Homeownership Subdivision Development in a Post-Recession Environment
|
|
- Hollie Leonard
- 8 years ago
- Views:
Transcription
1 Homeownership Subdivision Development in a Post-Recession Environment
2 Organizational Structure & History PathStone is a not-for-profit community development and human service organization providing services to low-income families and economically depressed communities throughout New York, Pennsylvania, New Jersey, Ohio, Indiana, Virginia, Vermont, and Puerto Rico. PathStone Alliance for Better Housing (PABH) is a fully controlled affiliate of PathStone focused on housing. Prior to the affiliation in 2012, Alliance for Better Housing was a small rural non-profit focused on housing counseling in Chester County. The organization had also developed two affordable for-sale townhome communities. PathStone s Pennsylvania division had developed several small rural rental developments. Prior to this project, most recent completed in 2005 PathStone s Pennsylvania Housing Division includes: A Director/Real Estate Developer Two housing counselors (one for central PA, one for southeastern PA) A program assistant
3 Local Context/ Market Conditions Oxford Boro Chester County is the second most expensive County in the state Major mushroom production center Median sales prices for homes Q $305,000 Oxford Borough is a small but growing rural center Majority of clients served by PathStone are Latino households employed in the mushroom industry. Many have limited English proficiency
4 Homeownership Counseling PathStone s Chester County office Client Volume Per Year: Provides pre- and post-purchase counseling to households Packages and closes USDA 502 loans Benefits of counseling/packaging to a development program: Pipeline of potential buyers Ability to pre-qualify households in-house Knowledge of housing market
5 Market Niche Average price of homes purchased by PathStone s clients is $210,000-$220,000. Housing stock at that price point is limited, and even with subsidized interest rates available through the USDA 502 program, households earning under $45,000 can rarely qualify Opportunity to develop a lower priced product through project level subsidy, which could be made even more affordable with subsidy at the household level
6 The Project
7 The Project 41-Lot Fully Approved Subdivision 27 lots in Phase I, 14 Units in Phase II Both Phases part of a single Homeowners Association Phase I infrastructure and homes built out Owner was seeking to sell Phase II 14 Lots Vacant land with no infrastructure Existing Built-Out Homes 27 3-bedroom 2.5 bath units Unfinished basements Two parking spots in shared parking lot Sales price ranged from $190,000-$200,000 over several years of sales Five units of Phase I unsold when PathStone purchased Phase II
8 Putting the Pieces Together Financing Concept PathStone s development of Phase II included project level and buyer-level subsidy HOME funds (through Chester County) structured as soft second mortgages, County allowed them to be lent in during construction. Reduced construction interest and improved loan to value Homes were pre-sold and project was phased to be built by building First mortgage obligations for Building 1 were secured before the construction financing closed
9 Unit Design First Floor & Options
10
11 Phases & Parking Reconfiguration
12 Original Parking Configuration
13 Pre-Qualifying Buyers First Mortgage & HOME Subsidy Homebuyer first mortgage payments, including principal, interest, real estate taxes and insurance range from about $750-$1,100
14 Oxford Townhomes Financing Structure
15 Oxford Townhomes Financing Structure
16
17 Oxford Townhomes Financing Structure
18 Financial Surprises & Challenges HOME CHDO regulatory changes Federal Home Loan Bank AHP program since the recession changed disbursement practices so funds released only after home are sold; impacted Loan-To-Value calculations during underwriting Conventional bank lender offered favorable terms but backed out late in the process LISC stepped in as lender and saved the day Local government often requires financial security for public improvements we ultimately had to borrow cash and fund an escrow account with a local bank
