FTHB - Prince William County Government

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to provide this First-Time Homebuyer (FTHB) Application Packet. The FTHB Program provides financial assistance for downpayment and closing costs for income eligible ..... Prince William, Spotsylvania, and Stafford County, and the Cities of Alexandria, Fairfax, Falls Church, ..... listing service) related to the sale or rental of ....
COUNTY OF PRINCE WILLIAM Dr. A.J. Ferlazzo Building OFFICE OF HOUSING AND 15941 Donald Curtis Drive, Suite 112, COMMUNITY DEVELOPMENT Woodbridge, Virginia 22191-4217 (703) 792-7530 FAX: (703) 792 7393 TTY (703) 792-4364 Elijah T. Johnson Director

FIRST-TIME HOMEBUYER (FTHB) PROGRAM Phase I Dear Applicant: The Prince William County Office of Housing and Community Development is pleased to provide this First-Time Homebuyer (FTHB) Application Packet. The FTHB Program provides financial assistance for downpayment and closing costs for income eligible First-Time Homebuyers living or working in the Prince William Area (Prince William County, the City of Manassas or Manassas Park). The FTHB Program funds are secured for thirty years through a 2nd Deed of Trust against the property that has been purchased. Enclosed are items necessary should you wish to apply to the FTHB Program. 1. FTHB Readiness Self Check 2. FTHB Application Checklist 3. Pre-Qualification Lender Information Form 4. Steps to FTHB Program 5. FTHB Application Based on the information provided, your application will be screened for preliminary eligibility requirements. If all requirements are met you and all adults in your household along with your Lender and Realtor [Team] will be scheduled to attend a mandatory FTHB Program Informational Session. You must not write a contract to purchase until after the Informational Session where specific program requirements will be explained. Only completed FTHB Program Application Packets will be processed. No FAX or electronic submissions will be accepted. Sincerely, Joan Duckett CPD Specialist

An Equal Opportunity Employer

FIRST-TIME HOMEBUYER (FTHB) PROGRAM Readiness Self Check Please take this simple self check before you register for the required Homebuyer Education or submit a FTHB Program Application. This will help you determine if you meet some of the basic eligibility criteria. If you U

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as you proceed through the checklist, you are not ready to submit an FTHB Program Application. U

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1.

Are all household members or persons anticipated to occupy the proposed FTHB Property a U.S. Citizens or qualified alien legally admitted to the U.S. with valid USCIS documents and currently working or living in Prince William County, City of Manassas or

2.

Has anyone in the household or persons anticipated to occupy the proposed FTHB Property had ownership (within the past 3 years) or currently has interest in residential property anywhere in the United States, foreign land or country? If no, proceed to

3.

Has any adult household member filed bankruptcy in the past and if so has it been at least 2 years since the discharge of that

Manassas Park? If yes, proceed to question 2. If no,

question 3. If yes,

STOP here because you do not meet this basic eligibility criterion.

STOP here because you do not meet this basic eligibility criterion.

bankruptcy? If yes, proceed to question 4. If no, it has not been at least 2 years since the bankruptcy was discharged, STOP here because you do not meet this basic eligibility criterion. 4.

Has any adult household member had a foreclosure or short sale of real property? If no, proceed to questions 5. If yes, STOP here because you do not meet this basic eligibility criterion.

5.

Is your total gross household income, based upon household size, at or below the HUD established Prince William Area Median Income standards at 80% (see Attachment) For purposes of determining eligibility the income, assets and circumstances of all individuals, persons, families or households currently residing together (whether related by blood, marriage, adoption, or unrelated), and others anticipated to occupy the FTHB Property must be considered. Gross income is defined as all sources of income (before taxes and other deductions) of all household members. Income includes, but is not limited to the following: annual income from employment, plus bonuses, overtime, pay differential, self employment, dividends, interest, pensions, sick pay, disability payments, Social Security benefits, Veterans Benefits, Alimony, Child Support, Public Assistance, Unemployment Benefits, income from Trusts. Interest from assets is added to income in determining eligibility. Interest on assets over $5,000 is imputed @ the HUD determined passbook rate currently 2%. For assets over $5,000, the greater of the actual interest earned, or interest imputed at the passbook rate is included as income. Gross household annual income is projected forward for one year from date of settlement. Actual or anticipated increases in income such as cost of living, merit increases which can be verified must be included. If your answer to question 5 is yes, proceed to question 6. If no, criterion.

6.

STOP here because you do not meet this basic eligibility

Can you provide verification of a minimum 1% borrower contribution towards your maximum sales price as determined by your Lender? If your answer to question 6 is yes, proceed to question 7. If no, eligibility criterion.

