ࡱ> wyvq` h*bjbjqPqP .T::h"LHLHLHLHDH\O`HIIIIIII_______$bhod_ZIIZZ_II `&[&[&[Z"II_&[Z_&[&[]`R^IH @9wLHZ:^_`0O`&^,d [dR^R^df^hIN&[0R UIII__[ IIIO`ZZZZ!&!& REALTOR Resource Affordable Homeownership Guide Wilmington Regional Association of REALTORS North Carolina Housing and Finance Agency-NCHFA Contact: Go to the NCHFA for a list of Wilmington lenders who use this agency. 3508 Bush St. Raleigh, NC 27609 Ph: (919) 877-5700 Website:  HYPERLINK "http://www.nchfa.com/" www.nchfa.com MAIN FUNCTION: State housing finance agency that creates affordable housing opportunities for North Carolinians whose needs are not met by the market. Use them when your client: Is a first-time home buyer Needs down payment assistance Criteria: Incomes and home sales prices within established limits (go to www.nchfa.com for limits) 1 person-$53,000; 2 person $53,500 Single family households Be a reasonable credit risk Eligible properties: Single family detached, condominiums, townhouses, modular homes (new or exiting) and new double-wide manufactured housing. Wilmington Housing and Finance & Development (WHFD) Contact: Betty Bisbee P.O. Box 547 3508 Frog Pond Place Wilmington, NC 28402 Ph: (910) 763-7709; Fax: (910) 763-7705 MAIN FUNCTION: WHFD specializes in counseling potential buyers on the home buying process. The counselor is well-educated on mortgage programs and down payment assistance to help direct borrowers to the best option. Also, works as a developer/consultant for other nonprofit agencies to provide grant writing and help homeless individuals with disabilities. Use them if your client needs: Counselingcredit, reverse mortgage or default mortgage Homeowner education Down payment assistance Criteria: Your client makes less than 80% of median income limits Self Help Credit Union Contact: Nancy Rosa, Administrative Assistant 272 North Front St., Suite 215 Wilmington, NC 28401 Ph: (910) 442-1020; Fax: (910) 341-3270 Website:  HYPERLINK "http://www.self-help.org/" www.self-help.org MAIN FUNCTION: Community Development Lender Use them when your client needs: Has been turned down by other lenders due to past credit issues or other financial weaknesses Has ITIN (Tax ID) immigration status Needs down payment assistance. Loans available for double-wide mobile homes Criteria: Low to moderate income; stable employment; borderline credit scores Wilmington Housing Authority Contact: Alice Jones 1524 South 16th St. Wilmington, NC 28401 Ph: (910) 341-7700 Fax: (910) 341-7760 Website:  HYPERLINK "http://www.wha.net/" www.wha.net MAIN FUNCTION: Provide affordable housing opportunities for individuals & families in the Wilmington area and coordination of home buying services from application to closing. Use them when your client: Needs down payment assistance (must complete a home buyers education workshop) Has been employed full-time and had stable employment for at least 12 months Needs credit counseling to qualify for a mortgage in the future Criteria Family income is no more than 115% of area