19 Other Challenges to Rural Subdivision Development Availability and cost of water and sewer connections Time involved in securing local approvals due to low staffing levels at the municipal level; municipalities may have limited experience working with larger scale development projects In this project, minor site changes required local approval process nearly as extensive as a new project
20 Surprises & Challenges Issues inherited due to purchasing a portion of a subdivision Issues with turnover of Homeowner s Association (HOA) from original developer; incomplete records and under-funded operating and reserve accounts
21
22 What Worked Strong housing market with high demand and high home values Pre-Sales Phasing Flexible lending partner In-house experience with development and homeownership counseling Parent non-profit (PathStone) with internal resources and access to capital through partners like LISC County financial support/ HOME seconds Product type with options for varied housing needs Experienced Third Party HOA Management Firm
23 Looking forward New homes for 14 families who otherwise would have been locked out of the local housing market Now have a model home design that can be utilized in future projects (architect has granted re-use permissions) Project gave PathStone s Pennsylvania housing division visibility after a long period of inactivity Project documents such as contracts and sales agreements can be adapted for future developments Goals for a second project: More units, use phasing strategy Find land which can accommodate for-sale and rental units to share costs and risk Bring in more project level subsidy, since appraised value limits ways in which buyerlevel subsidy can assist the developer
24 PathStone Pennsylvania Housing Staff Contact Info Wendy Carter - Development wcarter@pathstone.org (cell) Guillermo Rivera Homeownership Counseling/Loan Packaging grivera@pathstone.org
SINGLE FAMILY DEVELOPMENT
SINGLE FAMILY DEVELOPMENT Agenda April 1 Introductions Background of class participants Ground rules Course outline and objectives The single family crisis Single family versus multifamily development
More informationLENDING GUIDELINES AND TERM SHEETS FOR:
LENDING GUIDELINES AND TERM SHEETS FOR: THE OHIO AFFORDABLE HOUSING LOAN FUND THE OHIO PRESERVATION LOAN FUND THE OCFC PERMANENT LOAN PRODUCT For information, please contact:, 614.224.8446 (p) 614.224.8452
More informationAffordable Housing Partnership Housing Counseling Program
Affordable Housing Partnership Housing Counseling Program ORGANIZATION AND STAFF INFORMATION Name of Organization: Affordable Housing Partnership of the Capital Region Inc. 255 Orange Street Albany, New
More informationBuying Your First Home
About Northwest Federal Credit Union Not For Profit Federally Insured In existence for over 68 years Local Lender based in Herndon, VA Additional branches located in Leesburg, Chantilly, Vienna, Manassas,
More informationLOOK WHO ELSE IS BUYING THEIR FIRST HOME FIRST-TIME HOMEBUYER SURVEY
LOOK WHO ELSE IS BUYING THEIR FIRST HOME FIRST-TIME HOMEBUYER SURVEY OVERVIEW This survey was administered to agents who have worked with first-time buyers in 2009. 2,453 Keller Williams agents responded
More informationUSDA Eligible Areas and Incomes; Website
Course Title: Rural Housing Service Loan Programs There are two discrete programs. Guaranteed Rural Housing (GRH) is a privately funded, USDA Guaranteed, mortgage loan with no downpayment requirement,
More informationHomeownership Division
Michigan Credit Union League & Affiliates Annual Convention and Exposition Helping Credit Unions Serve, Grow and Remain Strong #mculace MSHDA s Homeownership Programs Delivering the Dream to Michigan Families
More informationHOME Investment Partnerships Program FAQs
HOME Investment Partnerships Program FAQs Last Updated: April 25, 2016 Description: This document contains the HOME Investment Partnerships Program FAQs posted on the HUD Exchange website (https://www.hudexchange.info/home/).
