HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program est un second prêt différé pour les futurs propriétaires de Richmond, Virginia, sous la gestion 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. Le financement provient de U.S. HUD HOME Investment Partnerships Program, administered by Virginia DHCD.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program offre entre $1,000 et $40,000 d’aide. Paliers d’aide : Up to 10% of sales price for standard localities; up to 15% for DHCD-designated high-cost/chronically economically depressed localities. Apport du futur propriétaire : 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). Le programme peut être combiné avec VIDA, ARS, Virginia Housing DPA, Virginia Housing SPARC, FHLB programs, USDA programs, Freddie Mac/Fannie Mae assistance, lender/employer/housing-authority programs. Les montants sont les plafonds publiés par le programme, et non une offre — Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA) décide de chaque aide individuelle.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program est annulé après 5 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par 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. L’aide est inscrite au rang suivant : Second (silent second / deferred loan behind first trust mortgage). Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : 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. Au sujet du crédit, le programme précise : 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.). Un cours pour futurs propriétaires est obligatoire, auprès de HOME of VA's own homebuyer education course (HUD-certified); also accepts Virginia Housing, NeighborWorks, or HUD-certified agency courses. Condition de résidence : 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 plafonne le revenu du ménage à 80 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. 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. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Le programme indique une taille de ménage maximale de 8. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program plafonne le prix d’achat ainsi : Home value may not exceed 95% of the area median sales price (HUD 203(b) limits), established annually by HUD per locality. Les types de logements admissibles comprennent Single-family detached (one unit), Duplex/Triplex/Fourplex (assisted unit individually sold and deeded, owner-occupied), Townhome, Condominium, Modular home et Manufactured home (post-June 15, 1976; permanent utility hookups; owned land or long-term lease). Les constructions neuves sont admissibles. Les maisons préfabriquées sont admissibles.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program s’adresse aux futurs propriétaires qui achètent à Richmond, Virginia.

Les demandes pour HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program passent par Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA), qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire 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 n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.