Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program es un préstamo condonable para compradores de vivienda en Norfolk; Virginia Beach, Virginia, a cargo de Urban League of Hampton Roads, Inc. (ULHR). The Urban League of Hampton Roads (ULHR), a HUD-approved housing counseling agency, is a designated regional administrator of the Virginia Down Payment Assistance (VA DPA) Pilot Program for the Hampton Roads region, serving Chesapeake, Franklin, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, and Smithfield. The VA DPA Pilot, funded by the Commonwealth of Virginia (not federal HOME funds) and administered through DHCD, provides down payment and closing-cost assistance to first-time homebuyers earning up to 60% of Area Median Income. Assistance is a forgivable second mortgage of $20,000 to $50,000 (including up to $2,500 in closing costs), secured for a 15-year affordability period and forgiven 1/15 per year; it can be fully forgiven if the buyer keeps the home as their principal residence for 15 years. ULHR also provides one-on-one pre-purchase counseling, first-time homebuyer classes, and access to Virginia Housing's SPARC 1% rate-reduction program. Forgivable second mortgage of $20,000-$50,000. Up to $2,500 toward closing costs. 0% interest, no monthly payments. Forgiven 1/15 per year; fully forgiven after 15 years. HUD-certified pre-purchase counseling and homebuyer education. Los fondos provienen de Commonwealth of Virginia general funds (state-funded VA DPA Pilot), administered by Virginia DHCD.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program ofrece entre $20,000 y $50,000 de ayuda. Niveles de ayuda: Single tier; up to 60% AMI; assistance $20,000-$50,000. Aporte del comprador de vivienda: Borrower must contribute 1% of the sales price from personal funds if income is 50%-60% AMI; if income is below 50% AMI, contribution is $500 (receipts required). 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. NOT stackable with: DHCD HOME DPA (federal), CDBG, or ASNH. Los montos son los máximos publicados por el programa, no una oferta: Urban League of Hampton Roads, Inc. (ULHR) determina cualquier ayuda individual.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program se perdona después de 15 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por If the household moves out or sells before the end of the 15-year affordability period, a prorated portion of the assistance (the unforgiven balance, forgiven 1/15 per year) must be repaid from net proceeds after the first mortgage is satisfied. Failure to occupy as principal residence triggers repayment of the entire outstanding VA DPA investment. La ayuda se registra con un gravamen en posición Second (forgivable second mortgage / 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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: Median FICO of 620 with 3 open, current trade lines. Exception to 580+ permitted if using an FHA fixed-rate product (or provider in-house fixed-rate financing) and meeting FHA guidelines, or with documented alternative credit. Se requiere un curso de educación para compradores de vivienda, a través de HUD-certified homebuyer education through Virginia Housing, NeighborWorks, or a HUD-certified agency; ULHR offers its own first-time homebuyer classes and one-on-one counseling. Requisito de residencia: Property must be purchased in ULHR's VA DPA Pilot service area (Chesapeake, Franklin, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, Smithfield). Loan TERM: forgivable 0% second mortgage, $20,000-$50,000, 15-year affordability period, forgiven 1/15 per year, fully forgiven after 15 years of principal-residence occupancy; not assumable; max direct assistance cannot exceed 30% of sales price. Buyer must be pre-qualified with an FHA-approved lender, complete HUD-certified homebuyer education and counseling, have 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. For Sale by Owner ineligible (except landlord-to-tenant, case-by-case). No cash back at closing.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program limita el ingreso del hogar al 60% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Total household income up to 60% of HUD Area Median Income for the locality and household size, per HUD HOME income limits. Dollar limits vary by jurisdiction and household size across the Hampton Roads service area; see HUD/DHCD HOME income limit tables. (Unconfirmed: ULHR does not publish a per-household-size dollar chart on its site.). 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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. Property must be turnkey at settlement. Los tipos de propiedad elegibles incluyen Single-family detached (one unit), Duplex/Triplex (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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program atiende a compradores de vivienda que compran en Norfolk; Virginia Beach, Virginia.

Las solicitudes de Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program se tramitan a través de Urban League of Hampton Roads, Inc. (ULHR), 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 VA DPA eligibility. 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.