More informationACEEE Greening the Mortgage Process. Michelle Winters March 2012
ACEEE Greening the Mortgage Process Michelle Winters March 2012 NeighborWorks America Working Together for Strong Communities Support Homeownership Homeownership and foreclosure counseling Provide Affordable
More informationSTEPS AFFORDABLE HOME LOAN TO GETTING AN. www.idahohousing.com
5 STEPS TO GETTING AN AFFORDABLE HOME LOAN www.idahohousing.com 1 Check your eligibility for a home loan at www.idahohousing.com. Visit www.idahohousing.com or call 866.432.4066 to check your eligibility
More informationPurchase an Affordable Home in Orange County
Purchase an Affordable Home in Orange County Habitat for Humanity of Orange County offers affordable homeownership opportunities. Families who work in Orange County can live in Orange County under construction:
More informationThe USDA 502 Direct Loan: Making It Work for Your Affiliate
The USDA 502 Direct Loan: Making It Work for Your Affiliate The USDA 502 Direct Loan: Making It Work for Your Affiliate Panelist Lori Anderson, executive director, Habitat for Humanity of Douglas County
More informationCITY OF SOLEDAD FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM FIRST MORTGAGE LENDER INSTRUCTIONS 248 MAIN STREET, SOLEDAD CA 93960
FIRST MORTGAGE LENDER INSTRUCTIONS Maximum Home Sales Price Home sale prices cannot exceed 95% of the area median home value for Soledad (see Table 1: Maximum Purchase Price per Unit). Maximum Loan-to-Value
More informationUnderstanding Down Payment Assistance Programs. Sponsored by
Understanding Down Payment Assistance Programs Sponsored by A Word of Thanks About ANDP Celebrating 25 th Year in 2016 Affordable Housing Advocacy Piece by Piece Foreclosure Response Initiative ANDP Loan
More informationPALM BEACH COUNTY Workforce Housing Homebuyer/Renter Information (2015)
PALM BEACH COUNTY Workforce Housing Homebuyer/Renter Information (2015) What is the Workforce Housing Program? The Workforce Housing Program provides for the development of workforce housing units in all
More informationAFFORDABLE HOUSING POLICY Recommended July 23, 2013
AFFORDABLE HOUSING POLICY Recommended July 23, 2013 It shall be the policy of Albemarle County to promote a variety of housing choices for residents. Choice shall be defined by type, tenure, and price
More informationCentre County Affordable Housing Needs Assessment: A Blueprint for Action. Appendix D Current Housing Programs Centre County
Homeownership Programs Appendix D Current Housing Programs Centre County 1. Program name: Centre County First Time Homebuyer Program Target Population: 1-person household: $40,875 2-person household: $46,750
More information5. CONSERVATION OF AFFORDABLE UNITS
5. CONSERVATION OF AFFORDABLE UNITS The analysis of the Conservation of Affordable Units section relied primarily on data from the San Benito County Housing and Economic Development Department, San Benito
More informationMICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY COMMUNITY DEVELOPMENT DIVISION
MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY COMMUNITY DEVELOPMENT DIVISION Subject: SUBSIDY LIMITS AND LIEN REQUIREMENTS Effective Date: September 1, 2015 (revised 10/15/15) This policy defines the subsidy
More informationVHDA. Homeownership Program Guidelines for Realtors & Lenders. Updated 04/04
VHDA Homeownership Program Guidelines for Realtors & Lenders Updated 04/04 2 Benefits of a VHDA Loan: Creative financing programs Reduced interest rates Lower monthly payments More house for less money
More informationHOUSING CHOICE VOUCHER HOMEOWNERSHIP OPTION PROGRAM
HOUSING CHOICE VOUCHER HOMEOWNERSHIP OPTION PROGRAM FREQUENTLY ASKED QUESTIONS What is the Section 8 Homeownership Option Program? This program is designed to assist families in reaching the dream of homeownership,
More informationHomeStreet Bank s. Preferred Builder Program
HomeStreet Bank s Preferred Builder Program Company Overview Key Facts and Statistics Oldest Fannie Mae Relationship in the United States HomeStreet, Inc. (NASDAQ:HMST) is a diversified financial services
More informationMSHDA's Down Payment Assistance and Mortgage Credit Certificate. May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by:
MSHDA's Down Payment Assistance and Mortgage Credit Certificate May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by: CREDIT UNIONS A DRIVING FORCE OF COMMUNITIES MSHDA Overview
More informationAN ASSESSMENT OF AFFORDABLE HOMEOWNERSHIP PROGRAMS IN VIRGINIA
AN ASSESSMENT OF AFFORDABLE HOMEOWNERSHIP PROGRAMS IN VIRGINIA The Cornerstone Partnership is a peer network for homeownership programs that preserve longterm affordability and community stability, helping
More informationInsert Product Photograph Here
Pitt County Community Development Down Payment Assistance Program Insert Product Photograph Here Overview The HOME Down payment Assistance Program is designed to assist potential low income, first-time
More informationDelaware State Housing Authority. DSHA Homeownership Loan Programs
Delaware State Housing Authority DSHA Homeownership Loan Programs DSHA is committed to following all aspects of the Fair Housing Act in our efforts to promote responsible homeownership and obtaining competitive
More informationHOMEBUYER S MORTGAGE GUIDE
WWW.WINTRUSTMORTGAGE.COM WINTRUST.COM/MYHOME HOMEBUYER S MORTGAGE GUIDE HELPFUL INFORMATION ABOUT THE MORTGAGE PROCESS TO GUIDE YOU AS YOU PURCHASE YOUR NEW HOME. www.wintrust.com/myhome WHY WINTRUST?
