Homeowner Handbook. 88 King Street Burlington, Vermont

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Homeowner Handbook. 88 King Street Burlington, Vermont 05401 802-862-6244"

Transcription

1 Homeowner Handbook 88 King Street Burlington, Vermont January 2012

2 Table of Contents Review of the Ground Lease Page 2 Review of the Housing Subsidy Covenant Page 3 Lease and Membership Fees Page 3 Taxes Page 4 Capital Improvement Credit Page 5 Homeowner s Insurance Page 5 Refinances and Home Equity Loans Page 6 Selling Your Home Page 6 Ongoing HomeOwnership Center Services Page 7 CHT Loan Fund Page 7 Champlain Housing Trust Membership Page 8 Keeping in Touch with CHT Page 8 Champlain Housing Trust Homeowner Handbook 1

3 Review of the Ground Lease for Single Family Homeowners The Ground Lease describes the long-term agreement between the Champlain Housing Trust (CHT) and the homeowner. This is a legally binding document which spells out the rights, responsibilities and requirements of homeowners. A plain-language summary of the key points contained in this document is below. Shared Appreciation: In exchange for the down payment assistance you received at purchase, you agree to share any appreciation on your home when you sell. Generally, you will receive 25% of the increase in value during the time you live in the home, plus any capital improvement credit that you receive. CHT s option to purchase: If you decide to sell your home, you agree to follow the resale process. CHT has the first option to buy your home. Duration of the Lease: The term of the lease is 99 years. Owner-Occupancy: You have agreed to use the property as your primary residence for at least six months of every year. You may not build any commercial structures or additional living space to rent out. Responsible use: You agree to use the property responsibly, in an ecologically sound manner, and to be responsible for the actions of others who you allow to use the property. Ground Lease Fee: You agree to pay a fee for the use of the land. The amount of the fee can be adjusted only every 5 years and shall not increase more than ten dollars ($10.00) per month over the ground lease fee charged during the preceding five year term. Taxes: You are responsible for all taxes and assessments on the land and home. Insurance: You agree to keep the home properly insured and to name CHT as an additionally insured party so we receive notification of any changes in insurance status. Improvements: You will own everything but the land (all buildings and structures). If you make any changes to or additions to the home or other structures, you are responsible for making sure they are up to Code (comply with local building and safety regulations). You agree to notify CHT before beginning any work. Termination: You can terminate the Ground Lease at any time by giving us 180 days notice, at which point you must either sell the home in accordance with CHT resale procedures or remove the home from the land. CHT can terminate the Ground lease if you intentionally violate any of the terms of the agreement. Forced Sale or Judicial Sale, Condemnation, and Eminent Domain: If the land is taken under any of these circumstances, the Ground Lease will be terminated and both the homeowner and CHT will be release from any liability. Indemnification: CHT is not liable for any loss, injury, death, or damage that happens on the leased land. Champlain Housing Trust Homeowner Handbook 2

4 Review of the Housing Subsidy Covenant for Condo Homeowners The Housing Subsidy Covenant (HSC) describes the long-term agreement between the Champlain Housing Trust (CHT) and the homeowner. This is a legally binding document which spells out the rights, responsibilities and requirements of homeowners. A plainlanguage summary of the key points contained in this document is below. Shared Appreciation: In exchange for the down payment assistance you received at purchase, you agree to share any appreciation on your home when you sell. Generally, you will receive 25% of the increase in value during the time you live in the home, plus any capital improvement credit that you receive. CHT s option to purchase: If you decide to sell your home, you agree to follow the resale process. CHT has the first option to buy your home. Owner-Occupancy: You have agreed to use the property as your primary residence for at least six months of every year. You may not build any commercial structures or additional living space to rent out. Responsible use: You agree to use the property responsibly, in an ecologically sound manner, and to be responsible for the actions of others who you allow to use the property. Membership Fee: You agree to pay a membership fee to CHT. The amount of the fee can be adjusted only every 5 years and shall not increase more than ten dollars ($10.00) per month over the ground lease fee charged during the preceding five year term. Insurance: You agree to keep the home properly insured and to name CHT as an additionally insured party so we receive notification of any changes in insurance status. Mediation and Arbitration: You agree to use mediation and arbitration to resolve any disputes that may arise between you and CHT. Lease and Membership Fees CHT charges a $35/month lease fee to owners of single family homes. CHT charges a $25/month membership fee to owners of condominiums. CHT s accounting department bills owners every month for this fee along with property taxes if applicable (see below). CHT keeps this lease fee as low as possible in an effort to not burden homeowners. *Note: Nonpayment of lease or membership fees is considered a default on your mortgage. Champlain Housing Trust Homeowner Handbook 3

