Homebuyer Assistance

Homebuyer Assistance es una subvención para compradores de vivienda en Romeoville, Illinois. The Village of Romeoville Homebuyer Assistance program is delivered through the multi-jurisdictional Monarch Assist Homeownership Program. Eligible first-time homebuyers purchasing a primary residence within Romeoville receive (a) a below-market fixed-rate first mortgage plus a non-repayable cash gift equal to 3% of the first-mortgage amount applied toward down payment and closing costs, and (b) an MCC providing an annual federal income tax credit equal to 25% of mortgage interest paid (capped at $2,000/year) for the life of the loan. The program is funded through tax-exempt mortgage revenue bonds and IRS MCC authority. Two-pronged homeownership benefits via the Monarch Assist Homeownership Program (sponsored by the Village of Romeoville and partner Illinois communities): (1) below-market fixed-rate first-mortgage loan plus a non-repayable cash gift equal to 3% of the first mortgage amount that may be used for down payment and closing costs. and (2) federal Mortgage Credit Certificate (MCC) entitling the borrower to an annual federal income tax credit equal to 25% of the mortgage interest paid (capped at $2,000/year) for the life of the loan. 640 minimum FICO per Assist program guidance. Los fondos provienen de State Tax-Exempt Bonds, Federal MCC y Local Government.

Homebuyer Assistance está estructurado como una subvención, así que no se devuelve. El reembolso se activa por 3% cash gift is non-repayable (not a loan) y MCC tax credit continues for the life of the loan as long as the property remains the borrower's primary residence and the loan is not refinanced. Federal tax-credit recapture may apply if the property is sold within 9 years and certain income/gain thresholds are exceeded (IRS rules). La ayuda se registra con un gravamen en posición 1. 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.

Homebuyer 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: First-time homebuyer = no homeownership in prior 3 years; targeted-area exception waives first-time-homebuyer rule per IRS targeted-area definitions. Sobre el crédito, el programa indica: 640 minimum (Monarch Assist guidance; first-mortgage product credit-score minimums also apply). Se requiere un curso de educación para compradores de vivienda, a través de HUD-approved housing counseling agency; pre-purchase homebuyer education required (Monarch Assist requirement). Requisito de residencia: Property must be located within the Village of Romeoville, IL, and serve as borrower's principal residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. Applicant must not have owned a home in the prior 3 years (first-time-homebuyer rule, with exceptions per program). Household income within Monarch Assist non-targeted area limits ($112,100 1-2 persons / $128,915 3+ persons) or targeted-area limits ($134,520 1-2 persons / $156,940 3+ persons). Property must be a new or existing owner-occupied single-family home, townhome, or condominium within the Village of Romeoville and must serve as the borrower's principal residence (no refinances). Purchase price must be within Monarch Assist limits ($510,939 non-targeted / $624,481 targeted). Borrower must qualify for first-mortgage loan and use property as primary residence. 640 minimum FICO per Assist guidance.

Homebuyer Assistance limita el ingreso del hogar a $156,940. 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.

Homebuyer Assistance limita el precio de compra a $624,481. Los tipos de propiedad elegibles incluyen Single-family detached, Townhome y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Homebuyer Assistance atiende a compradores de vivienda que compran en Romeoville, Illinois. El programa se dirige a áreas específicas: Targeted area designations follow IRS Section 143(j) targeted-area definitions; higher purchase price and income limits apply in IRS-designated targeted census tracts within Romeoville.

Las solicitudes de Homebuyer 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 Borrower contacts Monarch Assist program administrator (Angela Conover, 312-664-5656) and a participating lender; reservations made on a first-come, first-served basis via the Monarch Assist portal. 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.