Down Payment Assistance Program (Lyn-CAG)

Down Payment Assistance Program (Lyn-CAG) es un segundo préstamo diferido para compradores de vivienda en Lynchburg, Virginia, a cargo de Lynchburg Community Action Group, Inc. (Lyn-CAG). The Lyn-CAG Down Payment Assistance Program offers first-time homebuyers gap financing to purchase a home in the City of Lynchburg. The assistance is a deferred loan secured by a lien against the property, intended to bridge the gap between a buyer's available funds and the cost to close. Applicants must be pre-approved by a lender and have household income at or below 80% of area median income. Assistance is funded through the City of Lynchburg's federal HOME Program and provided on a first-come, first-served basis. Flexible gap financing for first-time homebuyers. Deferred loan (no immediate repayment). Helps cover down payment and closing gap. Paired with HUD-certified homebuyer counseling. Los fondos provienen de City of Lynchburg HOME Investment Partnerships Program (HUD) funds.

Down Payment Assistance Program (Lyn-CAG) es diferido, así que no hay pagos hasta que la vivienda se venda o se refinancie, o se termine de pagar la primera hipoteca. La ayuda se registra con un gravamen en posición Second mortgage (secured by lien on the property). 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 Program (Lyn-CAG) 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: Eligible if the applicant has not held primary ownership of a residence in the past three years. Se requiere un curso de educación para compradores de vivienda, a través de Lyn-CAG First Time Homebuyers Club (four-month course; two classes offered annually). Requisito de residencia: Home purchased must be located within the City of Lynchburg. Applicant must submit lender pre-approval; must purchase within the City of Lynchburg; household income at/below 80% AMI; completion of Lyn-CAG First Time Homebuyers counseling; property secured by lien as collateral. NOTE (gap-finder): max assistance amount, interest rate, forgiveness terms, credit score, DTI, and purchase-price cap not published; verify before publishing.

Down Payment Assistance Program (Lyn-CAG) limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Family/household total income must not exceed 80% of the area median income (AMI) for the Lynchburg, VA area. 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 Program (Lyn-CAG) se puede usar para Single Family.

Down Payment Assistance Program (Lyn-CAG) atiende a compradores de vivienda que compran en Lynchburg, Virginia.

Las solicitudes de Down Payment Assistance Program (Lyn-CAG) se tramitan a través de Lynchburg Community Action Group, Inc. (Lyn-CAG), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. 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.