5 Taxes Single Family Homes Taxes for single family home owners (leaseholders) are handled one of two ways, depending on the town in which you live. Some towns bill the leaseholder directly for taxes on the land and your home. If this is the case all taxes are paid directly to either the town in which you live or your mortgage lender (if you are escrowing). Most towns hold CHT responsible for paying and billing for taxes on the land since the land is owned by CHT. In these situations, the town will send CHT a bill for land taxes for all leaseholders at the start of each tax year. Property tax years run from July 1 to June 30, so we normally receive these bills towards the end of July or early August. CHT will then bill the leaseholder monthly for these bills, while paying the respective towns on a quarterly basis. Any adjustments, increases or decreases in tax amount, will be included with the first billing of the new tax year. This tends to be either August or September depending on when CHT received the tax bill. CHT will also enclose a copy of the bill for the leaseholders' records. Tax law and forms change regularly. CHT offers an annual Tax Workshop that provides an overview of tax issues for new homeowners. CHT staff strive to stay current on real estate tax issues that affect homeowners, but we cannot provide tax advice. It may be to your advantage to seek help from a tax professional in preparing your taxes once you are a homeowner. At the beginning of each calendar year, CHT will send all tax-paying leaseholders a statement of what they paid during the previous year. The payments will be broken out into what was applied to Taxes, Lease Fees, and any prior balances. It is important for leaseholders to keep current with the taxes paid to CHT, as they can only claim those taxes actually paid, when filing their Federal and State Income Tax forms. CHT will also send copies of the tax bills that correspond to the prior calendar year as reference. In an effort to make the filing of taxes for leaseholders more convenient, we will also send an informational letter describing how these statements affect your filing needs. In Vermont, homeowners are required to file a form every year by April 15 th to declare their residence as a Homestead. Each tax bill has a SPAN number that identifies an individual property. If you receive only one tax bill for your home and the land it sits on, all of the information you need in included on that bill and you have a single SPAN number. If you are being billed by CHT for taxes on the land under your home, there are two tax bills (one for land, one for home) thus there are two SPAN numbers. CHT and the Tax Department have decided that the leaseholder is responsible for filing a Homestead Declaration form each year for the home only. Use the SPAN number on the bill provided to you by either your town clerk s office or your mortgage lender. CHT is responsible for filing the form for the land portion, and will do so each year. At the end of each January, CHT will send out a statement to all homeowners who have separate land tax bills, indicating the total amount of tax that you have paid so you can claim it on your Homestead Declaration. The Tax Department provides a line for you to indicate the amount of Municipal Tax Allocated from Land Trust, Co-op, or Nonprofit Mobile Home Park, and one for Education Tax Allocated from Land Trust, Co-op or Nonprofit Mobile Home Park. Remember that you can only claim the amount of tax you have actually paid to CHT. Champlain Housing Trust Homeowner Handbook 4

6 Taxes - Condos Taxes for condominium owners are billed to the homeowner directly and condominium owners only have one SPAN number to use when filing the Homestead Declaration form. Because there is no ownership of land involved in owning a condominium, filing the Homestead Declaration form is fairly straightforward. CHT has no involvement in this process with condo owners. If you have questions about your taxes that relate to CHT, you can Janet Harvey-Coutrayer at Capital Improvement Credit Remember that if you are making significant improvements to your home, you should keep a record of the work you are doing. As it states in the documents you signed at purchase, CHT has a capital improvement credit policy. If you add market value to your home by upgrading and improving it, you can get 100% credit for the market value that you have added. If you do a major project, (like build an addition to or remodel your home), you should order a fair market fee simple appraisal of the value before you start the project. Then, immediately after the project is complete, you should have the appraiser return to determine the new value with the improvements. You will submit the two appraisals to CHT for our review, and we will determine your capital improvement credit. The increase in value will be credited to you when you sell or refinance, in addition to your share of the remaining appreciation as laid out in the formula in your agreement with CHT. We have a list of qualified local appraisers that we can share with you. It is important to remember the distinction between the value of your improvement and what you may have spent on the improvement. That is to say; you may have spent $5,000 on an improvement; however it may only add $2,000 of value your home. It is also important to remember that not every improvement will add market value to your home. Generally, a capital improvement is something that a subsequent buyer would pay extra for (for example, an extra bathroom). If you are doing small projects on your own over time, you should keep a file with before and after photos of your work, and receipts from materials and costs associated with the work. CHT does not reimburse for expenses, this is simply for the purpose of documenting the improvements. If you have good documentation of the work done on the home, CHT can ask the appraiser to review this at time of resale and try to establish a value for the improvements. We will credit you for capital improvements as established by the appraiser, as long as there is sufficient appreciation on the home to allow for it. Homeowner's Insurance You need to maintain homeowners insurance (sometimes called hazard insurance) on your home. If you own a single family home, your insurance policy must list CHT as an additional insured party. CHT s address is 88 King Street, Burlington, VT If you received a grant from the Vermont Housing and Conservation Board (VHCB), you need to Champlain Housing Trust Homeowner Handbook 5

7 have VHCB listed as a loss payee on your policy. VHCB s address is 58 East State Street, Montpelier, VT If you own a condominium, we ask that you request that CHT be listed as "additional insured" or additional interest on your policy, though not all insurance agents will honor this request. Remember that if you change insurance companies, you need to add us to your new policy as an additional insured. These measures assure CHT that your home is properly insured and that CHT will be notified if the insurance is cancelled or if there is an insurance claim on the home. This helps us make sure that you and your home are protected. Refinances or Home Equity Loans If you own a CHT single family home or condominium, you must contact CHT when you are thinking about refinancing or taking out a home equity loan. Not all lenders will refinance a CHT property and we can provide a referral list of lenders who have refinanced CHT homes. A CHT staff member will need to review your proposed loan and prepare documents for your closing. This process generally takes a few weeks and CHT charges a fee of $225, plus legal fees. Remember, because you have agreed to share your appreciation with the land trust, you can only borrow against the share of the equity in the home which is yours, not against the full market value of the home. If you are taking "cash out", CHT will need to review an appraisal in order to determine your share of the equity in your home. Home equity lines of credit are not allowed. CHT s review assures that you don t take more equity out of your home then is available and end up upside down. Please call Jaclyn Marcotte ( ) to start the conversation with CHT about refinancing. Selling your Home When you are ready to sell your CHT single family home or condominium, it is important to note that the process for selling your CHT home may take longer than it might if you were selling on the open market. Generally, the process will take at least three to four months unless there are extenuating circumstances. The benefit is that you do not incur the cost of hiring a Realtor, as we handle the sales process for you. Planning ahead, communicating with CHT, and allowing adequate time will make the process less stressful for you. If you decide to sell your home, you must notify us in writing of your intent to sell. Contact Jaclyn Marcotte at and she will send you a letter to read and return. If your marital status has changed since you purchased your home, please notify us of the change at this time. Once we have received your intent to sell, CHT will order an independent appraisal to determine the current value of your home. From the current value, we will determine price that CHT will buy your home (called the option price of your home). The cost of the appraisal is split by you and CHT. The option price is determined by the resale formula contained in the legal documents you signed at purchase. You will get 25% of the increase in the value of your home while you owned it. You will receive 100% of any established capital improvement credit. You will Champlain Housing Trust Homeowner Handbook 6