median income ($62,330) Has 1% of the purchase price toward down payment of home Cape Fear Regional CDC Housing Program Contact: Maria Age P.O. Box 2765 Wilmington, NC 28402 Ph: (910) 762-7555; Fax: (910) 762-7565 Email:  HYPERLINK "mailto:homehelp@cfrcdc.org" homehelp@cfrcdc.org Website:  HYPERLINK "http://www.cfrcdc.org/" cfrcdc.org MAIN FUNCTION: Affordable housing program providing small business counseling and homeownership and credit counseling to first- time home buyers of low to moderate income. Use them when your client needs: Credit and homeownership counseling Criteria: First-time home buyers with low to moderate income Wilmington AME Zion Housing Development Corp. Warner Temple AME Zion Church Contact: Linda Smith, Executive Director; Toronya Ezell, Housing Counselor PO Box 15363 Wilmington NC, 28402 Ph: (910) 815-3826; Fax: (910) 763-5141 Email:  HYPERLINK "mailto:amezionhousing@bellsouth.net" amezionhousing@bellsouth.net MAIN FUNCTION: To develop affordable housing for buyers with low to moderate incomes in the City of Wilmington and surrounding counties. Use them when your client needs: Homeownership counseling Down payment assistance. Will provide up to $15,000 based on need of Individual Criteria: First-time home buyers with incomes less than 80% of the area median income based on family size. USDA/Rural Development Contact: Raymond Shepherd Brunswick County Government Center P.O. Box 88 Bolivia, NC 28422 Ph: (910) 253-4448 Website:  HYPERLINK "http://www.rurdev.usda.gov/rhs/" www.rurdev.usda.gov/rhs/ MAIN FUNCTION: Offers both direct (subsidized) loans and guaranteed loans for purchase of new or existing homes Use them when your client needs: Maximum or subsidized financing in rural areas Housing that will be modest in design and size Criteria: Buyers must meet lenders repayment guidelines; term is 30 years; promissory note rate determined by lender Most commercial banks/mortgage lenders participate in the USDA Guaranteed Rural Housing Loan Program Applicants may have up to 115% of areas medium income County Wide Community Development Corporation (CWCDC) Contact: Resea Willis, Director of Programs 1183 Old Mill Rd Navassa, NC 28451 Ph: (910) 253-4663; (910) 383-1724 Email:  HYPERLINK "mailto:cwcdc@aol.com" cwcdc@aol.com MAIN FUNCTION: To educate and prepare potential home buyers so they can evaluate and purchase their First Home, and to develop affordable housing throughout the Cape Fear Region. Use them when your client: Needs down payment assistance-required to meet education and savings requirements (Available from $500-5,000 based on need and eligibility) Needs Financial Literacy Education and potential home buyer training and counseling Criteria Service free to anyone with incomes below 80% of median income. Fee applies to those above 80%, but all are welcome. Small fee for credit checks and materials apply to all--sponsorship from REALTORS or lenders encouraged Down payment assistance-no standard criteria. Programs vary to fit circumstances (single parent, natural disaster, etc.) City of Wilmingtons Home Ownership Pool (HOP) Contact: Lisa Burton, Housing Financial Counselor P. O. Box 1810 305 Chestnut Street Wilmington, NC 28401 Ph: (910) 341-7836; Fax: (910) 343-4764 Website:  HYPERLINK "http://www.wilmingtonnc.gov/" www.wilmingtonnc.gov MAIN FUNCTION: To increase homeownership opportunities for low and moderate income households; creating affordable mortgage payments by providing 40% of mortgage loan at NO interest (up to $50,000) Use them when your client: Needs 100% financing (with down payment as low as $500) Counseling on the homebuyers process (homebuyers education course required; offered free - 3rd Friday each month) Has the ability to pay loan settlement costs Criteria: Buyers with incomes less than 80% of the area median Income based on household size Property must be within City limits and not currently occupied by a tenant Maximum mortgage amount $170,000 existing, $185,000 new construction REALTOR Resource Affordable Homeownership Guide Helpful Questions to Pre-Qualify Buyers 1. What is your annual income? 2. How much money do you have for down payment? Is your money in a checking account? Do you have other assets? Do you need 100% financing? 3. Have you owned a home in the last three years? 4. What is a comfortable monthly housing payment? 5. Do you have credit? If not, do you have rental history, cell phone, utilities and insurance payment history for the past 12 months? Mortgage Programs Available: Flexible 97- Program requires 3% down with flexible underwriting and guidelines Flexible 100-Program is 100% financing with flexible underwriting and guidelines Neighborhood Revitalization Program-100% financing, borrower must be below 80% medium income, no PMI with flexible underwriting Affordable Programs & Chip Program-up to 97% financing with no PMI. Borrower must be below 80% medium income NC Housing-up to 100% financing with competitive interest rates. Income guidelines do apply USDA-Guaranteed Rural Housing FHA/VA Programs Additional programs are available for Community Service Workers, such as Teachers, Nurses, Police Officers & Firefighters For More Information Contact These Contributors to the REALTOR Resource Affordable Homeownership Guide Jody Wainio- Chair 397-0206 Buyers Choice Realty Desiree Whalen-Vice Chair 395-4100 Network Real Esate For Pre-qualifying Potential Borrowers, You May Consider Contacting: Pamela Rancke 313-2015 BB&T Mortgage David Flory 313-0045 Dover Mortgage Lisa Mesler 509-2890 Wachovia Mortgage Wilmington Regional Association of REALTORS 3_`abc  B C P Q R S a  ʶ}o]o]M]GC2o2 h^5CJ OJQJ\^JaJ h^ h^0Jh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^CJ OJQJ^JaJ h^CJ(aJ( h^5CJ(OJQJ\^JaJ(h^0JCJ(OJQJ^JaJ(h^0JCJKOJQJ^JaJK&h^56CJ0OJQJ\]^JaJ0&h^56CJ$OJQJ\]^JaJ$h^CJ$OJQJ^JaJ$&h^56CJ4OJQJ\]^JaJ43`ab  R S  # C D N  0^`0gd^gd^gd^ d& ,Dgd^$a$gd^h* D M G X ?HJ56]^opqt±ኆ ttdtS h^5CJOJQJ\^JaJh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^h^CJ aJ h^CJ$OJQJ^JaJ$ h^5CJ$OJQJ\^JaJ$ h^5CJ(OJQJ\^JaJ( h^5CJKOJQJ\^JaJKh^CJOJQJ^JaJ h^5CJ OJQJ\^JaJ h^CJ OJQJ^JaJ  G I J #=>?Jgd^gd^ d& ,Dgd^gd^,qrst$K 0^`0gd^gd^gd^iktu ŴᣕsŴssh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^CJ(OJQJ^JaJ( h^5CJ(OJQJ\^JaJ( h^5CJKOJQJ\^JaJKh^CJOJQJ^JaJh^CJ$OJQJ^JaJ$ h^5CJ$OJQJ\^JaJ$h^CJ OJQJ^JaJ ,(<Rzfgh&ijku 0^`0gd^gd^gd^ d& ,Dgd^ 3BX=>?