More informationAPPLICATION PACKET. Union County Affordable Housing Fund. First Time Homebuyers Program
APPLICATION PACKET Union County Affordable Housing Fund First Time Homebuyers Program This packet includes Preliminary Application Rules and Procedures Income Limits Union County Government Center 155
More information2010 NSP FIRST Mortgage Loan Program Summary Approved by THDA 05/07/2010
Description: Eligible Applicants: Maximum Household Interest Rate: Loan Term/ Type: Pre-Payment Penalty Subject to Recapture: Required Reserves: Down Payment Minimum Investment: Maximum Loan Amount: Homebuyer
More informationAppendix 11: AFFORDABLE HOUSING TERMS & CRITERIA
Appendix 11: AFFORDABLE HOUSING TERMS & CRITERIA (Provided by the Southampton Housing Authority March 18, 2013) What is Affordable Housing? There are a number of definitions of affordable housing as federal
More informationFirst-Time Homebuyer Programs in Portland
First-Time Homebuyer Programs in Portland PDC s Neighborhood Housing Program 10/2008 PDC s Vision and Mission Our Mission is to bring together resources to achieve Portland s vision of a diverse, sustainable
More informationFirst Time Home Buyer Glossary
First Time Home Buyer Glossary For first time home buyers, knowing and understanding the following terms are very important when purchasing your first home. By understanding these terms, you will make
More informationAppreciation is one way that the the difference between the market value of property and the amount owed on it increases.
Chapter 22 Buying a Home 22.1 Why Buy a Home? Vocab Market value appraised value assessed value Equity conventional loan FHA loan Trust deed escrow account discount points Loan origination fee closing
More informationPreparing for homeownership
Preparing for homeownership What we ll cover 1. Getting ready for homeownership 2. Mortgage basics 3. What you need to buy a home 4. Finding the right home 5. Resources 2 Getting ready for homeownership
More informationHome Buyer Education. Are you ready? Getting Ready to Buy a Home. Member FDIC. Homebuyer Training Guide
Home Buyer Education Getting Ready to Buy a Home. Are you ready? Member FDIC 1 Topics We ll Cover Today Getting ready to buy Budgeting Buying your home Getting a mortgage loan The mortgage loan process
More informationREQUEST FOR QUALIFICATIONS ST. LOUIS COUNTY OFFICE OF COMMUNITY DEVELOPMENT HOMEBUYER ASSISTANCE & COMMUNITY BUILDER INCENTIVE 2016
REQUEST FOR QUALIFICATIONS ST. LOUIS COUNTY OFFICE OF COMMUNITY DEVELOPMENT HOMEBUYER ASSISTANCE & COMMUNITY BUILDER INCENTIVE 2016 PURPOSE To solicit proposals from organizations interested in providing
More informationFUNDING SOURCES WITH POTENTIAL APPLICABILITY TO AFFORDABLE HOUSING AT HUNTING TOWERS
FUNDING SOURCES WITH POTENTIAL APPLICABILITY TO AFFORDABLE HOUSING AT HUNTING TOWERS REHABILITATION There are a variety of funding sources that can be used for the rehabilitation (with or without acquisition)
More informationDefinitions. In some cases a survey rather than an ILC is required.
Definitions 1. What is the closing? The closing is a formal meeting at which both the buyer and seller meet to sign all the final documentation required for the buyer's mortgage loan. Once the closing
More informationTEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
In this packet... Introduction... 2 TDHCA s Homebuyer Assistance Options... 2 My First Texas Home (MFTH)... 2 Texas Mortgage Credit Certificate (MCC)... 2 Features of TDHCA s Homebuyer Assistance Programs...