8 also receive 100% of any equity built by paying down principal on your mortgage. All other debts on the home (including closing cost loans, second mortgages, and other liens) must be paid upon sale of your home. If you choose not to sell, you ll need to reimburse CHT for the full cost of the appraisal. NOTE: It is possible that your home will not appreciate. This is a risk of homeownership. If your home depreciates, you will be responsible for the total amount of the depreciation. Once we have determined the option price, we will notify you in writing. If you continue with the sale, we will begin marketing the property. During the marketing period, we will arrange showing times with you and hold open houses for potential buyers. The initial showing period is usually one week. If after the initial showing period, we have one or more qualified and interested buyer, we will select a buyer. If not, we will continue to market the property. CHT has a set period of time to exercise its option to purchase the home, 180 days. After that period, the option period can be extended by mutual agreement between the homeowner and CHT. In a slow real estate market, selling within this time period may be difficult. Be assured that CHT will do everything in our power to sell your home in a timely manner. If your home does not sell in the option period, you can follow the procedure indicated in your legal documents, or in extreme circumstances, CHT will work with you and our funding partners to find an alternative solution. Once CHT selects an eligible buyer for your home, we will sign a tri-party contract between you, CHT, and the new buyer which lays out the terms of sale. The buyer is required to have an independent home inspection during the contract period, which CHT will coordinate with your schedule. As a seller, you will be expected to take responsibility forhaving the home in good condition to market, and resolving any health and safety and/or deferred maintenance issues that are raised at the inspection. CHT will be actively involved in the resolutions of inspection issues. Finally, you will need to attend the closing to sign the legal documents involved in the sale. If you are purchasing another home, CHT will do our best to coordinate with your schedule. There will be some closing costs associated with selling your home. These will be outlined in the letter of intent to sell. Ongoing Homeownership Center Services Once a Homeownership Center customer, always a Homeownership Center customer! CHT s Homeownership Center offers ongoing services and programs for new homeowners. Every winter we hold a workshop regarding federal and state income tax returns as a homeowner. We also provide workshops on home maintenance, repair, credit, refinancing, energy efficiency, and other issues of interest to homeowners. Visit our website (www.getahome.org) or contact us at for more information. Champlain Housing Trust Homeowner Handbook 7

9 Champlain Housing Loan Fund Champlain Housing Trust manages a revolving loan fund to serve customers when funds are available for closing costs, rehabilitation, home improvement, and other products. The loan pool is capitalized by a variety of public and private sources each having its own eligibility criteria. All loan applications are subject to review and approval in accordance with eligibility requirements, CHT underwriting guidelines and fund availability. Please call Becca McNamara at x105 for information. CHT Membership Champlain Housing Trust is a membership organization. You will be a voting member of the organization as long as you are a homeowner. As a member of the Champlain Housing Trust, you have a voice in how the Housing Trust is run. You are encouraged to join a committee, elect board members or run for a seat on the board, help us with fundraising, and attend our annual meeting and annual resident events. We welcome your input! Keeping in Touch with CHT If you are not sure that CHT has your current work and home phone numbers, please call us. We make an effort to collect this information at time of purchase, but if you didn t have your new number at that point, or you have since changed jobs, we may not be able to contact you! Homeownership Staff to Remember Becca McNamara x105 Champlain Housing Loan Fund Jaclyn Marcotte refinance, selling, and contact information updates Janet Harvey-Coutrayer Homeowner counseling and tax questions Main CHT Line Champlain Housing Trust Homeowner Handbook 8

CITY OF PASSAIC DEPARTMENT OF COMMUNITY DEVELOPMENT 330 PASSAIC STREET PASSAIC, NEW JERSEY 07055

CITY OF PASSAIC DEPARTMENT OF COMMUNITY DEVELOPMENT 330 PASSAIC STREET PASSAIC, NEW JERSEY 07055 CASE NUMBER enter number (office use only) CITY OF PASSAIC DEPARTMENT OF COMMUNITY DEVELOPMENT 330 PASSAIC STREET PASSAIC, NEW JERSEY 07055 FIRST TIME HOMEBUYER ASSISTANCE PROGRAM AGREEMENT HUD # APPLICANT

More information

Housing Cooperatives. An Accessible and Lasting Tool for Home Ownership. Northcountry Cooperative Development Fund

Housing Cooperatives. An Accessible and Lasting Tool for Home Ownership. Northcountry Cooperative Development Fund Housing Cooperatives An Accessible and Lasting Tool for Home Ownership Northcountry Cooperative Development Fund Did you know. that in the United States, more than 1.5 million families of all income levels

More information

More than just housing... CO-OP HOUSING

More than just housing... CO-OP HOUSING More than just housing... CO-OP HOUSING How you can profit by living in a housing cooperative. Introduction A combination of factors including the rising cost of housing in recent years, have forced many

More information

A Consumer s Guide to. Buying a Co-op

A Consumer s Guide to. Buying a Co-op A Consumer s Guide to Buying a Co-op A Consumer s Guide to Buying a Co-op In the United States, more than 1.2 million families of all income levels live in homes owned and operated through cooperative

More information

BUYER'S DISCLOSURE STATEMENT

BUYER'S DISCLOSURE STATEMENT BUYER'S DISCLOSURE STATEMENT CITY OF WALNUT CREEK INCLUSIONARY HOUSING PROGRAM ADMINISTRATIVE COVER SHEET (Remove Upon Completion) BLANK LINES: CHECKLIST Eligible Purchaser Income Level, p. 3, Section

