HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program è un secondo prestito differito per chi compra casa in Richmond, Virginia, gestito da 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. I fondi provengono da U.S. HUD HOME Investment Partnerships Program, administered by Virginia DHCD.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program offre un aiuto tra $1,000 e $40,000. Fasce di contributo: Up to 10% of sales price for standard localities; up to 15% for DHCD-designated high-cost/chronically economically depressed localities. Contributo di chi compra casa: 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). Il programma può essere combinato con VIDA, ARS, Virginia Housing DPA, Virginia Housing SPARC, FHLB programs, USDA programs, Freddie Mac/Fannie Mae assistance, lender/employer/housing-authority programs. Gli importi sono i massimi pubblicati dal programma, non un'offerta: è Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA) a stabilire l'eventuale importo per ciascuna persona.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program viene condonato dopo 5 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di 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'aiuto è iscritto in posizione Second (silent second / deferred loan behind first trust mortgage). Le condizioni di condono e di rimborso sono fissate dal programma e possono cambiare: verificale sulla pagina ufficiale del programma prima di fare domanda.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program è aperto a chi compra la prima casa e chi compra casa e ci vivrà come residenza principale. Qui "prima casa" prevede delle eccezioni: 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. Sul credito, il programma afferma: 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.). È richiesto un corso per chi compra casa, tramite HOME of VA's own homebuyer education course (HUD-certified); also accepts Virginia Housing, NeighborWorks, or HUD-certified agency courses. Requisito di residenza: 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 limita il reddito familiare al 80% del reddito mediano dell'area, che varia in base alla contea e alla dimensione del nucleo familiare. 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. Il limite si applica al reddito totale del nucleo familiare, non solo a quello del richiedente del mutuo. Il programma indica una dimensione massima del nucleo familiare di 8. 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.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program limita il prezzo di acquisto così: Home value may not exceed 95% of the area median sales price (HUD 203(b) limits), established annually by HUD per locality. I tipi di immobile idonei includono Single-family detached (one unit), Duplex/Triplex/Fourplex (assisted unit individually sold and deeded, owner-occupied), Townhome, Condominium, Modular home e Manufactured home (post-June 15, 1976; permanent utility hookups; owned land or long-term lease). Le nuove costruzioni sono idonee. Le case prefabbricate sono idonee.

HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program si rivolge a chi compra casa in Richmond, Virginia.

Le domande per HOME of Virginia HOMEownership Down Payment & Closing Cost Assistance Program passano da Housing Opportunities Made Equal of Virginia, Inc. (HOME of VA), che pubblica sul proprio sito le condizioni attuali e i passaggi per fare domanda. I fondi vengono prenotati tramite 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 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.