Funds for required full house inspection. Deferred 0% loan, fully forgiven after affordability period. Free pre-purchase counseling and homebuyer education. Die Mittel stammen von U.S. HUD HOME Investment Partnerships Program, administered by Virginia DHCD.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program bietet zwischen $1,000 und $40,000 Hilfe. Förderstufen: Up to 10% of sales price for standard localities; up to 15% for DHCD-designated high-cost/chronically economically depressed localities. Eigenbeitrag des Eigenheimkäufers: Borrower must contribute 1% of the sales price from personal funds if income is 50%-80% AMI; if income is below 50% AMI, contribution is $500 (receipts required; may include appraisal, insurance, inspection, credit report, closing costs). Das Programm kann mit VIDA, ARS, Virginia Housing DPA, Virginia Housing SPARC, FHLB programs, USDA programs, Freddie Mac/Fannie Mae assistance, lender/employer/housing-authority programs kombiniert werden. Die Beträge sind die vom Programm veröffentlichten Höchstbeträge, kein Angebot – Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA) entscheidet über jede einzelne Förderung.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program wird nach 5 Jahren erlassen, ein Eigenheimkäufer, der so lange bleibt, zahlt also nichts zurück. Die Rückzahlung wird ausgelöst durch Sale or transfer of title (voluntary or involuntary), or failure to occupy as principal residence, during the affordability period triggers recapture/repayment of the entire outstanding HOME investment from available net proceeds. Die Hilfe wird mit folgendem Rang eingetragen: Second (silent second / deferred loan behind first trust mortgage). Erlass- und Rückzahlungsbedingungen legt das Programm fest, und sie können sich ändern – prüfen Sie sie vor dem Antrag auf der offiziellen Programmseite.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program steht Erst-Hauskäufer und Eigenheimkäufer, die die Immobilie als Hauptwohnsitz bewohnen werden offen. „Erstmalig“ hat hier Ausnahmen: First-time homebuyer = never owned a home OR has not held primary ownership in a principal residence within the most recent 3-year period. Mobile homes titled as personal property and investment/inherited property not occupied as principal residence in the last 3 years still qualify the buyer as first-time. Zur Kreditwürdigkeit gibt das Programm an: DHCD HOME DPA requires a median FICO of 620 with at least 3 open, current trade lines (alternative credit considered with 3 trades). (Unconfirmed: HOME of VA does not publish a separate credit-score minimum on its homeownership page.). Ein Kurs für Hauskäufer ist Pflicht, über HOME of VA's own homebuyer education course (HUD-certified); also accepts Virginia Housing, NeighborWorks, or HUD-certified agency courses. Wohnsitzanforderung: Property must be purchased in HOME of VA's service area: Chesterfield, Colonial Heights, Goochland, Hanover, Henrico, Hopewell, Powhatan, or City of Richmond. Loan TERM: deferred 0% second with 5-year affordability period for $1,000-$14,999 and 10-year for $15,000-$40,000; fully forgiven at end of term; not assumable. Buyer must have at least $40,000 combined annual household income, complete HOME of VA homebuyer education and counseling, have a 90-day minimum work history, pay off collections of $1,000+ and all judgments before closing, and hold cash assets below 10% of sales price. No cash back at closing.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program begrenzt das Haushaltseinkommen auf 80 % des Median-Einkommens der Region, das je nach County und Haushaltsgröße variiert. Household income must be at least $40,000 combined annual income AND at or below 80% of HUD AMI per HOME of VA's published chart: 1 person $63,600; 2 persons $72,650; 3 persons $81,750; 4 persons $90,800; 5 persons $98,100; 6 persons $105,350; 7 persons $112,600; 8 persons $119,900. Die Grenze gilt für das gesamte Haushaltseinkommen, nicht nur für das des Kreditnehmers. Das Programm nennt eine maximale Haushaltsgröße von 8. Die Werte für das Median-Einkommen der Region veröffentlicht HUD, und sie werden jährlich aktualisiert. Prüfen Sie daher die aktuelle Tabelle für das County, bevor Sie sich auf eine Zahl verlassen.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program begrenzt den Kaufpreis so: Home value may not exceed 95% of the area median sales price (HUD 203(b) limits), established annually by HUD per locality. Zu den förderfähigen Immobilienarten gehören Single-family detached (one unit), Duplex/Triplex/Fourplex (assisted unit individually sold and deeded, owner-occupied), Townhome, Condominium, Modular home und Manufactured home (post-June 15, 1976; permanent utility hookups; owned land or long-term lease). Neubauten sind förderfähig. Fertighäuser (Manufactured Homes) sind förderfähig.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program richtet sich an Eigenheimkäufer, die in Richmond, Virginia kaufen.

Anträge für HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program laufen über Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA), die die aktuellen Bedingungen und die Antragsschritte auf ihrer eigenen Website veröffentlicht. Mittel werden reserviert über First come, first served; funds reserved only after lender pre-approval and DPA eligibility. Apply via HOME of VA online homeownership application (allow up to 10 business days to process). Hey Prescott ist kein Kreditgeber und nimmt keine Anträge an. Diese Seite beschreibt das Programm, damit ein Eigenheimkäufer damit zu einem Kreditgeber oder einer Wohnberatung gehen kann.