More information

buying your First Home

buying your First Home buying your First Home A step-by-step guide to the home buying process buying your First Home Although the experience of owning your first home can be fulfilling and exciting, the actual financing and

More information

BUYING AND SELLING A HOME

BUYING AND SELLING A HOME BUYING AND SELLING A HOME 4th Fighter Wing Office of the Staff Judge Advocate 1600 Wright Brothers Ave, Suite 265 Seymour Johnson AFB NC 27531 (919)722-5322 Current as of September 2014 Buying a house

More information

Step 1 Getting Pre-Qualified

Step 1 Getting Pre-Qualified Step 1 Getting Pre-Qualified Now that you ve made the decision to purchase a home, the next step is to get pre-qualified from a lending institution, like Michigan Mortgage Solutions, to determine how much

More information

Presented by Concorde Mortgage Co.

Presented by Concorde Mortgage Co. Presented by Concorde Mortgage Co. Zanesville Office (740) 454-8876 Coshocton Office (740) 623-2995 Toll Free (800) 579-1291 Website: www.concorde-mortgage.com 1) Are You Ready to Buy? 2) Important Financing

More information

BUYER'S DISCLOSURE STATEMENT

BUYER'S DISCLOSURE STATEMENT Marin County Below Market Rate Home Ownership Program BUYER'S DISCLOSURE STATEMENT Buyer(s): Property Address: Name of Development: Local Jurisdiction: Income Category of Unit: Purchase Price: NOTICE:

More information

BORROWER DISCLOSURE STATEMENT First Time Homebuyer Program (Inclusionary Housing Unit and BEGIN Loan) CITY OF CONCORD

BORROWER DISCLOSURE STATEMENT First Time Homebuyer Program (Inclusionary Housing Unit and BEGIN Loan) CITY OF CONCORD BORROWER DISCLOSURE STATEMENT First Time Homebuyer Program (Inclusionary Housing Unit and BEGIN Loan) CITY OF CONCORD The City of Concord (the "City") has adopted an Inclusionary Housing Ordinance, City

More information

Owning a Co-op 10 questions to ask before you buy

Owning a Co-op 10 questions to ask before you buy Owning a Co-op 10 questions to ask before you buy So you want to own a Co-Op! If you re a first-time homebuyer, this is probably one of the biggest financial decisions you have ever made. As rents escalate

More information

Tips for First Time Home Buyers

Tips for First Time Home Buyers Tips for First Time Home Buyers Thinking about buying your first home? Andrew L. Jaloza & Associates will help you understand the process of home ownership so you can make informed decisions about your

More information

Investing in real estate in today s market

Investing in real estate in today s market Investing in real estate in today s market Objective Module 1 Establishing your investment Defining your investment objective Advantages vs. disadvantages Managing two home loans Debt-to-income ratio Financing

More information

GENERAL TIPS FOR BUYING AND SELLING A HOME

GENERAL TIPS FOR BUYING AND SELLING A HOME USAF ACADEMY LEGAL OFFICE 2304 Cadet Drive, Suite 2100 USAFA, CO 80840 (719) 333-3940 GENERAL TIPS FOR BUYING AND SELLING A HOME Types of Homes Buying a house will be one of the biggest investments one

More information

BUYING YOUR FIRST HOME. Live the dream of owning your own home.

BUYING YOUR FIRST HOME. Live the dream of owning your own home. BUYING YOUR FIRST HOME Live the dream of owning your own home. HOME BUYING MADE EASY PNC, PNC HomeHQ, PNC Home Insight and Home Insight are registered service marks of The PNC Financial Services Group,

More information

Homebuyers Information Guidebook

Homebuyers Information Guidebook Homebuyers Information Guidebook Comparing Buying and Renting Getting Your Financial Picture In Focus Developing a Budget Determining Your Housing Needs and Wants Finding and Choosing a Real Estate Agent

More information

What s s New With FHA?

What s s New With FHA? What s s New With FHA? Presented By: Bill Ladewig 866.204.9733 http://www.mortgage- FHA Calculator Calculates everything needed to quote or qualify FHA loans Click to Open: http://www.themtgmentor.com/fha_mortgage_calculator.html

More information

We represent your lender in the refinancing of your property. In order for the closing to go as smoothly as possible, we need your assistance.

We represent your lender in the refinancing of your property. In order for the closing to go as smoothly as possible, we need your assistance. R. Craig Reynolds Craig@ReynoldsLaw.com Francisco C. Melón Carlos@ReynoldsLaw.com We represent your lender in the refinancing of your property. In order for the closing to go as smoothly as possible, we

More information

Guide to Purchasing a Home

Guide to Purchasing a Home Your journey to homeownership starts at your credit union. Purchasing your first home is a big decision, and it may even seem overwhelming. Rest assured Beacon Credit Union is here to assist you in understanding

More information

Housing Opportunities for Native Americans & Alaska Natives NativeNatives

Housing Opportunities for Native Americans & Alaska Natives NativeNatives Housing Opportunities for Native Americans & Alaska Natives NativeNatives The Section 184 Indian Home Loan Guarantee program is a home loan product for federally recognized tribal members, tribes, and

More information

What is a Community Land Trust?

What is a Community Land Trust? What is a Community Land Trust? Community Land Trusts are community-based membership organizations whose missions include permanent stewardship of land for community benefit and perpetual preservation

More information

Adjustment Date - The date on which the interest rate changes for an adjustable-rate mortgage (ARM).