More informationVETERANS HOMEOWNERSHIP AND PRESERVATION PROGRAM
SCHEDULE A PROJECT PLAN VETERANS HOMEOWNERSHIP AND PRESERVATION PROGRAM TERMS AND CONDITIONS The Palm Beach County program Terms and Conditions by and between Palm Beach County (also referred to as PBC
More informationBrooklyn Park Economic Development Authority
Brooklyn Park Economic Development Authority Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB Program Description & Guidelines July 2011 TABLE
More informationQ. What are the terms of the NeighborhoodLIFT funding?
Frequently Asked Questions: Q. What are the terms of the NeighborhoodLIFT funding? A. NeighborhoodLIFT funds are provided as a 5 year forgivable loan program for owner occupied properties. As long as the
More informationVacant Properties Rehabilitation Program
City of Columbus Department of Development Housing Division Vacant Properties Rehabilitation Program Redevelopment for Homeownership/ Lease-Purchase Guidelines Capital Bond Funds Home Funds NSP 1, 2, 3
More informationMueller Affordable Homes Program Details and FAQs
Mueller Affordable Homes Program Details and FAQs This information is provided as a general resource and is not intended to fully describe or disclose all requirements or restrictions of the Mueller Affordable
More informationHabitat for Humanity of Southern Brazoria County (HfHSBC) This policy defines the terms and conditions that are required in a Habitat mortgage.
Habitat for Humanity of Southern Brazoria County (HfHSBC) HfHSBC Policy No. 24 - Mortgage Policy General Principles This policy defines the terms and conditions that are required in a Habitat mortgage.
More informationLet me provide you a bit more detail of what we accomplished in 2009.
New York State Housing Finance Agency State of New York Mortgage Agency New York State Affordable Housing Corporation 641 Lexington Avenue, New York, NY 10022 (212) 688-4000 www.nyhomes.org Testimony by
More informationcäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö
CANADA MORTGAGE AND HOUSING CORPORATION cäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö Homeowner Mortgage Loan Insurance As Canada s national housing agency, Canada Mortgage and Housing Corporation (CMHC) is committed
More informationDr. Debra Sherrill Central Piedmont Community College
Dr. Debra Sherrill Central Piedmont Community College 1 2 Describe the benefits and pitfalls of renting versus owning a home. List the steps required to obtain a mortgage loan. Identify mortgage options
More informationPIMA COUNTY COMMUNITY LAND TRUST HOME BUYER SELECTION POLICIES & PROCEDURES
PIMA COUNTY COMMUNITY LAND TRUST HOME BUYER SELECTION POLICIES & PROCEDURES I. OVERVIEW This policy paper is intended to guide the development and implementation of both general and projectspecific homebuyer
More informationLake County Homebuyer Programs Lender Guidelines as of 1/22/2014
Lake County Homebuyer Programs Lender Guidelines as of 1/22/2014 ABOUT THE AFFORDABLE HOUSING CORPORATION OF LAKE COUNTY AHC is a nonprofit agency that increases and preserves affordable housing opportunities
More informationCity of Wichita. Housing and Community Services Department HOME INVESTMENT PARTNERSHIPS PROGRAM HOUSING DEVELOPMENT LOAN PROGRAM
City of Wichita Housing and Community Services Department HOME INVESTMENT PARTNERSHIPS PROGRAM HOUSING DEVELOPMENT LOAN PROGRAM 2015-2016 Program Year INFORMATION PACKET APPLICATION FORM 1 Overview and
More informationCalifornia Home Finance Authority (CHF)
Presentation for Real Estate Professionals California Home Finance Authority (CHF) 1215 K Street, Suite 1650, Sacramento, CA 95814 www.chfloan.org (855) 740-8422 Often first point of contact for a new
More information- 1 - Neighborhood Stabilization Program Information Summary Sheet
- 1 - Neighborhood Stabilization Program Information Summary Sheet Eligible Uses: Purchase and rehab abandoned or foreclosed homes and residential properties. Establishing financing mechanisms for purchase
More informationU.S. Department of Housing and Urban Development Office of Community Planning and Development
Hud-40096 Homebuyer/Homeowner Rehab Completion Report HOME Program U.S. Department of Housing and Urban Development Office of Community Planning and Development OMB Approval No. 2506-0171 (Exp. 05/31/2007)
