home purchase rehab fact sheet

Upload: congressheightsontherise

Post on 07-Apr-2018

219 views

Category:

Documents


0 download

TRANSCRIPT

  • 8/4/2019 Home Purchase Rehab Fact Sheet

    1/2

    D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T

    HomePurchaseRehabilitationPilotProgramTheHomePurchaseRehabilitationPilotProgramwillprovideapplicantsundertheDepartmentofHousing

    and

    Community

    Developments

    suite

    of

    Home

    Purchase

    Assistance

    Programs

    an

    additional

    option

    for

    becomingfirsttimehomebuyers.

    ThepurposeoftheHomePurchaseRehabilitationPilotProgramistoallowfirsttimehomebuyersinthe

    Districttopurchasehomesthatrequirelimitedrepairstoaddresshealth,safetyandbuildingcode

    violations. ThisprogramenablestheuseoftheFederalHousingAdministrations(FHA)203(k)Streamlined

    RehabilitationProgramasafirsttrustlendingproduct,inconjunctionwithanHPAPorotherDHCD

    purchaseassistancesecondtrustloans. Applicantswillreceiveacombinedpurchasemoneyloanfor

    acquisitionandrepairs(limitedtothe203(k)guidelines)fromthefirsttrustlender. TheHPAPorother

    DHCDprogramloanswillcontinuetobeasecondtrustloanfordownpaymentandclosingcostassistance.

    TheapplicantmustmeetallDHCDeligibilityrequirements.

    TheminimumrehabilitationloanfortheFHA203(k)streamlineis$5,000andthemaximumis$35,000.

    Thelimitedrepairsmustbecompletedwithinsix(6)monthsoftheloanclosingdatewhenaHomeQuality

    Inspection(HQI)isdue.

    TheapplicantmustapplyforHPAPwithaCommunityBasedOrganization(CBO)andattendgeneralHPAP

    training. Theapplicantmustalsoattendaseparatemandatory203(k)streamlineclass. HPAPapplicants

    whohavereceivedaNoticeofEligibilityfromtheGreaterWashingtonUrbanLeagueareeligibleforthe

    pilotprogram.

    Eligiblerehabilitationrepairswith203(k)loansinclude:

    Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200

    Repair/replacementofroofs,gutters,and

    downspouts

    Repair/replacement/upgradeofexistingHVAC

    systems

    Repair/replacement/upgradeofplumbingand

    electricalsystems

    Repair/replacementofflooring

    Minorremodelingofkitchenthatdoesnot

    involvestructuralrepair

    Painting,

    both

    interior

    and

    exterior

    Weatherization,includingstormwindowsand

    doors,insulation,weatherstripping,etc.

    Accessibilityimprovementsforpersonswith

    disabilities

    Purchaseandinstallationofappliances,including

    freestandingranges,refrigerators,washers/

    dryers,dishwashersandmicrowaveovens

    Basementfinishingandremodelingthatdoesnot

    involvestructuralrepairs

    Leadbasedstabilizationorabatementoflead

    basedhazards

    Repair/replaceexistingexteriordecks,patios,or

    porches

    Window

    and

    door

    replacements

    and

    exterior

    wallresiding

    Septicsystemrepairorreplacement

    (Continuedonreversesid

  • 8/4/2019 Home Purchase Rehab Fact Sheet

    2/2

    D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T

    TheapplicantmustselecttheirFHA203(k)lender,generalcontractors,andaFHA203(k)consultantto

    conductscopesofworkwriteupsandperiodicinspectionsoftherehabilitationworkpriortofundingdraws.

    DHCDgenerallyprocessesapplicationsonafirstcomefirstservedbasis.Pleasecontactoneofthe

    communitybasedhousingcounselingmanagersat(202)4427200.

    IfyouareinterestedinapplyingfortheHomePurchaseRehabilitationPilotProgramforfirsttime

    homebuyersusingHPAPandorotherDHCDprogramloans,pleasecontactoneofthefollowingCommunity

    BasedOrganizations.

    HousingCounselingServices241017thStreet,NW

    Washington,DC20009

    (202)6677006| www.housingetc.orgLatinoEconomicDevelopmentCorp.(LEDC)231618thStreet,NW

    Washington,DC20009

    (202)5885102 |www.ledcdc.orgLydiasHouse3939SouthCapitolStreet,SW

    Washington,DC20032

    (202)3731050 |www.lydiashousendc.org

    Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200

    ***UniversityLegalServices220IStreet,NE,Suite130

    Washington,DC20002

    (202)5474747|www.ulsdc.org

    ***UniversityLegalServicesatDHCDHousingResourceCenter1800MartinLutherKing,Jr.Ave.,SE

    Washington,DC20020

    (202)8892196|www.ulsdc.org

    ***UniversityLegalServices,FarNELloydE.SmithCenter

    3939BenningRoad,NE

    Washington,DC20019

    (202)3961201|www.ulsdc.org

    09.29.10

    ***TheHomePurchaseRehabilitationPilotProgramtrainingwillbeofferedattheselocations.

    Note: DHCDadherestoallfederalandlocallawsandregulationswhichofferconsumerprotectionsfromprohibitedpredatory

    lendingpractices. DHCDdoesnotrequirepotentialapplicantstoacceptprivatefinancingthatispricedabovethemarketrateor

    thatisnotfromareputablelender. Potentialapplicantsshouldneveracceptanofferofprivatefinancingwithoutdiscussingthe

    offerwithoneofhousingcounselingagencieslistedbelow.

    Nondiscriminationclause: InaccordancewiththeD.C.HumanRightsActof1977,asamended,D.C.OfficialCode,Section2

    1401.01etseq.,(Act)theDistrictofColumbiadoesnotdiscriminateonthebasisofactualorperceived:race,color,religion,

    nationalorigin,sex,age,maritalstatus,personalappearance,sexualorientation,familialstatus,familyresponsibilities,

    matriculation,politicalaffiliation,disability,sourceofincome,orplaceofresidenceorbusiness.