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 è un prestito condonabile per chi compra casa in Norfolk; Virginia Beach, Virginia, gestito da 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. I fondi provengono da 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 un aiuto tra $20,000 e $50,000. Fasce di contributo: Single tier; up to 60% AMI; assistance $20,000-$50,000. Contributo di chi compra casa: 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). 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. NOT stackable with: DHCD HOME DPA (federal), CDBG, or ASNH. Gli importi sono i massimi pubblicati dal programma, non un'offerta: è Urban League of Hampton Roads, Inc. (ULHR) a stabilire l'eventuale importo per ciascuna persona.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program viene condonato dopo 15 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di 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'aiuto è iscritto in posizione Second (forgivable second mortgage / 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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: 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. È richiesto un corso per chi compra casa, tramite 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. Requisito di residenza: 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 limita il reddito familiare al 60% del reddito mediano dell'area, che varia in base alla contea e alla dimensione del nucleo familiare. 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.). 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot 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. Property must be turnkey at settlement. I tipi di immobile idonei includono Single-family detached (one unit), Duplex/Triplex (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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program si rivolge a chi compra casa in Norfolk; Virginia Beach, Virginia.

Le domande per Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program passano da Urban League of Hampton Roads, Inc. (ULHR), 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 VA DPA eligibility. 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.