More informationHousing Affordability Analysis in Support of a Development Impact Fee Study. Town of Fort Mill, South Carolina
Housing Affordability Analysis in Support of a Development Impact Fee Study Town of Fort Mill, South Carolina Final Document February 23, 2015 The South Carolina Development Impact Fee Act (Code of Laws
More informationForsyth County Housing & Community Development Homeownership Program (FCHP) AHOP / HOME PROGRAM
Forsyth County Housing & Community Development Homeownership Program (FCHP) AHOP / HOME PROGRAM I. Program Purpose: The Forsyth County Homeownership Program (FCHP) provides funds to assist with the down
More informationNeighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014
Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014 Overview Neighborhood Lending Partners Certified as a CDFI-providing
More informationCITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES
CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES 100. Purpose The Murfreesboro Affordable Housing Assistance Program (the Program) encourages homeownership for low-income,
More informationA Consumer s Guide to Title Insurance. Developed by the Michigan Land Title Association
A Consumer s Guide to Title Insurance Developed by the Michigan Land Title Association Why do you Need Title Insurance? Buying a home is the single largest investment most people will ever make. Title
More informationAttachment B. FCRHA Housing Choice Voucher Section 8 Homeownership Capacity Statement
Attachment B FCRHA Housing Choice Voucher Section 8 Homeownership Capacity Statement The Fairfax County Redevelopment and Housing Authority (FCRHA) has the capacity to administer a Section 8 (Housing Choice
More informationThe Section 8 Homeownership Program. Section 8 Families: Are You Ready for Homeownership? Introducing the Section 8 Homeownership Program
The Section 8 Homeownership Program Section 8 Families: Are You Ready for Homeownership? Introducing the Section 8 Homeownership Program Section 8 Homeownership Questionnaire Name Now You May Use Your
More informationQualification/Application Process for Purchasing Sitka Community Land Trust Home
SITKA COMMUNITY DEVELOPMENT CORPORATION Community-Supported, Sustainable, Affordable Home Ownership EIN: 35-2292107 PO Box 6461, Sitka, AK 99835 * P/F: 907-747-2860 C: 907-738-2888 * sitkaaffordablehousing.org
More informationFaculty and Staff Home Buyer s Guide
Faculty and Staff Home Buyer s Guide Table of contents Welcome Welcome Should I buy or rent? Renting vs. Buying Comparison Pre-approval Process Mortgage Programs 3 4 5 6 7 The University Housing & Relocation
More informationSouthwest Colorado Regional Housing Plan
Draft Report Southwest Colorado Regional Housing Plan Prepared for: Southwest Colorado Housing Collaborative Prepared by: Economic & Planning Systems, Inc. January 21, 2010 EPS #20829 Table of Contents
More informationHOMEBUYER S GUIDE. Know what it takes to buy your first home
HOMEBUYER S GUIDE Know what it takes to buy your first home homebuyer s guide If you re thinking about buying a home, we say congratulations. Most likely, it s the biggest purchase decision you ve made
More informationNEIGHBORHOOD STABILIZATION PROGRAM (NSP) APPLICATION FOR NSP LOAN. Program Guidelines
APPLICATION FOR NSP LOAN Income limits per household Program Guidelines Maximum Income 1 48,150 2 55,000 3 61,900 4 68,750 5 74,250 6 79,750 7 85,250 8 90,750 Homebuyer Requirements Home Education Minimum
More information910 17 th Street, NW 5 th Floor Washington, DC 20006. Tel: 202.349.1860 / Fax: 202.289.9009 www.self-help.org
Dangerous lending practices and loose underwriting in the subprime mortgage market have left more than 2.2 million families in danger of losing their homes to foreclosure over the next few years. Self-
More informationCommonwealth of Massachusetts HOME Investment Partnerships Program/Housing Stabilization Fund Project-Based Homeownership Program
Commonwealth of Massachusetts HOME Investment Partnerships Program/Housing Stabilization Fund Project-Based Homeownership Program Application Guidelines A. Overview The Commonwealth of Massachusetts Department
More informationCity of Garland First Time Homebuyer Program 2013-2014 Client Information FTHP Down Payment Assistance
