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 é um empréstimo perdoável para compradores de imóveis em Norfolk; Virginia Beach, Virginia, administrado por 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. Os recursos vêm 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 oferece entre $20,000 e $50,000 de ajuda. Faixas de ajuda: Single tier; up to 60% AMI; assistance $20,000-$50,000. Contribuição do comprador de imóvel: 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). O programa pode ser combinado com 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. Os valores são os máximos publicados pelo programa, não uma oferta — Urban League of Hampton Roads, Inc. (ULHR) define qualquer ajuda individual.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program é perdoado após 15 anos, então o comprador de imóvel que permanecer esse tempo não o devolve. O reembolso é acionado por 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. A ajuda é registrada como ônus em posição Second (forgivable second mortgage / deferred loan behind first trust mortgage). As condições de perdão e reembolso são definidas pelo programa e podem mudar — confirme-as na página oficial do programa antes de se inscrever.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program é aberto a compradores do primeiro imóvel e compradores de imóveis que vão morar no imóvel como residência principal. “Primeiro imóvel” tem exceções aqui: 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. Sobre crédito, o programa afirma: 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. É exigido um curso de educação para compradores de imóveis, por meio 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. Requisito de residência: 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 a renda familiar a 60% da renda mediana da região, que varia conforme o condado e o tamanho da família. 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.). 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.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program limita o preço de compra assim: 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. Os tipos de imóvel elegíveis incluem 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). Construções novas são elegíveis. Casas pré-fabricadas são elegíveis.

Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program atende compradores de imóveis que compram em Norfolk; Virginia Beach, Virginia.

As inscrições para Urban League of Hampton Roads — Virginia Down Payment Assistance (VA DPA) Pilot Program são feitas por meio de Urban League of Hampton Roads, Inc. (ULHR), que publica as condições atuais e as etapas da inscrição no próprio site. Os recursos são reservados por meio de First come, first served; funds reserved only after lender pre-approval and VA DPA eligibility. 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.