Larimer Home Ownership Program Re-Purchase or Down Payment Assistance for Flood Survivors

Transcription

1 Larimer Home Ownership Program Re-Purchase or Down Payment Assistance for Flood Survivors Application & Information Packet Effective 2014

2 Larimer County Home Ownership Program Re-purchase or Down Payment Assistance for Flood Survivors Funded by Community Development Block Grant-Disaster Recovery (CDBG-DR) Program Highlights Funds are not reserved for you until you have a home under contract and loan approval. The maximum grant amount is $50,000. If the borrower(s) are at 30% AMI or below the funds are a grant and require no repayment. If the borrower(s) are between 30% and 80% of the AMI, the funds act like a second mortgage at 0% interest with no payments for five years. Once in the home for five years, the funds are considered forgiven. You do not have to be a first time homebuyer! Closing costs are $ and will be collected by the title company at closing. You can purchase a home anywhere in Larimer County including, Loveland, Fort Collins, Windsor, Wellington, LaPorte, Berthoud, etc. You must take a home buyer s training course if you did not previously own your home (during the flood). Classes are provided by or by CHFA You must remain living in the home during the five year affordability period. If you sell, move or transfer the property you must repay the loan in its entirety. You have six months after loan approval to find and purchase a home or you must reapply. Special lead based paint regulations will apply if you are purchasing a house pre A Home inspection is required and all properties must meet HUD Health and Safety Standards. Contact information Website - Phone Fax Loveland Housing Authority 375 W. 37 th St. Suite 200, Loveland, CO Deena Pettit, Home Ownership Programs Coordinator

3 Per HUD guidelines the first time home buyer class certification is good for 1 year. No funds will be reserved until you have a signed real estate contract. Once you have a home under contract we require a 30 day notification of closing. All closing documents and final figures must be in our office 3 days prior to your closing or your closing will be postpone no exceptions. Your lender is made aware of this when your application is approved. If you have any questions please call Deena Pettit at Maximum Income guidelines are as follows and subject to change. # of s in the family $41,200 $47,050 $52,950 $58,800 $63,550 $68,250

4 Larimer Home Ownership Program (LHOP) 375 W. 37 th St., Suite 200, Loveland, Colorado Phone (970) Fax (970) TDD (970) Submitting this application does not guarantee an award & funds are not reserved until you have a signed real estate contract. Incomplete applications will not be processed. FEMA REGISTRATION NUMBER FEMA ASSISTANCE $ Applicant ss# Birthdate Co-applicant ss# Birthdate Address Daytime Evening phone Phone Address ****************************************************************************************** Income Information (all income sources in your household must be listed) Applicant Gross Income Place of employment Occupation Address of Employer How long? Phone Co-applicant Gross Income Place of Employment Occupation Address of Employer How long? Phone Please list any other sources of income: Are you self-employed? Yes No If yes, how long please give details Do you receive Child Support Yes No If yes, how much monthly $ Is the Child Support Court Ordered Yes No Are there any s living in this residence earning money that will not be on the deed of trust for the home? Yes No

5 List all occupants of household, including applicant: (Please be complete, your eligibility is based on number of in your household) Name Age Employer Name Age Employer Name Age Employer Name Age Employer Name Age Employer Banking Information: Savings Acct Yes No Institution Name Balance Checking Acct Yes No Institution Name Balance Other Yes No Institution Name Balance Please List Any Other Assets and Their Value: Value Value Please List Any Debts: Do you have your own funds to put towards down-payment? No Yes If yes how much $ Have you ever had a bankruptcy? If yes how long ago Do you currently own a home? Yes No Have you owned a home within 3 years? Yes No (The Larimer Home Ownership Program requires that to apply for assistance you may not have owned a home in the last three years, with exception to forced relocation or divorce). Real Estate Agent s Name Phone Lender s Name Phone Lender s Fax

6 The Larimer Home Ownership Program Household Income and Demographic Information The Department of Housing and Urban Development-Community Block Grant Funds has been awarded to fund the Larimer Home Ownership Program. Federal regulations require the program to provide benefit to low and moderate income s. All questions on this document must be completed. The form must be acknowledged and signed. 1. Name of Person Completing Form: 2. Head of Household Name: 3. Home Address: 4. Is the Head of Household a. Female? Yes No b. Disabled? Yes No c. Age 62 yes or older? Yes No 5. Total annual household income: 6. Total Number of Persons in Household: 7. For each household member served by this program, please answer both a and b, placing the number of household members that meet that criteria on the category in the blanks or column. Note this information is required for reporting purposes. a. Ethnicity: Hispanic or Latino Not Hispanic or Latino b. Race (please check appropriate box below) Single Race Category Multi-Race Category White American Indian/Alaska Native & White Black/African American Asian & White Asian Black/African American & White American Indian/Alaska Native American Indian/Alaska Native & Black/African American Native Hawaiian/Other Pacific Islander Other Multi-race (please explain) This information will be used for no other purpose than to determine and verify income eligibility and will be held strictly confidential. I hereby certify that, to the best of my knowledge, the above information is complete and correct. I understand that the information I have provided is subject to verification by the Larimer Home Ownership Program nel and HUD. Signature Date *************************************************************For Office Use Only******************************************************** Median Income Level: 30% 50% 80% Reviewer Date

