Building Neighborhoods and Affordable Homes Program

Building Neighborhoods and Affordable Homes Program è un prestito condonabile per chi compra casa in Chicago, Illinois. The Building Neighborhoods and Affordable Homes (BNAH) Program is the City of Chicago Department of Housing's flagship gap-financing program for buyers of newly-built homes constructed on previously city-owned lots transferred via Land Sale Redevelopment Agreements or City Lots for Working Families Agreements. Provides up to $100,000 as a 10-year, 0% interest deferred forgivable second mortgage. Buyer must occupy as primary residence; loan is fully forgiven after 10 years. CDBG-funded for <=80% AMI; AHOF-funded for 81%-140% AMI. Expanded citywide in 2023. Up to $100,000 in purchase-price gap-financing assistance for the purchase of a primary, owner-occupied newly-constructed single-family residential building (1-4 dwelling units) built pursuant to a City of Chicago Land Sale Redevelopment Agreement or City Lots for Working Families Agreement. Structured as a 10-year, 0% interest deferred forgivable loan (forgivable note conditioned on continued owner-occupancy for the 10-year term). No monthly payments. Loan is forgiven at the end of the 10-year occupancy period. sale/refi/non-occupancy before maturity triggers a prorated payback to the City. Funded through CDBG (for buyers <=80% AMI) and the City's Affordable Housing Opportunity Fund (AHOF) (for buyers 81%-140% AMI). I fondi provengono da Local, Federal, CDBG e AHOF.

Building Neighborhoods and Affordable Homes Program offre un aiuto fino a $100,000. Contributo di chi compra casa: Per first-mortgage product. Il programma può essere combinato con altri aiuti, nel rispetto delle regole di ciascuno. Gli importi sono i massimi pubblicati dal programma, non un'offerta: è l'ente che gestisce il programma a stabilire l'eventuale importo per ciascuna persona.

Building Neighborhoods and Affordable Homes Program viene condonato dopo 10 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di Deferred (no monthly payments) e fully forgiven at end of 10-year owner-occupancy term. Prorated unforgiven balance due if home is sold, refinanced with cash-out, transferred, or ceases to be primary residence before 10 years. L'aiuto è iscritto in posizione 2nd Lien. Le condizioni di condono e di rimborso sono fissate dal programma e possono cambiare: verificale sulla pagina ufficiale del programma prima di fare domanda.

Building Neighborhoods and Affordable Homes Program è aperto a chi compra casa e ci vivrà come residenza principale. Sul credito, il programma afferma: Per first-mortgage lender requirements; no separate BNAH FICO floor. È richiesto un corso per chi compra casa, tramite DOH-approved HUD-certified housing counseling agency (homebuyer education recommended/required by developer or DOH). Requisito di residenza: Property must be within the City of Chicago, owner-occupied as primary residence for 10 years. Cittadinanza o status migratorio: U.S. citizen or qualifying non-citizen with eligible immigration status (per HUD CDBG rules where applicable). Property MUST be a newly-constructed single-family residential building (1-4 units) built pursuant to a City of Chicago Land Sale Redevelopment Agreement or City Lots for Working Families Agreement (i.e., on a city-owned lot transferred at below-market price). Buyer must occupy as primary residence for 10 years. Household income at or below 140% Chicago AMI. Income tier dictates funding source: <=80% AMI uses HUD CDBG; 81%-140% AMI uses City AHOF. Available citywide (program expanded city-wide in 2023).

Building Neighborhoods and Affordable Homes Program limita il reddito familiare al 140% del reddito mediano dell'area, che varia in base alla contea e alla dimensione del nucleo familiare. Household income at or below 140% of Chicago-Naperville-Elgin MSA AMI per HUD/Chicago annual chart. Seed range $109,900-$207,200 reflects 80%-140% AMI by household size. Il limite si applica al reddito totale del nucleo familiare, non solo a quello del richiedente del mutuo. I dati sul reddito mediano dell'area sono pubblicati da HUD e aggiornati ogni anno, quindi controlla la tabella attuale della contea prima di basarti su una cifra.

Building Neighborhoods and Affordable Homes Program limita il prezzo di acquisto così: Per BNAH-approved newly-constructed home (purchase price set per the underlying City Land Sale Redevelopment Agreement or City Lots for Working Families Agreement). I tipi di immobile idonei includono Newly-constructed single-family residential building (1-4 dwelling units) built pursuant to a City Land Sale Redevelopment Agreement or City Lots for Working Families Agreement. Le nuove costruzioni sono idonee. Le case prefabbricate non sono idonee.

Building Neighborhoods and Affordable Homes Program si rivolge a chi compra casa in Chicago, Illinois.

Le domande per Building Neighborhoods and Affordable Homes Program passano da l'ente che gestisce il programma, che pubblica sul proprio sito le condizioni attuali e i passaggi per fare domanda. I fondi vengono prenotati tramite Application via the BNAH home developer at time of purchase contract; subject to City DOH approval and annual CDBG/AHOF allocation. Hey Prescott non è un istituto di credito e non accetta domande; questa pagina descrive il programma perché chi compra casa possa parlarne con un istituto di credito o un consulente abitativo.