HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program es un segundo préstamo diferido para compradores de vivienda en Richmond, Virginia, a cargo de Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA). Housing Opportunities Made Equal of Virginia (HOME of VA), a HUD-approved nonprofit founded in 1975, administers the Virginia DHCD HOMEownership Down Payment & Closing Cost Assistance Program (HUD HOME funded) as the regional provider for the Richmond metro area, serving the City of Richmond and the counties/cities of Chesterfield, Colonial Heights, Goochland, Hanover, Henrico, Hopewell, and Powhatan. The DPA is a deferred, 0% second loan for income-eligible first-time homebuyers at or below 80% AMI, providing funds for a required full house inspection, down payment, and closing costs. Assistance is up to 10% of the sales price (up to 15% in DHCD-designated high-cost areas) plus up to $2,500 toward closing costs, to a maximum of $40,000, secured by a deed of trust for a 5- or 10-year affordability period and forgiven if the home remains the buyer's principal residence. HOME of VA pairs the assistance with free one-on-one pre-purchase counseling, group homebuyer education, money-management and credit-recovery classes. Up to 10% of sales price (15% in high-cost areas) toward down payment. Up to $2,500 toward closing costs. Funds for required full house inspection. Deferred 0% loan, fully forgiven after affordability period. Free pre-purchase counseling and homebuyer education. Los fondos provienen de U.S. HUD HOME Investment Partnerships Program, administered by Virginia DHCD.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program ofrece entre $1,000 y $40,000 de ayuda. Niveles de ayuda: Up to 10% of sales price for standard localities; up to 15% for DHCD-designated high-cost/chronically economically depressed localities. Aporte del comprador de vivienda: Borrower must contribute 1% of the sales price from personal funds if income is 50%-80% AMI; if income is below 50% AMI, contribution is $500 (receipts required; may include appraisal, insurance, inspection, credit report, closing costs). El programa se puede combinar con VIDA, ARS, Virginia Housing DPA, Virginia Housing SPARC, FHLB programs, USDA programs, Freddie Mac/Fannie Mae assistance, lender/employer/housing-authority programs. Los montos son los máximos publicados por el programa, no una oferta: Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA) determina cualquier ayuda individual.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program 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 Sale or transfer of title (voluntary or involuntary), or failure to occupy as principal residence, during the affordability period triggers recapture/repayment of the entire outstanding HOME investment from available net proceeds. La ayuda se registra con un gravamen en posición Second (silent second / deferred loan behind first trust mortgage). 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.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance 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 homebuyer = never owned a home OR has not held primary ownership in a principal residence within the most recent 3-year period. Mobile homes titled as personal property and investment/inherited property not occupied as principal residence in the last 3 years still qualify the buyer as first-time. Sobre el crédito, el programa indica: DHCD HOME DPA requires a median FICO of 620 with at least 3 open, current trade lines (alternative credit considered with 3 trades). (Unconfirmed: HOME of VA does not publish a separate credit-score minimum on its homeownership page.). Se requiere un curso de educación para compradores de vivienda, a través de HOME of VA's own homebuyer education course (HUD-certified); also accepts Virginia Housing, NeighborWorks, or HUD-certified agency courses. Requisito de residencia: Property must be purchased in HOME of VA's service area: Chesterfield, Colonial Heights, Goochland, Hanover, Henrico, Hopewell, Powhatan, or City of Richmond. Loan TERM: deferred 0% second with 5-year affordability period for $1,000-$14,999 and 10-year for $15,000-$40,000; fully forgiven at end of term; not assumable. Buyer must have at least $40,000 combined annual household income, complete HOME of VA homebuyer education and counseling, have a 90-day minimum work history, pay off collections of $1,000+ and all judgments before closing, and hold cash assets below 10% of sales price. No cash back at closing.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance 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 must be at least $40,000 combined annual income AND at or below 80% of HUD AMI per HOME of VA's published chart: 1 person $63,600; 2 persons $72,650; 3 persons $81,750; 4 persons $90,800; 5 persons $98,100; 6 persons $105,350; 7 persons $112,600; 8 persons $119,900. El límite se aplica al ingreso total del hogar, no solo al del prestatario. El programa indica un tamaño máximo de hogar de 8. 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.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program limita el precio de compra así: Home value may not exceed 95% of the area median sales price (HUD 203(b) limits), established annually by HUD per locality. Los tipos de propiedad elegibles incluyen Single-family detached (one unit), Duplex/Triplex/Fourplex (assisted unit individually sold and deeded, owner-occupied), Townhome, Condominium, Modular home y Manufactured home (post-June 15, 1976; permanent utility hookups; owned land or long-term lease). La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program atiende a compradores de vivienda que compran en Richmond, Virginia.

Las solicitudes de HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program se tramitan a través de Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de First come, first served; funds reserved only after lender pre-approval and DPA eligibility. Apply via HOME of VA online homeownership application (allow up to 10 business days to process). 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.