Adjustment Date - The date on which the interest rate changes for an adjustable-rate mortgage (ARM). Glossary A Adjustable Rate Mortgage - An adjustable rate mortgage, commonly referred to as an ARM, is a loan type that allows the lender to adjust the interest rate during the term of the loan. Generally,

More information

How to Sell Your Home FAST And For FULL PRICE!!

How to Sell Your Home FAST And For FULL PRICE!! FREE Special Report: Compliments of www.bobbuysfast.com How to Sell Your Home FAST And For FULL PRICE!! DISCOVER how you can sell your home fast and for Full Price even if your house has been on the market

More information

WHAT YOU SHOULD KNOW ABOUT BUYING A HOME IN A CONDOMINIUM, COOPERATIVE, OR HOMEOWNERS ASSOCIATION

WHAT YOU SHOULD KNOW ABOUT BUYING A HOME IN A CONDOMINIUM, COOPERATIVE, OR HOMEOWNERS ASSOCIATION WHAT YOU SHOULD KNOW ABOUT BUYING A HOME IN A CONDOMINIUM, COOPERATIVE, OR HOMEOWNERS ASSOCIATION Montgomery County, Maryland Commission on Common Ownership Communities 2011 WHAT YOU REALLY NEED TO KNOW

More information

Home Equity Loans and Credit Lines HELOC

Home Equity Loans and Credit Lines HELOC Home Equity Loans and Credit Lines HELOC If you re thinking about making some home improvements or looking at ways to pay for your child s college education, you may be thinking about tapping into your

More information

Reverse Mortgage Self-Evaluation:

Reverse Mortgage Self-Evaluation: Reverse Mortgage Self-Evaluation: A CHECKLIST OF KEY CONSIDERATIONS www.reversemortgage.org A reverse mortgage is a loan that enables homeowners that are generally 62 years of age or older to use part

More information

CONTRACT FOR DEED. What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome

CONTRACT FOR DEED. What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome CONTRACT FOR DEED What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome Copyright 2012 CONTRACT FOR DEED Is it the right option for me? This publication is intended to provide advice

More information

cäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö

cäéñáäáäáíáéë 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 information

Mueller Affordable Homes Program Details and FAQs

Mueller 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 information

DISCLAIMER. Page - 1 - of 17

DISCLAIMER. Page - 1 - of 17 DISCLAIMER The information provided in this presentation and any printed material is for informational purposes only. None of the forms, materials or opinions is offered, or should be construed, as legal

More information

Real Estate Acquisition Guidelines For: WEST SACRAMENTO AREA FLOOD CONTROL AGENCY. Sacramento River Southport Early Implementation Project

Real Estate Acquisition Guidelines For: WEST SACRAMENTO AREA FLOOD CONTROL AGENCY. Sacramento River Southport Early Implementation Project Real Estate Acquisition Guidelines For: WEST SACRAMENTO AREA FLOOD CONTROL AGENCY Sacramento River Southport Early Implementation Project TABLE OF CONTENTS Introduction... 1 Before the Acquisition Process

More information

FHA Amendatory Clause & Real Estate Certification

FHA Amendatory Clause & Real Estate Certification FHA Amendatory Clause & Real Estate Certification Borrower Name(s): Borrower Address: Property Address: FHA Case Number: FHA AMENDATORY CLAUSE It is expressly agreed that notwithstanding any other provisions

More information

GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422

GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 TYPES OF HOMES Buying a house will be one of the biggest investments one will ever

More information

PROPERTY MANAGEMENT AGREEMENT

PROPERTY MANAGEMENT AGREEMENT PROPERTY MANAGEMENT AGREEMENT OWNER: AGENT: PROPERTY: APN: Owner and Property Manager, as hereinafter identified, agree as follows: 1. APPOINTMENT OF AGENT: Owner hereby appoints and grants Property Manager

More information

This is a Legally-Binding Contract. We Recommend All Parties To The Contract Consult An Attorney Before Signing.

This is a Legally-Binding Contract. We Recommend All Parties To The Contract Consult An Attorney Before Signing. NEW YORK STATE COMMERCIAL ASSOCIATION OF REALTORS, INC. STANDARD FORM CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE This is a Legally-Binding Contract. We Recommend All Parties To The Contract Consult

More information

The Guide to Single Family Home Mortgage Insurance

The 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 information

BUYING A HOME. A valuable information guide to help you through the home buying process.

BUYING A HOME. A valuable information guide to help you through the home buying process. BUYING A HOME A valuable information guide to help you through the home buying process. We have also included an overview of our services and handy resource list for your convenience in planning your move.

More information

EXCLUSIVE LISTING CONTRACT - SALE

EXCLUSIVE LISTING CONTRACT - SALE Anne Arundel County Association of REALTORS EXCLUSIVE LISTING CONTRACT - SALE DATE: PROPERTY ADDRESS: OWNER: / BROKERAGE: OWNER or authorized representative of OWNER hereby grants to BROKER an exclusive

More information

PARTICIPATION AGREEMENT AND ACKNOWLEDGMENT OF LOAN RESTRICTIONS

PARTICIPATION AGREEMENT AND ACKNOWLEDGMENT OF LOAN RESTRICTIONS COLUMBIA NON-PROFIT HOUSING FIRST HOME LOAN PROGRAM PARTICIPATION AGREEMENT AND ACKNOWLEDGMENT OF LOAN RESTRICTIONS I. PURPOSE AND GOALS The purpose of the First Home Loan Program is to establish and maintain

More information

Section 1.16a Resale/Deed Restrictions Guidelines

Section 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 information

AllSellers PropertyAddressCSZ. Re: Sale of PropertyAddress1 File # OrderNum. To Whom It May Concern;

AllSellers PropertyAddressCSZ. Re: Sale of PropertyAddress1 File # OrderNum. To Whom It May Concern; AllSellers PropertyAddressCSZ Re: Sale of PropertyAddress1 File # OrderNum To Whom It May Concern; Thank you for choosing Eastern Title & Settlement to handle the details in the sale of your property.

