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 est un prêt annulable pour les futurs propriétaires de Norfolk; Virginia Beach, Virginia, sous la gestion 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. Le financement provient 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 offre entre $20,000 et $50,000 d’aide. Paliers d’aide : Single tier; up to 60% AMI; assistance $20,000-$50,000. Apport du futur propriétaire : 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). 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. NOT stackable with: DHCD HOME DPA (federal), CDBG, or ASNH. Les montants sont les plafonds publiés par le programme, et non une offre — Urban League of Hampton Roads, Inc. (ULHR) décide de chaque aide individuelle.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program est annulé après 15 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par 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. L’aide est inscrite au rang suivant : Second (forgivable second mortgage / 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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 : 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. Un cours pour futurs propriétaires est obligatoire, auprès 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. Condition de résidence : 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 plafonne le revenu du ménage à 60 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. 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.). 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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. Property must be turnkey at settlement. Les types de logements admissibles comprennent Single-family detached (one unit), Duplex/Triplex (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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program s’adresse aux futurs propriétaires qui achètent à Norfolk; Virginia Beach, Virginia.

Les demandes pour Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program passent par Urban League of Hampton Roads, Inc. (ULHR), 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 VA DPA eligibility. 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.