7.

STOP here because you do not meet this basic

The FTHB Program provides between 23% and 33% of the approved Sales Price as determined by OHCD and Lender for downpayment and closing cost assistance, based upon gross household income. You must be able to qualify for a first trust loan from a VHDA approved Lender in order to apply for the FTHB Program. Contact a Virginia Housing Development Authority (VHDA) approved Lender to determine if you have sufficient income and credit to qualify for a First Trust loan at interest rate within 1% of VHDA’s current market rate? VHDA approved lenders can be located at www.vhda.com click on “Find a Lender”. Ask the VDHA lender to complete the attached Pre Qualification Lender Information Form and submit along with a Good Faith Estimate with your FTHB Program Application Packet. If the VHDA approved Lender determines you have sufficient income and credit to qualify for First Trust financing within the FTHB Program Guidelines proceed to question 7. HTU

If you are not able to qualify for a First Trust Loan, U

8.

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STOP here because you do not meet this basic eligibility criterion.

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Do all household adults who will legally share the financial responsibility for the 1st Trust financing and who will occupy the proposed FTHB Property have a “Certificate of Completion” for the required Financial Education and Housing Counseling issued by the Prince William Virginia Cooperative Extension? If you do not have a “Certificate of Completion” for the Financial Education and Housing Counseling issued by the Prince William U

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Virginia Cooperative Extension, STOP here because you do not meet this basic eligibility criterion. For appointments and to schedule required Financial Education and Housing Counseling contact Prince William Virginia Cooperative Extension at www.pwcgov.org/vce/fined or call 703-792-6287. HTU

UTH

If you were able to proceed through these seven questions successfully you are ready to submit your FTHB Program Application Packet available at www.pwcgov.org/housing HTU

UTH

FIRST-TIME HOMEBUYER (FTHB) PROGRAM Application Checklist Read Application Instructions carefully. Incomplete Applications will not be processed. Your Application Packet contains the following:     

FTHB Readiness Self Check to Include Income Limits Program Guidelines Application Checklist FTHB Application Pre-Qualification Lender Information Form – this form must be completed by your Loan Officer

Complete the FTHB Application for each person currently residing together to include those persons anticipated occupying the proposed First-Time Homebuyer Property. The FTHB Program Application Packet must be signed and dated and submit copies of all required documents for each household member to OHCD.

      

         

Copy of Birth Certificates or USCIS Documents to verify legal residency for each person currently residing in the household or others anticipated to occupy the housing unit that may be purchased through the program Copy of Social Security Cards for all household members Copy of Valid Driver’s license, or other legally acceptable picture ID for all adult household members Copy of current Rental Lease Agreement Copy of Deed of Trust for each property owned and real estate tax statement Copies of 3 months recent consecutive pay stubs for each job, and each person employed, or Employment Contract for the current year Self-employed Applicants must have a minimum of two (2) years of self-employment with the same company and in the same line of work. In addition, the following information is required: o Federal income tax returns (personal, partnership or corporate if applicable) for the most two recent years including all schedules and o Balance sheets and current profit and loss statements covering the period since the most recent tax return Current Verification of other household income (child support, alimony, benefits, Social Security, disability, Workman’s Comp, Veterans, Military, Retirement, Pension, Unemployment, etc.) which cannot be older than 6 months Recent Bank Statements for checking, savings, mutual funds, retirement accounts, stocks, bonds, etc. (3 months consecutive statements or last quarterly which must include verification of minimum 1% borrower contribution of funds) Copy of Federal Tax returns and W-2s for the previous three (3) tax years for each adult Copies of current tri merge Credit Report(s) which must include all 3 scores for all applicants, spouse or other household member(s) who will legally share the financial responsibility for the 1st trust financing Credit Reports may be no older than 30 days Copy of Bankruptcy Discharge Documents Copy of Satisfied Collections/Judgments and satisfactory letters of explanation Pre-Qualification Lender Information Form From First Trust Lender completed by Loan Officer Good Faith Estimate completed by Loan Officer Certificate of Completion of Financial Education and Housing Counseling Program issued by Prince William Virginia Cooperative Extension for Applicant, spouse or other household member(s) who will legally share the financial responsibility for the 1st trust financing Completed Homeownership Assistance Program Application Form

The FTHB Program Application Packet must be mailed or hand delivered (Fax not accepted) to: Prince William County Office of Housing and Community Development 15941 Donald Curtis Drive, Suite 112 Woodbridge, VA 22191

