Down Payment & Closing Cost Loan Program

Down Payment & Closing Cost Loan Program es un segundo préstamo diferido para compradores de vivienda en Charlottesville, Virginia, a cargo de Piedmont Housing Alliance. Piedmont Housing Alliance administers funds loaned for down payment and closing costs to first-time homebuyers in the Charlottesville region. Assistance is a deferred-payment subordinate loan with no required monthly payments; repayment is triggered only on sale, refinance, or moving out. Most funds come from outside sources, each with its own eligibility and terms. Households generally must be below 80% AMI, first-time buyers, 620+ credit, contribute at least 1% of their own money, and hold no more than 10% of purchase price in liquid assets. Achieve homeownership without saving a full down payment. No mandatory monthly payments. Repayment only on sale, refinance, or move-out. Some (Virginia HOME) funds are forgivable over time. Los fondos provienen de Multiple: federal, state, local government, nonprofit/for-profit sources incl. Commonwealth of Virginia HOME funds; each source has its own guidelines.

Down Payment & Closing Cost Loan Program es diferido, así que no hay pagos hasta que la vivienda se venda o se refinancie, o se termine de pagar la primera hipoteca. El reembolso se activa por Due on sale, refinance of the first mortgage, or moving out; no required monthly payments. Voluntary payments allowed. La ayuda se registra con un gravamen en posición Subordinate (second/junior 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 & Closing Cost Loan Program 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 = not owned real estate in over 3 years. Sobre el crédito, el programa indica: 620+ required (lender or PHA tri-merge soft-pull for $25). Se requiere un curso de educación para compradores de vivienda, a través de Virginia Housing Homebuyer Class certificate of completion required. Assistance amount, min/max, forgiveness years, max DTI, household-size cap, and per-fund interest rates are not published (vary by fund source, awarded by need) and left blank rather than guessed. Liquid-asset cap = 10% of purchase price (not a fixed dollar). SPARC is a separate Virginia Housing 1.00% rate-reduction program PHA combines with local/state DPA funds. Confirmed active: page modified May 2026; 2026 AMI charts effective May 1, 2026.

Down Payment & Closing Cost Loan Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income generally below 80% AMI; three income-limit guidelines apply by fund source. 4-person 80% AMI for Charlottesville VA HUD FMR Area = $106,800 (eff. May 1, 2026). Different limits in Louisa County and other jurisdictions. 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 & Closing Cost Loan Program se puede usar para Single Family, Modular y Manufactured. La construcción nueva no es elegible. Las viviendas prefabricadas son elegibles.

Down Payment & Closing Cost Loan Program atiende a compradores de vivienda que compran en Charlottesville, Virginia.

Las solicitudes de Down Payment & Closing Cost Loan Program se tramitan a través de Piedmont Housing Alliance, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de First-come once a ratified contract and all documents are received; fund balances change daily and assistance is not guaranteed until reserved. 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.