7 Applicant must sign in all required areas listed below. Incomplete applications will not be processed. Borrower may not receive any funds back at closing. Applicants must attend a CHFA certified First Time Home Buyers Training Class (if they did not own their home during the flood). Classes are available through Neighbor to Neighbor phone , or visit CHFA s website for other class options, please call ASAP to get registered into the class as it fills up quickly. Borrower must occupy the home purchased with LHOP assistance as their primary residence for the time period of 5 years from the date of purchase and must sign below as an affirmation of residency. If borrower fails to occupy this home as their primary residence the loan in its entirety will be due immediately. APPLICANT S CERTIFICATION AND DISCLOSURE OF ALL FUNDING RECEIVED FOR FLOOD RECOVERY RELATED TO THE SEPTEMBER 2013 FLOOD The Applicant certifies that all information in this application, and the information furnished in support of this application, is given for the purpose of obtaining assistance through the Larimer Home Ownership Program, and is true, complete, and correct to the best of his/her knowledge. That all sources of funding both federal and non-federal have been disclosed and any funding received for flood recovery federal or non-federal after this application submission is required to be disclosed. All recipients of CDBG-DR funds must disclose any additional FEMA or SBA funds received for up to one year after funding of DR project and may be required to repay said funds back to the CDBG-DR program if funds are determined to be a duplicated benefit. PENALTY FOR FALSE OR FRADULENT STATEMENT, U.S.C. Title 18, Sec provides: Whoever in any matter within the jurisdiction of any department or agency of the United States knowingly or willfully falsifies or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined not more than $10,000 or imprisoned not more than 5 years, or both. Signature: Signature: PRIVACY ACT NOTICE STATEMENT-This information is to be used by the agency collecting it in determining whether you qualify as a prospective mortgagor for insurance or guaranty or as a borrower for a rehabilitation loan under the agency s program. It will not be disclosed outside the agency without your consent except to financial institutions for verification of your deposits as required and permitted by law. You do not have to give us this information, but if you do not, your application for approval as a prospective mortgagor or for mortgage insurance or guaranty or as a borrower for a rehabilitation loan may be delayed or rejected. This information request is authorized by Title 38,U.S.C. Chapter 37 (if VA); by 12 U.S.C.,Section 1701 et seq., (if HUD/FHA); and by 42 U.S.C., Section 145b (if HUD/CPD). All s will be treated fairly and equally without regard to race, color, religion, sex, familial status, handicap or national origin in compliance with the Fair Housing Act and Section 504 of the Rehabilitation Act of The Housing Authority of the City of Loveland does not discriminate on the basis of handicapped status in the admission or access to its facilities, or treatment of or employment in its federally assisted programs.

8 Please submit the following documents with this application. Incomplete applications will not be processed. All attachments must be copies; do not submit originals. Driver s license or official ID for each adult in the household Social Security cards for all household members Birth Certificates for all minors in household Signed Declaration of Residency for all household members FEMA Award or Denial Letter SBA Award or Denial Letter Award or Denial letters from all other flood disaster agencies Signed Written Consent for DR-4145 Flooding for each adult in the household A copy of your most recent income tax forms and w2's (For self-employed s enclose 3 years tax information including profit and loss sheet) Copies of the last three months of bank statements (Include the entire statement) A copy of the most recent pay-stub for every family member working, or other income documentation (social security award letter, unemployment, child support, VA, alimony, retirement, etc.) Full-time students still living at home earning income do not need to be included. A pre-qualification letter from your lender If under contract a copy of the sales contract Home Buyer Education Certificate after class completion (You do not have to wait to submit your application to take the class, the class must be completed prior to closing) ****************************************************************************************** Applications are held on file for 6months, if you have not found a home in that time, you will have to re-apply.

9 Colorado Statewide Written Consent for DR-4145 Flooding I,, date of birth Full Name of Applicant Who resided at Damaged Dwelling Street Address City State Zip Hereby consent to the disclosure of the information collected under my FEMA Registration Number to the organizations listed below. If applicable I specifically consent to have the following information disclosed: My case file including: inspection report, amount of assistance received, and any other pertinent information needed for my case. Additionally, I consent to the disclosure of my information to any other organization that is a member in good standing of either the National Voluntary Organization Active in Disaster (NVOAD) or that is participating in the FEMA or State recognized Long Term Recovery Group (LTRG) or DR-4145-CO. The purpose of the written consent is to help acquire disaster relief resources for the named above and to coordinate assistance. Check here if you wish to have your information given to other government agencies providing disaster assistance including the Larimer Home Ownership Program managed by the Loveland Housing Authority. The above information, as deemed necessary, may be disclosed to the following organizations, individuals and/or other parties listed below: And any organizations/agencies in the Coordinated Assistance Network This consent is made pursuant to and consistent with 28 U.S.C I declare, under penalty of perjury, that the foregoing is true and correct. Signature of Applicant Date My phone number is cell Current Address Driver s License Number

10 Colorado Statewide Written Consent for DR-4145 Flooding I,, date of birth Full Name of Applicant Who resided at Damaged Dwelling Street Address City State Zip Hereby consent to the disclosure of the information collected under my FEMA Registration Number to the organizations listed below. If applicable I specifically consent to have the following information disclosed: My case file including: inspection report, amount of assistance received, and any other pertinent information needed for my case. Additionally, I consent to the disclosure of my information to any other organization that is a member in good standing of either the National Voluntary Organization Active in Disaster (NVOAD) or that is participating in the FEMA or State recognized Long Term Recovery Group (LTRG) or DR-4145-CO. The purpose of the written consent is to help acquire disaster relief resources for the named above and to coordinate assistance. Check here if you wish to have your information given to other government agencies providing disaster assistance including the Larimer Home Ownership Program managed by the Loveland Housing Authority. The above information, as deemed necessary, may be disclosed to the following organizations, individuals and/or other parties listed below: And any organizations/agencies in the Coordinated Assistance Network This consent is made pursuant to and consistent with 28 U.S.C I declare, under penalty of perjury, that the foregoing is true and correct. Signature of Applicant Date My phone number is cell Current Address Driver s License Number