West Cook Advantage Program (WCA)

West Cook Advantage Program (WCA) é um empréstimo perdoável para compradores de imóveis em Oak Park, Illinois. The West Cook Advantage Program (WCA) is administered by the West Cook Homeownership Center (WCHC), a program of the Oak Park Regional Housing Center (OPRHC). WCA pairs the purchase of fully-rehabbed homes in five western Cook County suburbs (Bellwood, Berwyn, Forest Park, Maywood, Oak Park) with up to $10,000 in forgivable down payment assistance. The DPA is recorded as a 5-year, 0% interest forgivable second mortgage with monthly forgiveness; buyers must be at or below 120% AMI, qualify for a 30-year fixed Conventional/FHA/VA mortgage, and complete WCHC homebuyer education. Up to $10,000 in down payment assistance (combination of forgivable loan and grant funds) for moderate-income buyers purchasing fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park. Structured as a 0% interest forgivable second mortgage recorded at closing and forgiven monthly over 5 years (1/60th per month). Buyer pays nothing on the assistance as long as they live in the home as primary residence. sale, refinance, or non-occupancy before the 5-year term ends triggers a prorated payback of the unforgiven balance. Os recursos vêm de Nonprofit, Local, Federal e CDBG.

West Cook Advantage Program (WCA) é perdoado após 5 anos, então o comprador de imóvel que permanecer esse tempo não o devolve. O reembolso é acionado por Forgiven 1/60th per month over 5 years e prorated unforgiven balance due if home is sold, refinanced with cash-out, transferred, or no longer borrower's primary residence before 5-year term ends. A ajuda é registrada como ônus em posição 2nd Lien. As condições de perdão e reembolso são definidas pelo programa e podem mudar — confirme-as na página oficial do programa antes de se inscrever.

West Cook Advantage Program (WCA) é aberto a compradores de imóveis que vão morar no imóvel como residência principal. Sobre crédito, o programa afirma: Per West Cook Homeownership Center and primary lender underwriting (typically 620+). É exigido um curso de educação para compradores de imóveis, por meio de West Cook Homeownership Center HUD-approved homebuyer education class and one-on-one housing counseling (required prior to WCA closing). Requisito de residência: Property must be in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park (Cook County, IL) and used as borrower's primary residence. Cidadania ou situação imigratória: U.S. citizen or qualifying non-citizen with eligible immigration status. Property must be a fully-rehabbed home participating in the West Cook Advantage rehab program, located in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park. Buyer must qualify for a 30-year fixed Conventional, FHA, or VA mortgage. Maximum household income at or below 120% Chicago AMI. Buyer must contribute a minimum of $1,000 of own funds. Buyer must complete West Cook Homeownership Center HUD-approved homebuyer education and one-on-one counseling. Property must be occupied as primary residence for full 5-year forgiveness term to realize full forgiveness benefit.

West Cook Advantage Program (WCA) limita a renda familiar a 120% da renda mediana da região, que varia conforme o condado e o tamanho da família. Household income at or below 120% of Chicago-Naperville-Elgin MSA AMI; seed range $42,600-$120,480 reflects 50%-120% AMI by household size. O limite vale para a renda total da família, não só a do mutuário. Os valores da renda mediana da região são publicados pelo HUD e atualizados todo ano, então confira a tabela atual do condado antes de se basear em um número.

West Cook Advantage Program (WCA) limita o preço de compra assim: Per WCA-rehabbed home sale price (set per individual rehab project); first-mortgage product limits also apply. Os tipos de imóvel elegíveis incluem Fully-rehabbed single-family home, 1-4 unit, condominium, or townhouse participating in WCA rehab program in eligible communities. Construções novas não são elegíveis. Casas pré-fabricadas não são elegíveis.

West Cook Advantage Program (WCA) atende compradores de imóveis que compram em Oak Park, Illinois. O programa é voltado para áreas específicas: Eligible properties limited to fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park.

As inscrições para West Cook Advantage Program (WCA) são feitas por meio de o órgão que administra o programa, que publica as condições atuais e as etapas da inscrição no próprio site. Os recursos são reservados por meio de Application directly with West Cook Homeownership Center after completion of homebuyer education and counseling; subject to WCA program funding availability and rehabbed-home inventory. A Hey Prescott não é uma credora e não aceita inscrições; esta página descreve o programa para que um comprador de imóvel possa levá-lo a um credor ou a um conselheiro habitacional.