Down Payment Assistance

Down Payment Assistance es un préstamo condonable para compradores de vivienda en Condado de Lake, Illinois. Community Partners for Affordable Housing (CPAH), the HUD-certified housing counseling agency serving Lake County, Illinois, administers the Lake County Down Payment Assistance Program. Funded primarily through HUD HOME funds via Lake County Community Development. Provides up to $13,999 as a 0% interest forgivable 5-year second mortgage to first-time (3-year non-ownership) homebuyers purchasing 1-unit primary residences in Lake County. Loan forgives 1/60th per month; fully forgiven after 5 years. Up to $13,999 in down payment, closing-cost, and/or interest-rate-buydown assistance for qualified Lake County, Illinois homebuyers. Structured as a 0% interest forgivable second mortgage with NO monthly payments. The loan is forgiven on a 1/60th-per-month basis - if the borrower remains in the home as primary residence for 5 years (60 months), the entire loan is fully forgiven. Sale, refinance, or non-occupancy before the 5-year term triggers a prorated payback of the unforgiven balance. Los fondos provienen de Federal, HOME, Local y Nonprofit.

Down Payment Assistance ofrece hasta $13,999 de ayuda. Aporte del comprador de vivienda: Borrower must contribute $1,000 or 1% of purchase price (whichever is greater) of own funds. El programa se puede combinar con otras ayudas, sujeto a las reglas de cada una. Los montos son los máximos publicados por el programa, no una oferta: la agencia que administra el programa determina cualquier ayuda individual.

Down Payment Assistance se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Forgiven 1/60th monthly over 5 years y prorated unforgiven balance due if home is sold, refinanced with cash-out, transferred, or no longer borrower's primary residence before the 5-year term ends. La ayuda se registra con un gravamen en posición 2nd Lien. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Down Payment Assistance está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: Displaced homemakers and single parents who previously only owned a home with a former spouse may qualify. Sobre el crédito, el programa indica: Per CPAH and primary lender underwriting requirements. Se requiere un curso de educación para compradores de vivienda, a través de CPAH HUD-approved in-person homebuyer education class plus one-on-one housing counseling (both required as conditions of DAP funding). Requisito de residencia: Property must be in Lake County, Illinois and used as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or qualifying non-citizen with eligible immigration status (per HOME rule 24 CFR 92.205). Must NOT have owned a home in the past 3 years (displaced homemaker / single parent who only owned with former spouse exceptions apply). Property must be a 1-unit single-family home located in Lake County, Illinois with a maximum purchase price/value at or below CPAH's published cap (currently ~$304,950 - verify with CPAH; HUD's HOME 95% median for Lake County may be higher). Borrower must contribute $1,000 or 1% of purchase price (whichever is greater) of own funds. Borrower must complete CPAH's in-person homebuyer education class AND individual counseling. Property must be occupied as primary residence.

Down Payment Assistance limita el ingreso del hogar a $116,500. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Down Payment Assistance limita el precio de compra a $304,950. Los tipos de propiedad elegibles incluyen 1-unit single-family home (detached, condo, townhouse where allowed). La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Down Payment Assistance atiende a compradores de vivienda que compran en Condado de Lake, Illinois.

Las solicitudes de Down Payment Assistance se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Application directly with CPAH after completion of homebuyer education and one-on-one counseling; subject to annual Lake County HOME/CDBG allocation. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.