West Cook Advantage Program (WCA)

West Cook Advantage Program (WCA)是面向Oak Park，Illinois购房者的可免除贷款。 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. 资金来自Nonprofit、Local、Federal和CDBG。

West Cook Advantage Program (WCA)在5年后免除，因此住满这段时间的购房者无需偿还。 触发还款的情形：Forgiven 1/60th per month over 5 years和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。 该援助以2nd Lien顺位留置权登记。 免除和还款条款由项目设定，并可能变化——申请前请在项目官方网页上确认。

West Cook Advantage Program (WCA)面向将房屋作为主要住所自住的购房者。 关于信用，该项目说明：Per West Cook Homeownership Center and primary lender underwriting (typically 620+)。 须参加购房者教育课程，由West Cook Homeownership Center HUD-approved homebuyer education class and one-on-one housing counseling (required prior to WCA closing).提供。 居住要求：Property must be in Bellwood, Berwyn, Forest Park, Maywood, or Oak Park (Cook County, IL) and used as borrower's primary residence。 公民身份或移民身份：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)将家庭收入限制在地区收入中位数的120%，该数值因县和家庭人数而异。 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. 该限制适用于家庭总收入，而不仅是借款人的收入。 地区收入中位数由HUD公布并每年更新，因此在依据某个数字之前，请查看该县的最新表格。

West Cook Advantage Program (WCA)的房价上限如下：Per WCA-rehabbed home sale price (set per individual rehab project); first-mortgage product limits also apply。 符合条件的房屋类型包括Fully-rehabbed single-family home, 1-4 unit, condominium, or townhouse participating in WCA rehab program in eligible communities。 新建房屋不符合条件。 预制房屋不符合条件。

West Cook Advantage Program (WCA)服务于在Oak Park，Illinois购房的购房者。 该项目针对特定区域：Eligible properties limited to fully-rehabbed homes in five west-suburban Cook County communities: Bellwood, Berwyn, Forest Park, Maywood, and Oak Park.

West Cook Advantage Program (WCA)的申请通过管理该项目的机构办理，该机构在其网站上公布现行条款和申请步骤。 资金通过Application directly with West Cook Homeownership Center after completion of homebuyer education and counseling; subject to WCA program funding availability and rehabbed-home inventory预留。 Hey Prescott不是贷款机构，也不受理申请；本页介绍该项目，方便购房者向贷款机构或住房咨询师咨询。