SCDHC HOMEownership Down Payment & Closing Cost Assistance Program

SCDHC HOMEownership Down Payment & Closing Cost Assistance Program est un second prêt différé pour les futurs propriétaires de Richmond; Petersburg; Emporia, Virginia, sous la gestion de Southside Community Development & Housing Corporation (SCDHC). Southside Community Development & Housing Corporation (SCDHC), a HUD-approved housing counseling agency and the largest single-family nonprofit housing developer in the Richmond MSA, administers the Virginia DHCD HOMEownership Down Payment & Closing Cost Assistance Program (federally funded by HUD HOME) as a regional provider for the Crater/Southside region (Brunswick, Charles City, Dinwiddie, Emporia, Greensville, Petersburg, Prince George, Southampton, Sussex) and the Richmond metro (Henrico, Chesterfield, City of Richmond). The DPA is a deferred, no-payment, no-interest second loan that helps income-eligible first-time homebuyers at or below 80% AMI cover down payment and closing costs. Assistance is provided up to 10% of the sales price (up to 15% in DHCD-designated high-cost/economically depressed localities), plus up to $2,500 toward closing costs, to a maximum of $40,000. The loan is secured by a deed of trust for a 5-year (assistance of $1,000-$14,999) or 10-year ($15,000-$40,000) affordability period and is fully forgiven if the buyer keeps the home as their principal residence through the period. SCDHC also offers homebuyer education, one-on-one counseling, and a VIDA matched-savings program. Up to 10% of sales price (15% in high-cost areas) toward down payment. Up to $2,500 toward closing costs. Deferred 0% loan, no monthly payments. Fully forgiven after affordability period. HUD-certified homebuyer education and one-on-one counseling. Le financement provient de U.S. HUD HOME Investment Partnerships Program, administered by Virginia DHCD.

SCDHC 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. The 1% may include appraisal, insurance, third-party inspection fees, credit report, and closing costs (receipts required). SCDHC pre-screen asks for at least $2,000 in savings. Le programme peut être combiné avec VIDA, ARS (Acquire/Renovate/Sell), 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 — Southside Community Development & Housing Corporation (SCDHC) décide de chaque aide individuelle.

SCDHC 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 (rented/vacant), 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 recorded 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.

SCDHC 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 : SCDHC's own screening states a credit score above 640. The underlying DHCD HOME DPA program requires a median FICO of 620 with at least 3 open, current trade lines (alternative credit considered with 3 trades). Un cours pour futurs propriétaires est obligatoire, auprès de HUD-certified homebuyer education course through Virginia Housing, NeighborWorks, or a HUD-certified agency; SCDHC provides its own HUD-approved homebuyer education workshops and counseling. Condition de résidence : Property must be in SCDHC's DHCD-assigned service area (Crater/Southside counties and Richmond metro localities listed). Loan TERM: deferred second with 5-year affordability period for assistance of $1,000-$14,999 and 10-year affordability period for $15,000-$40,000; no payments and 0% interest; fully forgiven at end of affordability period; not assumable. Borrower must complete HUD-certified homebuyer education and one-on-one counseling, have a 90-day minimum work history, pay off collections totaling $1,000+ and all judgments before closing, and have cash assets below 10% of the sales price. No cash back to buyer at closing.

SCDHC 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. Total household income at or below 80% of HUD Area Median Income (AMI) for the locality and household size, per HUD's annually updated HOME income limits. SCDHC's own pre-screen also asks that annual income be at least $40,000. Exact dollar limits vary by jurisdiction and household size; see DHCD/HUD HOME income limit tables (Unconfirmed: SCDHC does not publish a per-household-size dollar chart on its site). Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. 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.

SCDHC 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, no other units owned as rentals), Townhome, Condominium, Modular home et Manufactured home (post-June 15, 1976; permanent utility hookups; on owned land or long-term lease). Les constructions neuves sont admissibles. Les maisons préfabriquées sont admissibles.

SCDHC HOMEownership Down Payment & Closing Cost Assistance Program s’adresse aux futurs propriétaires qui achètent à Richmond; Petersburg; Emporia, Virginia.

Les demandes pour SCDHC HOMEownership Down Payment & Closing Cost Assistance Program passent par Southside Community Development & Housing Corporation (SCDHC), 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 the buyer is pre-approved by a lender and meets DPA eligibility. Workshop registration and online application via SCDHC. 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.