City of Garland First Time Homebuyer Program 2013-2014 Client Information FTHP Down Payment Assistance Program Overview The City of Garland Housing and Community Services is implementing the new First
More informationRoles of a Housing Counselor
Roles of a Counselor Homeowners! Get real help, free of charge from a HUD approved counseling agency. Denise Keiser, Executive Director Center for Financial Health Who is a housing counselor? Employed
More informationFederal Home Loan Bank of Cincinnati Affordable Housing Program
Federal Home Loan Bank of Cincinnati Affordable Housing Program Damon V. Allen, Presenter 2014 National Community Land Trust Conference This presentation may contain forward-looking statements that are
More informationVillage of Ossining Affordable Housing Rules and Regulations (as revised 1/15/13)
Village of Ossining Affordable Housing Rules and Regulations (as revised 1/15/13) Purpose: The Village Board of Trustees adopted an Affordable Housing Policy on April 14, 2006 and Chapter 62 of the Village
More informationReNew Grant Guidelines
Brooklyn Center ReNew Buyer Incentive Program Greater Metropolitan Housing Corporation Program Summary The Economic Development Authority (EDA) of Brooklyn Center, Minnesota (EDA) has partnered with the
More informationWelcome to the TSAHC Lender Training
Welcome to the TSAHC Lender Training About Us TSAHC is a 501(c)3 nonprofit organization. Our mission is to serve the housing needs of low income Texans and other underserved populations. We fulfill our
More informationA Loan Origination and Servicing Solution For Habitat for Humanity Affiliates
A Loan Origination and Servicing Solution For Habitat for Humanity Affiliates Habitat for Humanity Michigan Fund, Inc. HFHMF Created to assist Habitat for Humanity Affiliates with mortgage origination
More informationBECOME A BMR HOMEOWNER!
BECOME A BMR HOMEOWNER! History of the City of Morgan Hill BMR Program The City of Morgan Hill contracted its Below Market Rate (BMR) Program to NHSSV in May 2012 in response to the State s elimination
More informationMetro Interfaith Housing Counseling. Tell Us About Yourself. General Information Primary
Metro Interfaith Housing Counseling 21 New St, Binghamton, NY 13903 Phone: 607.723.0582 Fax: 607.722.8912 Tell Us About Yourself Print clearly. Use additional sheets if necessary. Information provided
More informationHome Buying Best Practices
LOAN AND HOME BUYING BEST PRACTICES About TSAHC The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit housing corporation created at the direction of the Texas Legislature to facilitate
More informationNEIGHBORHOOD LAND BANK
NEIGHBORHOOD LAND BANK Purpose: Contribute to the community stabilization, revitalization and preservation of San Diego County s communities, particularly San Diego s low and moderate income communities,
More informationTHE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA DATE: DECEMBER 16, 2004 C9 2010 ROBERT R. OVROM, CHIEF EXECUTIVE OFFICER
THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA REVISED Pg. 3 as underlined and Attachment C as underlined, also deleting #10 & 11 M E M O R A N D U M 17 DATE: DECEMBER 16, 2004
More informationMACOMB COUNTY NEIGHBORHOOD STABILIZATION PROGRAM HOMEBUYER ASSISTANCE FOR VACANT FORECLOSED PROPERTIES
MACOMB COUNTY HOMEBUYER ASSISTANCE OVERVIEW and GUIDELINES OVERVIEW Macomb County s Homebuyer Program for Vacant Foreclosed Properties is part of the Neighborhood Stabilization Program (NSP) created by
More information10 Best States for First-Time Homebuyers
10 Best States for First-Time Homebuyers July 6, 2015 By Elyssa Kirkham, Editor Buying a home is a financial goal that has been delayed for many Americans thanks to the recent recession. With the economy
More informationAVAILABLE DOWN PAYMENT ASSISTANCE PROGRAMS IN CLARK COUNTY
WISH Program with Housing For Nevada (HFN) To be eligible for WISH funds, the homebuyer must meet the following criteria: Homebuyer must successfully complete 8 hour Homebuyer education class and one on-one-counseling
More informationHelping to make buying a home more affordable
Helping to make buying a home more affordable What we ll cover 1. Are you ready to be a homeowner? 2. Overview of programs to help make buying a home more affordable 3. Types of programs available to you
More informationThe Guide to Single Family Home Mortgage Insurance