@ 0^`0gd^gd^ d& ,Dgd^ d& ,Dgd^gd^<=>Cs01bc0￮ЋЋ{mm_НQmmh^CJ(OJQJ^JaJ(h^CJ$OJQJ^JaJ$h^CJOJQJ^JaJh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^5CJ(OJQJ\^JaJ( h^5CJOJQJ\^JaJ h^5CJKOJQJ\^JaJKh^CJ OJQJ^JaJ h^5CJ$OJQJ\^JaJ$ h^5CJ OJQJ\^JaJ @ABCDEs(  0K`gd^ 0^`0gd^gd^gd^,Fiucdea 0^`0gd^gd^gd^ d& ,Dgd^+,e:Ƿ٩٘٘٩p]F]FF-jh^0J5CJ OJQJU\^JaJ $h^0J5CJ OJQJ\^JaJ h^0JCJ(OJQJ^JaJ(h^0JCJKaJKh^CJ$OJQJ^JaJ$ h^5CJ$OJQJ\^JaJ$h^CJOJQJ^JaJh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^CJ OJQJ^JaJ h^CJ(aJ( h^5CJ(OJQJ\^JaJ(a:gxI  6 gd^ d& ,Dgd^gd^ 0^`0gd^HI  5 6 !!!!!)!!";"<""""#~vddTdh^0JCJ OJQJ^JaJ #jh^CJ OJQJU^JaJ h^CJ(aJ( h^5CJ(OJQJ\^JaJ(h^0JCJKaJKh^CJ$OJQJ^JaJ$ h^5CJ$OJQJ\^JaJ$h^CJ aJ h^CJ OJQJ^JaJ h^0JCJ$OJQJ^JaJ$h^0J5OJQJ\^J$h^0J5CJ OJQJ\^JaJ 6 i y !!!!!!"<""""""1#T####$"$$a$gd^ & Fgd^ 0^`0gd^gd^###$$"$K$N$%%&&&T&`&&&%'G''''' ((((̻ssssssdsSEh^CJOJQJ^JaJ h^5CJOJQJ\^JaJh^CJ OJQJ\^JaJ h^5CJ OJQJ\^JaJ h^CJ(OJQJ^JaJ(h^CJ OJQJ^JaJ h^OJQJ^J h^5CJ(OJQJ\^JaJ( h^5CJOJQJ\^JaJ h^5CJ0OJQJ\^JaJ0#h^5CJ*H*OJQJ\^JaJ* h^5CJ*OJQJ\^JaJ*"$J$K$l$$$,%^%%%&T&&%''' ((g(((((())gd^ 0^`0gd^^gd^gd^$a$gd^(()u)w))9*e*f*g*h*ïh}&h^56CJ$OJQJ\]^JaJ$h^5CJ$OJQJ^JaJ$h^h^CJ OJQJ^JaJ &h^56CJ4OJQJ\]^JaJ4h^CJ aJ ))<)=)t)u)v)w))))) * *7*8*9*f*g*h*$a$gd^gd^$a$gd^,1h/ =!"#$% @@@ NormalCJ_HaJmH sH tH DA@D Default Paragraph FontRiR  Table Normal4 l4a (k(No List4U`4 ^ Hyperlink >*pho ^[No paragraph style]d 7$8$H$-B*CJOJQJ^J_HaJmH phsH tH FoF ^Paragraph Style 1CJaJHo!H ^Character Style 15CJ\aJh"T3`abRS#CDN GIJ #=>?J,qrst$K ( < R z f g h & i j k u 3 B X    =>?@ABCDEs(  0K,Fiucdea:gxI6iy<1T"JKl,^T%  g !!!?J,qrst$K ( < R z f g h & i j k u 3 B X    =>?@ABCDEs(  0K,Fiucdea:gxI6iy<1T"JKl,^T%  g !!!A?@BCDEFGHIKJLMNOPQRSUTVWXYZ==pp : : F J Q Q     < A L P W W yOVahhqt||wwsx""C"C"j"   !#"$%&'()*+,.-/023415678:9;<=>@A?BCDEFGHIKJLMNOPQRSUTVWXYZ B*urn:schemas-microsoft-com:office:smarttagscountry-region=2*urn:schemas-microsoft-com:office:smarttags PlaceName=4*urn:schemas-microsoft-com:office:smarttags PlaceType>P*urn:schemas-microsoft-com:office:smarttags PostalCode:T*urn:schemas-microsoft-com:office:smarttagsStreet;U*urn:schemas-microsoft-com:office:smarttagsaddress9Y*urn:schemas-microsoft-com:office:smarttagsState9Z*urn:schemas-microsoft-com:office:smarttagsplace8[*urn:schemas-microsoft-com:office:smarttagsCity 80oBACKGROUND-POSITION: left bottom; BACKGROUND-IMAGE: url(res://ietag.dll/#34/#1001); BACKGROUND-REPEAT: repeat-xstyletabIndex[ZYZ[ZUT[ZYPZ[ZTUUT[ZYPUT[ZYP[ZUT[ZYP[Z4Z2TU[ZYP2Z2224TU[ZYPZ[2Z424TUZUT[ZYPZ[TUUT[ZYP[Z[ZD"j"-6,%!j"3g"j"j"T-oQ0hh^h`OJQJo(hH^`OJQJ^Jo(hHo pp^p`hH. @ @ ^@ `hH. ^`hH. ^`hH. ^`hH. ^`hH. 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