FIRST-TIME HOMEBUYER (FTHB) PROGRAM Pre-Qualification Lender Information Form This form must be completed along with a Good Faith Estimate and return to the Office of Housing and Community Development as part of the FTHB Program Application Packet. Purchaser(s) Name: Loan Type:

Check Loan Type - First trust financing must be fixed rate or buydown. NO ARM’s, balloons or interest only loans will be approved in conjunction with FTHB Program Loans. Loan Officers should estimate sales price based on the Loan amount the Purchaser pre-qualifies for using FTHB Program Maximum Pre-Qualifying Ratios of 32/37. At Final Loan approval the Qualification Ratios are 32/40.

VHDA Fixed

Conventional Buydown

Sales Price $ Rate

FHA

VA

Loan Amount $ Origination Fee $

Base Loan $ Discount Points

FTHB Program Funds Requested: Gross Annual Household Income Limits at or below 60% of Area Median Income (AMI see attached chart) FTHB Program Assistance cannot exceed 33% of the Approved Sales Price Gross Annual Household Income Limits above 60% of Area Median Income (AMI see attached chart) FTHB Program Assistance cannot exceed 23% of the Approved Sales Price FTHB recipients are required to obtain the Maximum First Trust Loan subject to the FTHB Maximum Qualifying Ratios

Downpayment Closing Costs Total FTHB Assistance

$ $ $

(Can not exceed 20% to 30% of Approved Sales Price) (Can not exceed 3% of the Approved Sales Price)

Purchaser’s Gross Total Household Income Used for Qualification: (please state if other household members have qualifying income)

$

gross monthly Name

Source of Income

$

gross monthly Name

Source of Income

$

Total Gross Household Income

Ratios used for Qualification Desktop Underwriting Ratios:

/

FTHB Ratios: / Desktop underwriting ratios do not apply to FTHB Program underwriting guidelines. Credit Score:

PI Taxes Insurance MIP/PMI HOA/Condo Total Housing +Debt. Total Debt

$ $

(Includes PITI + monthly debt)

***Maximum FTHB Ratios 32/40, expanded ratios 32/45 may be considered for approval on a case by case basis, only if purchaser demonstrates ability to pay or save at the higher level. Explain in comments section below.

Other Comments: Completed by Date Phone Number

Name of Lending Institution FAX

Email

Application and Purchase Process

Purchaser makes formal loan application with Lender. Upon final loan approval and issuance of Lender Loan Commitment OHCD will be notified and provided required documentation to include the Purchaser Under Contract Lender Form necessary to determine final FTHB Program eligibility. If the first trust loan terms are acceptable to the FTHB Program a final Approval letter will be issued. OHCD issues Closing Instructions to the Lender and Settlement Agency. OHCD must review a final HUD 1 Settlement Statement 7-10 days prior to closing so FTHB funds can be requisitioned .

An Attorney or Settlement Agency prepares all of the necessary legal documents for the 1st Trust Loan and OHCD will prepare all of the necessary legal documents for the 2nd Trust Lien. These documents are signed at the settlement and complete the transfer of the property from the seller to the purchaser. After settlement you are the official owner of the property and can move into your own home!

This Publication is the property of Prince William County and may be reproduced only in it’s original form 09-01-2013

Housing and Community Development Dr. A. J. Ferlazzo Building 15941 Donald Curtis Drive, Suite 112 Woodbridge, Virginia 22191-4217 FTHB/JD

Settlement

Office of Housing & Community Development Dr. A. J. Ferlazzo Building 15941 Donald Curtis Drive, Suite 112 Woodbridge, Virginia 22191-4217 (703) 492-2301 (703) 492-0499 FAX (703) 792-4364 TTY www.pwcgov.org/housing

First-Time Homebuyer Program

Phase IV: Ratified Contract through Settlement (continued)

First-Time Homebuyer Program

First-Time Homebuyer (FTHB) Program provides homeownership opportunities for low and moderate-income persons living or working in the Prince William Area (Prince William County, City of Manassas or City of Manassas Park) with incomes at or below 80% of Area Median Income through the use of federal funding. The Program provides assistance to eligible households for downpayment and closing cost assistance, with maximum assistance between 23% -33% of the approved sales price as determined by OHCD and Lender subject to income limits. Escalation Clauses are not permitted under the FTHB Program. All financial assistance is made available to eligible households on a nondiscrimination basis subject to the availability of funds.