U.S. Department of Housing and Urban Development Office of Housing Office of Single Family Housing The Guide to Single Family Home Mortgage Insurance www.hud.gov espanol.hud.gov Becoming a Homeowner Many
More informationThe City of Kenner Community Development Department
The City of Kenner Community Development Department First Time Homebuyers Training Program Description and Objectives The homebuyer education class explains the home-buying process to prospective homeowners,
More informationNative American Homeownership Initiative 2013 Program Guidelines As Amended June 19, 2013
1. Program Summary Effective January 2, 2013, the Bank will allocate $300,000 of its annual required AHP contribution to provide down payment, closing cost, counseling, or rehabilitation assistance to
More informationISLIP IX BRENTWOOD WORKFORCE HOUSING PROGRAM
ISLIP IX BRENTWOOD WORKFORCE HOUSING PROGRAM PROGRAM GUIDELINES Please Read Carefully I. Program Description The Long Island Housing Partnership, Inc. and its Affiliates (LIHP) and the Islip Town Community
More informationNationwide Mortgage Licensing System #222955
Nationwide Mortgage Licensing System #222955 Senior Concerns Is your mortgage paid off? Is your Social Security and/or pension sufficient? Rising costs of living: gas, health care, food, utilities, medications,
More informationSection 1.16a Resale/Deed Restrictions Guidelines
Section 1.16a Resale/Deed Restrictions Guidelines In This Section This section contains the following topics: Overview... 2 Introduction... 2 Related Bulletins... 2 General... 2 Identification and Eligibility
More informationAgencies and Resources
The following local, state and federal agencies administer programs or provide funds for housing programs and projects: Murray County EDA P.O. Box 57 Slayton, MN 56172 Contact: Amy Hoglin, Economic Development
More informationHome Buyer Self Pre-Qualification Workbook
Home Buyer Self Pre-Qualification Workbook Bethel Community Development Corporation Bethel Community Development Corporation 1525 Michigan Avenue Buffalo, NY 14209 (716) 886-1650, ext 225 Fax: (716) 886-2311
More informationIndiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements
2014 Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements 30 South Meridian Street, Suite 1000 Indianapolis, Indiana 46204 317.232.7777(p)
More informationCOEUR D ALENE TRIBAL HOUSING AUTHORITY MORTGAGE FINANCING ASSISTANCE FINAL POLICY (CDTHA MFA)
COEUR D ALENE TRIBAL HOUSING AUTHORITY MORTGAGE FINANCING ASSISTANCE FINAL POLICY (CDTHA MFA) November 2006 TABLE OF CONTENTS I. General...3 II. Eligible Recipients...3 III. Selection Criteria...4 IV.
More informationUSDA Business & Industry (B&I) Guaranteed Loan Program
USDA Business & Industry (B&I) Guaranteed Loan Program B&I Program To Create And Maintain Employment And Improve Economic And Environmental Climate In Rural Communities Administered By The Rural Business
More informationHOME BUYING MADE EASY. Know what you need to get it right.
HOME BUYING MADE EASY Know what you need to get it right. HOME BUYING MADE EASY PNC, PNC AgentView and Home Insight are registered service marks of The PNC Financial Services Group, Inc. ( PNC ). PNC has
More information8 CREDIT SCORE MANAGEMENT TIPS
8 CREDIT SCORE MANAGEMENT TIPS How to get your credit mortgage-ready Your credit score can affect your ability to get approved for a mortgage and may even help you get a better interest rate. This guide
More informationMortgage Credit Certificate Program Lender Application Package
Thank You for Your Interest Mortgage Credit Certificate Program Lender Application Package Texas State Affordable Housing Corporation ( TSAHC ) is pleased to extend an invitation to its qualified lenders
More informationHOUSING LOAN SUBORDINATION POLICY
HOUSING LOAN SUBORDINATION POLICY Housing Loan Subordination Policy OBJECTIVE: To provide administrative guidance on processing requests for subordination of City/Agency loans PURPOSE: In consideration
More informationHOME BUYING MADE EASY. Live the dream of owning your own home.
HOME BUYING MADE EASY Live the dream of owning your own home. HOME buying Made Easy PNC, PNC AgentView and Home Insight are registered service marks of The PNC Financial Services Group, Inc. ( PNC ). PNC
More information