More information

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan Fund. The Small Business Loan Fund Program is designed to stimulate

More information

BECOME A BMR HOMEOWNER!

BECOME 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 information

Helpful Information for a First Time Mortgage

Helpful Information for a First Time Mortgage Helpful Information for a First Time Mortgage Getting Started Many people buying their first home are afraid lenders don't really want to work with them. But that's simply not true. Without you, there

More information

City of Champaign Neighborhood Services Department Neighborhood Programs Division 102 N. Neil St. Champaign, Illinois 61820 (217) 403-7070

City of Champaign Neighborhood Services Department Neighborhood Programs Division 102 N. Neil St. Champaign, Illinois 61820 (217) 403-7070 City of Champaign Neighborhood Services Department Neighborhood Programs Division 102 N. Neil St. Champaign, Illinois 61820 (217) 403-7070 Acquisition-Rehabilitation Program SCOPE INCOME LIMIT The program

More information

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000. November 10, 2014 Mortgagee Letter 2014-21 All Approved Mortgagees

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000. November 10, 2014 Mortgagee Letter 2014-21 All Approved Mortgagees U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER November 10, 2014 Mortgagee Letter 2014-21 To: All Approved Mortgagees

More information

You Can Buy a Home The keys to Homeownership

You Can Buy a Home The keys to Homeownership You Can Buy a Home The keys to Homeownership The keys to homeownership Buying a home is one of the most important purchases you ll ever make. Owning your own home helps you build wealth, save on taxes

More information

Clayton Homebuyer Assistance Program

Clayton Homebuyer Assistance Program Clayton Homebuyer Assistance Program OVERVIEW The purpose of this program is to strengthen partnerships and to expand the supply of decent, safe, sanitary and affordable housing in Clayton County. The

More information

FHA Home Loans 101 An Easy Reference Guide

FHA Home Loans 101 An Easy Reference Guide FHA Home Loans 101 An Easy Reference Guide Updated for loans on or after June 3, 2013 Congratulations on Starting Your Journey to Home Ownership This guide offers a quick look at vital information you

More information

Home Equity Conversion Mortgage (Reverse Mortgage) This Mortgage ("Security Instrument") is given on (date). The Mortgagor is (Name), of

Home Equity Conversion Mortgage (Reverse Mortgage) This Mortgage (Security Instrument) is given on (date). The Mortgagor is (Name), of Home Equity Conversion Mortgage (Reverse Mortgage) This Mortgage ("Security Instrument") is given on (date). The Mortgagor is (Name), of (street address, city, county, state, zip code), hereafter called

More information

REAL ESTATE PURCHASE CONTRACT Greater Hartford Association of REALTORS, Inc.

REAL ESTATE PURCHASE CONTRACT Greater Hartford Association of REALTORS, Inc. REAL ESTATE PURCHASE CONTRACT Greater Hartford Association of REALTORS, Inc. When signed by Buyer and Seller this is intended to be a legally binding contract. If either party has any questions about any

More information

HOME 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 Live the dream of owning your own home. sm Getting started For most of us, buying our first home is a dream come true. It s also a lengthy process where potential and sometimes very

More information

Section 1.10 - Leasehold Estate Guidelines

Section 1.10 - Leasehold Estate Guidelines Section 1.10 - In This Section This section contains the following topics: Overview... 2 General... 2 Related Bulletins... 3 Identifying a Leasehold Estate... 4 Occupancy/Property Types... 5 Eligible Occupancy/

More information

Frequently Asked Tax Questions for Homeowners, Buyers, Sellers

Frequently Asked Tax Questions for Homeowners, Buyers, Sellers Frequently Asked Tax Questions for Homeowners, Buyers, Sellers August 2011 1. Homestead Exemption What is the Homestead Exemption, and how do I apply for it? Louisiana law provides an exemption from parish

More information

STATE OF OKLAHOMA. 2nd Session of the 50th Legislature (2006) AS INTRODUCED

STATE OF OKLAHOMA. 2nd Session of the 50th Legislature (2006) AS INTRODUCED STATE OF OKLAHOMA 2nd Session of the 50th Legislature (2006) SENATE BILL 1385 By: Johnson (Mike) AS INTRODUCED An Act relating to insurance; creating the Oklahoma Homeowner s Private Mortgage Insurance

More information

CITY OF YOUNGSTOWN HOME BUYER PROGRAM. Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams. Revised 3/2008 (LH)

CITY OF YOUNGSTOWN HOME BUYER PROGRAM. Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams. Revised 3/2008 (LH) CITY OF YOUNGSTOWN HOME BUYER PROGRAM Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams Revised 3/2008 (LH) PROGRAM SUMMARY HOMEBUYER PROGRAM Purpose: To provide low and

More information

MAJOR WORKS GUIDE FOR LEASEHOLDERS

MAJOR WORKS GUIDE FOR LEASEHOLDERS MAJOR WORKS GUIDE FOR LEASEHOLDERS January 2016 Guide to payment methods, advice and help available for leaseholders who receive a major works invoice Major works guide Introduction This guide is aimed

More information

The condominium form of ownership in the United

The condominium form of ownership in the United A Lender s Primer: Major Repair Loans for Condominiums and Other Common Ownership Communities By Richard A. Rosner The condominium form of ownership in the United States is the product of enabling legislation

More information

First Timer s Guide PREParing First Time Homebuyers

First Timer s Guide PREParing First Time Homebuyers First Timer s Guide PREParing First Time Homebuyers SO MANY QUESTIONS Maybe you live in the best apartment with a great landlord and don t want to change a thing. Or maybe you ve looked at the rent going

