West Cook Advantage Program (WCA)

West Cook Advantage Program (WCA) es un préstamo condonable para compradores de vivienda en Oak Park, Illinois. The West Cook Advantage Program (WCA) is administered by the West Cook Homeownership Center (WCHC), a program of the Oak Park Regional Housing Center (OPRHC). WCA pairs the purchase of fully-rehabbed homes in five western Cook County suburbs (Bellwood, Berwyn, Forest Park, Maywood, Oak Park) with up to $10,000 in forgivable down payment assistance. The DPA is recorded as a 5-year, 0% interest forgivable second mortgage with monthly forgiveness; buyers must be at or below 120% AMI, qualify for a 30-year fixed Conventional/FHA/VA mortgage, and complete WCHC homebuyer education. Up to $10,000 in down payment assistance (combination of forgivable loan and grant funds) for moderate-income buyers purchasing fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park. Structured as a 0% interest forgivable second mortgage recorded at closing and forgiven monthly over 5 years (1/60th per month). Buyer pays nothing on the assistance as long as they live in the home as primary residence. sale, refinance, or non-occupancy before the 5-year term ends triggers a prorated payback of the unforgiven balance. Los fondos provienen de Nonprofit, Local, Federal y CDBG.

West Cook Advantage Program (WCA) 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 per month 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 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.

West Cook Advantage Program (WCA) está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: Per West Cook Homeownership Center and primary lender underwriting (typically 620+). Se requiere un curso de educación para compradores de vivienda, a través de West Cook Homeownership Center HUD-approved homebuyer education class and one-on-one housing counseling (required prior to WCA closing). Requisito de residencia: Property must be in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park (Cook County, IL) and used as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or qualifying non-citizen with eligible immigration status. Property must be a fully-rehabbed home participating in the West Cook Advantage rehab program, located in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park. Buyer must qualify for a 30-year fixed Conventional, FHA, or VA mortgage. Maximum household income at or below 120% Chicago AMI. Buyer must contribute a minimum of $1,000 of own funds. Buyer must complete West Cook Homeownership Center HUD-approved homebuyer education and one-on-one counseling. Property must be occupied as primary residence for full 5-year forgiveness term to realize full forgiveness benefit.

West Cook Advantage Program (WCA) limita el ingreso del hogar al 120% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 120% of Chicago-Naperville-Elgin MSA AMI; seed range $42,600-$120,480 reflects 50%-120% AMI by household size. 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.

West Cook Advantage Program (WCA) limita el precio de compra así: Per WCA-rehabbed home sale price (set per individual rehab project); first-mortgage product limits also apply. Los tipos de propiedad elegibles incluyen Fully-rehabbed single-family home, 1-4 unit, condominium, or townhouse participating in WCA rehab program in eligible communities. La construcción nueva no es elegible. Las viviendas prefabricadas no son elegibles.

West Cook Advantage Program (WCA) atiende a compradores de vivienda que compran en Oak Park, Illinois. El programa se dirige a áreas específicas: Eligible properties limited to fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park.

Las solicitudes de West Cook Advantage Program (WCA) 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 West Cook Homeownership Center after completion of homebuyer education and counseling; subject to WCA program funding availability and rehabbed-home inventory. 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.