VCCDC update for Sept. 29

For Aimee Shapiro her new home is more than just a place it’s the feeling of freedom, independence and peace. Homeownership wasn’t something that Aimee, a single mother of two boys, thought she would ever achieve. After her divorce she moved in with her parents to make ends meet and did not have homeownership on her mind. One day when walking around her neighborhood she noticed an open house sign and decided to check it out. There she met VCCDC Realtor, Tanya Reyes, who told her about VCCDC’s programs and services. After hearing about the opportunity to purchase this home, Aimee felt like it was worth a shot, “it seemed like the right time to do this for me and my sons. The pieces were falling into place and the time was right.”

• High quality curriculum delivered by Certified Homeownership Specialists in a no-pressure, questions-welcomed setting
• Course is approved by the U.S. Department of Housing & Urban Development (HUD)
• Up to date information on credit, budgeting, down payment assistance programs, 1st-time homebuyer loan programs, escrow & title, and more!
• Information from industry experts in the fields of insurance, mortgage lending, and real estate
• Homebuyer Education Certificate – required for most down payment assistance programs and some loan programs (given upon request)
• Plus free lunch! (who doesn’t love free food?!)

1. Go to www.ehomeamerica.org/vccdc
2. Create your profile and submit payment
3. Complete course at your own pace – you can access the course 24 hours a day, 7 days a week, wherever internet is available
4. VCCDC gets notification of your course completion & emails your certificate the day you complete your course – if course is completed outside of our business hours, certificate will be emailed the following business day

• Up to $15,000 in assistance
• Can be applied to down payment and/or closing costs
• CalHome loans are deferred (i.e. requires no payments) for 30 years with an interest rate of 3%
• Borrower must repay the loan (plus the accrued interest) upon resale of the home, refinancing or loan maturity.
• Minimum 1% of borrowers own funds required
• For low income homebuyers – up to 80% Area Median Income
• Can be combined with other down payment assistance programs
• Other criteria and requirements apply

• Up to $15,000 in assistance
• Can be applied to down payment and/or closing costs
• Matching up to $3 for every dollar contributed by the homebuyer, toward the purchase of their first home
• For low income homebuyers – up to 80% Area Median Income
• Can be combined with other down payment assistance programs
• Other criteria and requirements apply

• Purchase with as little as 3% down
• For purchase and refinance transactions – up to 97% financing
• No private mortgage insurance
• Lower fees versus traditional loan programs
• Alternative non-traditional credit considered
• Not limited to first-time home buyers
• For low-to moderate-income buyers – up to 120% Area Median Income
• Use of down payment assistance programs is allowed
• Other criteria and requirements apply