More information

Buy a home, plus make improvements, with just one loan

Buy a home, plus make improvements, with just one loan Homebuyer guide to a mortgage with built-in renovation financing Buy a home, plus make improvements, with just one loan Learn how Are you thinking of buying a home that needs work? Well Fargo is here to

More information

Village 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) 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 information

HOUSING LOAN SUBORDINATION POLICY

HOUSING 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 information

PROGRAM GUIDELINES THE ONE MORTGAGE PROGRAM

PROGRAM GUIDELINES THE ONE MORTGAGE PROGRAM PROGRAM GUIDELINES THE ONE MORTGAGE PROGRAM The objective of this program is to provide down payment and closing cost assistance for those who are participating in the State approved One Program. The One

More information

Contact Information. Oklahoma City Housing Authority 1700 Northeast Fourth Street Oklahoma City, Oklahoma 73117-3800 405-239-7551

Contact Information. Oklahoma City Housing Authority 1700 Northeast Fourth Street Oklahoma City, Oklahoma 73117-3800 405-239-7551 Contact Information Oklahoma City Housing Authority 1700 Northeast Fourth Street Oklahoma City, Oklahoma 73117-3800 405-239-7551 Executive Director Director Leasing/Rental Assistance Family Self-Sufficiency

More information

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another. MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default

More information

You ve Applied For Your Mortgage. What Happens Next? A Simple Guide To Help You Through The Mortgage Process

You ve Applied For Your Mortgage. What Happens Next? A Simple Guide To Help You Through The Mortgage Process You ve Applied For Your Mortgage. What Happens Next? A Simple Guide To Help You Through The Mortgage Process Four Easy Steps You have found the right home at the right price in the right location. Now

More information

First Time Home Buyer Glossary

First 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 information

HOME BUYING101. 701.255.0042 www.capcu.org i

HOME BUYING101. 701.255.0042 www.capcu.org i HOME BUYING101 701.255.0042 www.capcu.org i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended,

More information

AFFORDABLE HOUSING PROGRAM GUIDELINES

AFFORDABLE HOUSING PROGRAM GUIDELINES AFFORDABLE HOUSING PROGRAM GUIDELINES Income and Monthly Housing Costs, Asset Limits, and Other Implementation Practices I. INCOME, ASSET, AND HOUSING COSTS A. APPLICABILITY 1. These guidelines establish

More information

27 Ways To Buy Multi-Family Properties With NO MONEY DOWN

27 Ways To Buy Multi-Family Properties With NO MONEY DOWN 27 Ways To Buy Multi-Family Properties With NO MONEY DOWN By David Lindahl RE Mentor, Inc 100 Weymouth Street, Building D Rockland, MA 02370 REMENTOR.COM 2 Legal Notice This information is designed to

More information

RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS

RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS Title of Agreement now includes the word residential 1. Property Description 1.(c) Additional items specified in Paragraph 1 include

More information

Homebuyer Education: What You Need to Know

Homebuyer Education: What You Need to Know Homebuyer Education: What You Need to Know Today s Objectives Prepare your finances for home ownership Steps to mortgage prequalification Shopping for a home- who are the major players? Choosing the correct

More information

Summary of the CCLT Restrictive Covenant

Summary of the CCLT Restrictive Covenant Summary of the CCLT Restrictive Covenant The Chicago Community Land Trust exists to expand access to homeownership opportunities for low-and moderate-income households, and to preserve the affordability

More information

Getting Prepared to Purchase Your Home

Getting Prepared to Purchase Your Home Thank you for taking the time to download our Homebuyer s Kit. TJC Mortgage knows that you have options when choosing a mortgage company to assist with your home purchase and we want you to know that we

More information

PURCHASE AND SALES AGREEMENT AND DEPOSIT RECEIPT New Hampshire Association of REALTORS Standard Form

PURCHASE AND SALES AGREEMENT AND DEPOSIT RECEIPT New Hampshire Association of REALTORS Standard Form 1. THIS AGREEMENT made this day of, 20 between Sam Seller ( SELLER ) of, City County of, State Zip and Bob Buyer ( BUYER ) of, City County of, State Zip. 2. WITNESSETH: That SELLER agrees to sell and convey,

More information

Mortgage Basics 101. Talk to your CIBC Mobile Mortgage Advisor today.

Mortgage Basics 101. Talk to your CIBC Mobile Mortgage Advisor today. Mortgage Basics 101 Mortgages are big investments that require financial stability and dedication. Start the process on the right foot by familiarizing yourself with different types of mortgages and rates,

More information

Article 1 - Definitions

Article 1 - Definitions FHA Case No. HOME EQUITY CONVERSION MORTGAGE ADJUSTABLE RATE LOAN AGREEMENT THIS AGREEMENT is made this day of ( Borrower ) and ( Lender )., 20, among Article 1 - Definitions 1.1. Borrower is defined above.

More information

A. Confirm Buyer has been pre-qualified by a lender (If not, Buyer Agent will introduce lender) 2. How much was the buyer pre-qualified for?

