West Cook Advantage Program (WCA)

Ang West Cook Advantage Program (WCA) ay isang loan na mapapatawad para sa mga bibili ng bahay sa 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. Ang pondo ay mula sa Nonprofit, Local, Federal, at CDBG.

Pinapatawad ang West Cook Advantage Program (WCA) pagkalipas ng 5 taon, kaya hindi na ito babayaran ng bibili ng bahay na mananatili nang ganoon katagal. Kailangang bayaran kapag may Forgiven 1/60th per month over 5 years at 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. Nakatala ang tulong bilang lien sa posisyong 2nd Lien. Ang mga tuntunin sa pagpapatawad at pagbabayad ay itinatakda ng programa at maaaring magbago — kumpirmahin ang mga ito sa opisyal na pahina ng programa bago mag-apply.

Bukas ang West Cook Advantage Program (WCA) sa mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. Tungkol sa credit, sinasabi ng programa: Per West Cook Homeownership Center and primary lender underwriting (typically 620+). Kailangan ang kurso sa homebuyer education, sa pamamagitan ng West Cook Homeownership Center HUD-approved homebuyer education class and one-on-one housing counseling (required prior to WCA closing). Requirement sa paninirahan: Property must be in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park (Cook County, IL) and used as borrower's primary residence. Citizenship o katayuan sa imigrasyon: 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.

Nililimitahan ng West Cook Advantage Program (WCA) ang kita ng sambahayan sa 120% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. 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. Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Ang mga numero ng median na kita sa lugar ay inilalathala ng HUD at ina-update taun-taon, kaya tingnan ang kasalukuyang talahanayan para sa county bago umasa sa isang numero.

Ganito nililimitahan ng West Cook Advantage Program (WCA) ang presyo ng pagbili: Per WCA-rehabbed home sale price (set per individual rehab project); first-mortgage product limits also apply. Kabilang sa mga kwalipikadong uri ng ari-arian ang Fully-rehabbed single-family home, 1-4 unit, condominium, or townhouse participating in WCA rehab program in eligible communities. Hindi kwalipikado ang bagong gawang bahay. Hindi kwalipikado ang mga manufactured home.

Pinaglilingkuran ng West Cook Advantage Program (WCA) ang mga bibili ng bahay sa Oak Park, Illinois. Tinutukoy ng programa ang mga partikular na lugar: Eligible properties limited to fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park.

Dumadaan sa ang ahensyang nangangasiwa ang mga aplikasyon para sa West Cook Advantage Program (WCA), na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng Application directly with West Cook Homeownership Center after completion of homebuyer education and counseling; subject to WCA program funding availability and rehabbed-home inventory. Ang Hey Prescott ay hindi nagpapautang at hindi tumatanggap ng aplikasyon; inilalarawan ng pahinang ito ang programa para madala ito ng bibili ng bahay sa isang lender o housing counselor.