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Wilmington Housing Authority
 

Wilmington Housing Authority

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    Wilmington Housing Authority Wilmington Housing Authority Presentation Transcript

    • WILMINGTON HOUSING AUTHORITY HOMEOWNERSHIP PROGRAMS
    • HOMEOWNERSHIP INITIATIVES
      • ROBERT S. JERVAY PLACE DEVELOPMENT
      • INDIVIDUAL DEVELOPMENT ACCOUNT (IDA) PROGRAM
      • SECTION 8 HOMEOWNERSHIP PROGRAM
      • FAMILY SELF-SUFFICIENCY PROGRAM
    • ROBERT S. JERVAY PLACE
      • PHASE III
      • 7 LOTS AVAILABLE
      • HOME PRICES: $115,500 - $142,500
      • (TWO & THREE BEDROOMS; 1190 – 1403 sq. ft.)
      • DOWNPAYMENT ASSISTANCE AVAILABLE TO QUALIFIED BUYERS
      • ONE PERCENT DOWNPAYMENT IS REQUIRED
      • HOMEBUYER’S EDUCATION IS REQUIRED
      • CONVENIENT ACCESS TO DOWNTOWN, SCHOOLS, DINING, BEACHES, MEDICAL CENTER, PARKS AND UNIVERSITY
      • NUMEROUS FEATURES: APPLIANCES, IRRIGATION SYSTEM, LANDSCAPING PACKAGE, COMMUNITY CENTER, PARK, AND MORE
    • ROBERT S. JERVAY HOMES
    • RESOURCES AVAILABE FOR HOMEOWNERSHIP
      • DOWNPAYMENT ASSISTANCE
      • Individual Development Account (IDA)
      • 2:1 Match
      • (1) North Carolina Housing Finance
      • Agency ($1,000)
      • (2) North Carolina Dept. of Labor ($1,000)
    • NORTH CAROLINA HOUSING FINANCE AGENCY
      • UP TO $25,000 PER UNIT
      • SECOND MORTGAGE -- 0% INTEREST DEFERRED PAYMENT LOAN
      • PRINCIPAL REPAYMENT IS DUE UPON REFINANCE OR RESALE OF
      • PROPERTY OR AT THE END OF THE LOAN TERM (30 YEARS)
      • WHICHEVER OCCURS FIRST.
      • HOMEBUYERS WITH INCOME BELOW 80% OF AREA MEDIAN INCOME
      • ($57,600-Wilmington)
      • RATIOS: 29%/41% (FRONT END CANNOT BE LOWER THAN 20%).
      • HOMEBUYER’S EDUCATION WORKSHOP MUST BE COMPLETED.
    • INDIVIDUAL DEVELOPMENT ACCOUNT (IDA)
      • IDA’S OFFER PARTICIPANTS
      • Budget Workshops
      • Interest Bearing Savings
      • Credit Counseling
      • Homebuyer’s Education
      • Homeownership Opportunities
      • Self-Sufficiency Initiatives
      • Down Payment Assistance
      • Financial Management
      • PARTNERS: NC DEPT OF LABOR , NC HOUSING FINANCE AGENCY,
      • THE BANKS FOUNDATION. CAPE FEAR HABITAT FOR HUMANITY
    • Individual Development Account
      • BENEFITS
      • Help Families Build Assets
      • Build Strong Communities
      • Introduces A New Way Of Life
      • Enables You To Think And Plan For The Future
      • Offers A Financial Buffer
      • 2.1 Match – NC Dept. of Labor & NC Housing Finance Agency
    • INDIVIDUAL DEVELOPMENT ACCOUNT (IDA)
      • GUIDELINES
      • First Time Homebuyer (No Ownership Interest In The Previous Three Years)
      • Household Income =/< 80% Of The Area Median Income
      • Must Save $1,000 Of Own Funds
      • Homebuyer’s Education and Financial Literacy Workshops Required
      • Be Gainfully Employed
      • Satisfactory Credit Report to Qualify for a Mortgage (Credit Counseling Available)
    • SECTION 8 HOMEOWNERSHIP PROGRAM
      • Employed Fulltime (One year minimum)
      • First Time Homebuyer
      • Must Attend Homebuyer’s Education Workshop
      • Credit Counseling (If Needed)
      • Minimum Household Income - $15,000
      • One Percent Down Payment Required
      • Rental Voucher Converted To Homeownership Voucher
    • Family Self-Sufficiency Program
      • Enables Public Housing & Section 8 Families To Gain Economic Independence And Self -Sufficiency
      • Assistance With: Homeownership Goals; Job Placement/Training; Career Advancement; Mentoring; & Credit Counseling
      • 5-Year Contract Executed (Goal Setting)
      • Case Management
      • Escrow Savings Account
    • ALICE JONES HOMEOWNERSHIP COORDINATOR WILMINGTON HOUSING AUTHORITY 1524 SOUTH 16 TH STREET WILMINGTON, NC 28401 (910) 341-7700, EXT. 264 Email: [email_address] www.wha.net