A. Confirm Buyer has been pre-qualified by a lender (If not, Buyer Agent will introduce lender) 2. How much was the buyer pre-qualified for? Home Buying Process I. Interview A. Confirm Buyer has been pre-qualified by a lender (If not, Buyer Agent will introduce lender) 1. When was the buyer pre-qualified? 2. How much was the buyer pre-qualified

More information

City of Eden Prairie First Time Homebuyer Program

City of Eden Prairie First Time Homebuyer Program Part I: GENERAL PROGRAM DESCRIPTION Program Overview City of Eden Prairie First Time Homebuyer Program The Eden Prairie Office of Housing & Community Services (OHCS) offers a financial assistance program

More information

THIS DOCUMENT IS IN SAMPLE FORM. IT SHOULD BE USED FOR INFORMATIONAL

THIS DOCUMENT IS IN SAMPLE FORM. IT SHOULD BE USED FOR INFORMATIONAL THIS DOCUMENT IS IN SAMPLE FORM. IT SHOULD BE USED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE USED AS A SUBSTITUTE FOR THE ADVICE OF AN ATTORNEY. THIS DOCUMENT MAY NOT REFLECT THE MOST CURRENT LEGAL

More information

MANUFACTURED HOUSING DOWN PAYMENT LOAN PROGRAM

MANUFACTURED HOUSING DOWN PAYMENT LOAN PROGRAM For Home Buyer Education information, please contact your local Neighborworks HomeOwnership Center: NORTHWEST VERMONT Champlain Housing Trust 88 King Street Burlington, VT 05401 802-862-6244 www.getahome.org

More information

MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY COMMUNITY DEVELOPMENT DIVISION

MICHIGAN 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 information

As Is RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS

As Is RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS As Is RESIDENTIAL CONTRACT FOR SALE and PURCHASE 6/10 SUMMARY OF NEW PROVISIONS Title of Agreement now includes the word residential 1. Property Description 1.(c) Additional items specified in Paragraph

More information

NACA Overview NACA Mortgage Housing Search Mortgage Process

NACA Overview NACA Mortgage Housing Search Mortgage Process NACA Overview NACA Mortgage Housing Search Mortgage Process www.naca.com service@naca.com Member Services 425-602-6222 Predatory Lenders Beware! NACA 25 Years of Victories & Results NACA has set the national

More information

City of Somerville Closing Cost and Down Payment Assistance Programs

City of Somerville Closing Cost and Down Payment Assistance Programs City of Somerville Closing Cost and Down Payment Assistance Programs WHAT DO THESE PROGRAMS OFFER? The City of Somerville can provide assistance in purchasing a home through two different programs. You

More information

Massachusetts General Laws, Ch. 188, 1-10

Massachusetts General Laws, Ch. 188, 1-10 Massachusetts General Laws, Ch. 188, 1-10 This webpage has been designed to answer some of the basic questions asked every day pertaining to the Homestead Act. It is not designed to provide any legal advice

More information

An Easy Guide to Buying a Home

An Easy Guide to Buying a Home An Easy Guide to Buying a Home Dear Future Homeowner, You have just taken the first step on the road to realizing the American dream. Choosing your home loan is one of the most important decisions you

More information

Get the facts. What every homeowner who is at least 62 years of age should know about reverse mortgage loans

Get the facts. What every homeowner who is at least 62 years of age should know about reverse mortgage loans Get the facts What every homeowner who is at least 62 years of age should know about reverse mortgage loans Dino Guadagnino Reverse Area Sales Manager PHL Federal Reserve Meeting December 1, 2010 1 What

More information

Section 1715z-20. Insurance of home equity conversion mortgages for elderly homeowners 1

Section 1715z-20. Insurance of home equity conversion mortgages for elderly homeowners 1 Section 1715z-20. Insurance of home equity conversion mortgages for elderly homeowners 1 (a) Purpose The purpose of this section is to authorize the Secretary to carry out a program of mortgage insurance

More information

Keller Williams Realty is ranked Highest Overall Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row!

Keller Williams Realty is ranked Highest Overall Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row! Keller Williams Realty is ranked Highest Overall Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row! Keller Williams Realty received the highest numerical score

More information

2011 Kentucky Condominium Act and 2012 Revision Bill Louisville, Lexington, Covington June 13 June 26 July 11

2011 Kentucky Condominium Act and 2012 Revision Bill Louisville, Lexington, Covington June 13 June 26 July 11 2011 Kentucky Condominium Act and 2012 Revision Bill Louisville, Lexington, Covington June 13 June 26 July 11 An Educational Seminar presented by: Kentucky Chapter of the Community Associations Institute

More information

SHORT SALE LISTING PROCESS:

SHORT SALE LISTING PROCESS: SHORT SALE LISTING PROCESS: 1. We will be required to prepare a Net to Seller worksheet to show the lender that your property qualifies for short sale. In conjunction with this, we will need to determine

More information

CHAPTER 6: LOAN PURPOSES 7 CFR 3555.101

CHAPTER 6: LOAN PURPOSES 7 CFR 3555.101 CHAPTER 6: LOAN PURPOSES 7 CFR 3555.101 6.1 INTRODUCTION SFHGLP loan funds can be used to acquire new or existing housing that will be the applicant s principal residence, and to pay costs associated with

More information

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS

TEXAS 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 information

CITY OF HUNTSVILLE, ALABAMA. DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines

CITY OF HUNTSVILLE, ALABAMA. DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines CITY OF HUNTSVILLE, ALABAMA DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines Contact information: Community Development, 120 E. Holmes Ave, Huntsville, Ala. 35801, 256-427-5400, fax.

More information

Appendix A to Part Instructions for Completing HUD-1 and HUD-1a Settlement Statements; Sample HUD-1 and HUD-1a Statements

Appendix A to Part Instructions for Completing HUD-1 and HUD-1a Settlement Statements; Sample HUD-1 and HUD-1a Statements Appendix A to Part 3500--Instructions for Completing HUD-1 and HUD-1a Settlement Statements; Sample HUD-1 and HUD-1a Statements The following are instructions for completing the HUD-1 settlement statement,

More information

HOME 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 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

Assumable Mortgage: A loan that can be taken over, or assumed, by a buyer when the mobile home is sold.

Assumable Mortgage: A loan that can be taken over, or assumed, by a buyer when the mobile home is sold. Actual Rate: The Actual Rate is the annual interest rate you pay on your loan (sometimes referred to as the note rate ), and is the rate used to calculate your monthly payments. Adjustable Rate Mortgage:

More information

HOME 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 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 information