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1 Atlanta Neighborhood Development Partnership, Inc. 1 One Home Makes a Difference for a Veteran!

2 one home makes a difference Affordable Housing for our Active Military and Veterans PROGRAM OVERVIEW Atlanta Neighborhood Development Partnership (ANDP) is a 21 year-old nonprofit with a mission of providing and promoting affordable housing throughout Metro Atlanta. In the wake of the foreclosure crisis, which began in 2007, ANDP has refocused its mission to serve families and neighborhoods impacted by the foreclosure crisis. ANDP is working to rebuild neighborhoods by repopulating vacant homes. In fact, our organization has become one of the largest nonprofit redevelopers of foreclosed properties through the Neighborhood Stabilization Program (NSP) and its jurisdictional partners. Unfortunately, the crisis continues and a large number of vacant homes are negtively impacting our neighborhoods. In an effort to continue to redevelop these neighborhoods, ANDP has announced its One Home Makes a Difference program to acquire, rehab and repoplate 250 homes in 25 neighborhoods over the next three years. As a part of this program, ANDP has designed a special initiative to meet the housing needs of Veterans in our region - One Home Makes a Difference for a Veteran (OHV). With this initiative, ANDP will lease and sell affordably priced single-family homes and offer down payment or other assistance to qualified tenants and buyers. OUR PARTNERS ANDP s OHV program would not be possible without the support and participation of its partners. For a complete list of those supporting the One Home Makes a Difference program, visit us online at Atlanta Neighborhood Development Partnership, Inc. 2 One Home Makes a Difference for a Veteran!

3 PROGRAM QUALIFICATIONS FOR HOMEOWNERSHIP In order to qualify for the ANDP One Home Makes a Difference for a Veteran program, buyers must meet the following qualifications. -Honorably Discharged from the Armed Forces, Active Military, or Gold Star Family -Must be able to qualify for a mortgage by an approved lender -Must not own another home, must make purchased home primary residence -Buyer NOT required to be a first-time home buyer -Complete a HUD-approved home buyer education course (see page 5) -Meet income qualifications based on HUD Income Limits* See the table below for the maximum income allowed, based on the number of individuals in the household. Note that income limits include all household income combined. # in Household 60% of AMI 80% of AMI 120% of AMI 1 $27,900 $36,050 $54,100 2 $31,860 $41,200 $61,800 3 $35,820 $46,350 $69,550 4 $39,780 $51,500 $69,550 Percent of Home Price that will be Provided as Down Payment Assistance 35% 25% 10% Example: If buyer purchases a home priced at $100,000 $35,000 in down payment assistance $25,000 in down payment assistance $10,000 in down payment assistance *HUD Income Limits change on an annual basis. Limits above are effective December 11, 2012 DOWN PAYMENT ASSISTANCE The down payment percentages referenced above are provided as a zero percent soft-second mortgage. This soft-second mortgage adds no cost to the monthly mortgage payment and is forgiven over a five-year period as long as the buyer remains in the home. The amount forgiven is pro-rated for each of the five years, with 20% forgiven each year. The down payment assistance will be used to cover closing costs, pre-paid expenses, and reduce the cost of the home if applicable. NOTE: Buyers are required to provide a direct contribution of at least $1,000 towards the purchase of the home. This includes a minimum of $500 in earnest money and may also include the cost of the required appraisal and home inspection. Atlanta Neighborhood Development Partnership, Inc. 3 One Home Makes a Difference for a Veteran!

4 LAYERING WITH OTHER PROGRAMS In some instances, it is possible to combine programs to layer support for qualified buyers. For example, if a qualified buyer is also eligible for other down payment assistance programs including NeighborhoodLIFT, Georgia Dream, local government programs or Federal Home Loan Bank programs, every effort will be made to layer sources from multiple programs. TIP: To see what additional down payment programs may be available, search the home address at the following website: PROGRAM BENEFITS Benefits of the ANDP OHV program include: Newly renovated homes; Down payment assistance in the form of a zero percent soft second mortgage, Flexible lease purchase options, and Access to home buyer and financial education workshops. THE HOMES Homes available for lease or purchase in this program will be fully rehabbed and made move-in ready before any transaction. Rehab work performed is to ensure full compliance with HUD regulations as well as local jurisdiction code compliance. Our goal is to provide tenants and buyers with safe, comfortable, affordable and attractive homes for their families. Initially, all homes offered will be single-family (stand alone) homes. Future expansion of the program may include townhomes and condominiums. To see homes available in this program, visit NOTE: Homebuyers must obtain a professional home inspection from a certified home inspector. As previously stated, the cost for this inspection may be applied toward the $1,000 buyer direct contribution. GREEN & AFFORDABLE To ensure the long-term sustainability of the home and long-term affordability for families, every effort is made to retrofit homes with energy efficiency in mind. In addition to efficient appliances and fixtures, considerable attention is given to the envelope of the home. -Attic space is sealed and blown insulation is installed. -If a crawl space exists, a vapor barrier is installed. -If appliances are purchased for rehab, Energy Star appliances are selected. -If toilets and faucets are replaced, Water Sense items are selected. -If furnace, AC or HVAC units are replaced, energy saving units are selected. -Doors and windows are weather-stripped. -No-VOC paints and stains and low-voc carpeting are used. Atlanta Neighborhood Development Partnership, Inc. 4 One Home Makes a Difference for a Veteran!

5 With these and many other measures, ANDP makes every effort to ensure its homes are energy efficient and affordable to its buyers. RENTAL AND LEASE PURCHASE OPTIONS Buyers not ready for homeownership have the option of leasing select properties from ANDP. Those actively working toward homeownership may choose to enroll in our lease purchase program. Under our lease purchase arrangement, a small portion of the tenant s monthly lease fee (approximately $40-60 per month) is retained to be applied later to the down payment. In the ANDP lease purchase program, the tenant also agrees to participate in regular home buyer/financial counseling to prepare for the purchase. NOTE: Some homes in the ANDP inventory are targeted for homeownership and thus may not be immediately available for lease. VASH VOUCHERS Veterans Affairs Supportive Housing vouchers (VASH) that provide recipients with combined rental assistance and case management and clinical services are accepted in ANDP s OHV rental program. NEXT STEPS LENDER - Buyers must use an ANDP approved lender for their mortgage. To see a current list of One Home lenders, visit REALTOR - Identify a qualified real estate professional who is knowledgeable about affordable housing programs and VA loans. REQUIRED COURSE - Schedule and complete the required HUD-approved home buyer education course. To see a list of HUD-approved training agencies, visit HOME LISTINGS - Visit www. ANDPHomes.org/veterans to see homes currently available in this program. CONTACT BUYERS: For additional information, contact us at REALTORS: For more details about the program or listings, contact our agents: Jason Harris, Re/Max Greater Atlanta, , Bill Thomas, Tri County Realty Solutions, , LENDERS interested in becoming an approved lender, please contact Susan Adams at or Atlanta Neighborhood Development Partnership, Inc. 5 One Home Makes a Difference for a Veteran!

6 about andp The mission of Atlanta Neighborhood Development Partnership, Inc. (ANDP) is to promote, create and preserve affordable housing through direct development, lending, policy research and advocacy that result in the equitable distribution of affordable housing throughout the metropolitan Atlanta region. Since 2007, ANDP has been focused solely on responding to the foreclosure crisis. 229 Peachtree Street NE, Ste 705 Atlanta, GA Atlanta Neighborhood Development Partnership, Inc. 6 One Home Makes a Difference for a Veteran!

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