Open Application Period During the Open Application Period the First-Time Homebuyer Application Packet will be available on the Prince William County website www.pwcgov.org/ housing or call 703-492-2301. Only completed FTHB Program Application Packets will be processed. No FAX or electronic submissions will be accepted. To begin the process review the Readiness Self Check to determine if you and your household meet the basic eligibility criteria. The application will be screened for preliminary eligibility requirements. If all requirements are met you and all adults in your household along with your Lender and Realtor [Team] will be required to attend a mandatory FTHB Program Informational Session. Sales Contracts written prior to FTHB Approval are not eligible for funding.

Loan Qualification

Application and Purchase Process

FTHB Program Applicants are free to work with the lender of their choice provided the lending institution meets Virginia Housing Development Authority (VHDA) lender requirements, and are actively on VHDA’s Approved Lender List, with office located in Virginia.

Phase I: Application Process Applicant must complete the FTHB Program Application and submit all required documentation, including Certificate of Completion for the Financial Education and Housing Counseling and Pre-Qualification Lender Information Form along with a Good Faith Estimate. Only completed applications with all required documentation will be reviewed. Applications will be screened for income and program eligibility by OHCD Staff and provide evidence of 1% borrower contribution.

Purchaser will make formal loan application with Lender to obtain the maximum First Trust Loan for which they can qualify with income/debt ratios not to exceed 32/40. The First Trust Loan must be a VHDA, FHA, Conventional or VA product with No Adjustable Rate Mortgages (ARMs), Balloons or Interest Only. Sufficient income and good credit are essential in order to qualify for the First-Time Homebuyer Program and a First Trust Mortgage Loan.

Before You Apply First: Complete the FTHB Application Readiness Self Check. Second: Applicant, spouse or other household member(s) who will legally share the financial responsibility for the 1st trust financing must have a Certificate of Completion of Financial Education and Housing Counseling issued by Prince William Virginia Cooperative Extension. Go to www.pwcgov.org/vce/ fined for class schedules and Financial Assessment appointment process. Third: Make formal loan application with a VHDA Approved Lender to obtain the maximum First Trust Loan for which you can qualify. Lender must complete the Pre-Qualification Lender Information Form and a Good Faith Estimate. Fourth: Submit complete FTHB Application along copies of all required documentation.

Phase II: Information Session If all requirements are met you and all adults in your household along with your Lender and Realtor [Team] will be required to attend a mandatory FTHB Program Informational Session. A Certificate of Readiness Agreement will be issued and signed to outline program terms, conditions and authorize search for the home of your choice. Phase III: Property Selection Based on the Pre-Qualification Lender Information Form you will be advised of the maximum 1st Trust Loan amount based upon your households income and ability to repay. With the assistance of a Realtor you can now locate and write a Sales Contract for a property located in Prince William County or the City of Manassas. Sales Contracts must be in compliance with FTHB Program requirements. Phase IV: Ratified Contract through Settlement The Ratified Sales Contract, Good Faith Estimate (including 2nd Trust Cost), Purchaser Under Contract Lender Form , Professional Home Inspection and HUD Housing Quality Inspection (HQS) and Amendments pertaining to failed inspection items is submitted to OHCD for review of compliance. Based upon these items OHCD will make a Reservation of FTHB Program funds based upon availability of funds.

FIRST-TIME HOMEBUYER (FTHB) PROGRAM APPLICATION Please print all information clearly, in ink. If an item does not apply to your situation, print "N/A". Make sure you attach copies of all documents requested on the FTHB Application Checklist. Incomplete Applications will be returned. Mail application to OHCD, 15941 Donald Curtis Drive, Suite 112, Woodbridge, VA 22191 For purposes of determining eligibility for the FTHB Program the income, assets and circumstances of all individuals, persons, families or households currently residing together (whether related by blood, marriage, adoption, or unrelated), and others anticipated to occupy the housing unit will be considered, and must meet all program requirements. Therefore, you must list all persons currently residing together and others anticipated to occupy the housing unit which may be purchased through the FTHB Program. All information requested on this form must be reported for each person listed if applicable to their circumstances.

Name(s) and Personal Data for Each Person Currently Residing Together and Those Persons Anticipated Occupying the Proposed First-Time Homebuyer Property: NAME Last

First

RELATIONSHIP Middle

DATE OF BIRTH

AGE

SOCIAL SECURITY NUMBER

RACE*

HISPANIC

use codes below

Yes/No

Head of Household

11-White 12-Black/African American 18-Black/African American & White 13-Asian 17-Asian & White 14-American Indian/Alaskan Native 16-American Indian/Alaskan Native & White 19-American Indian/ Alaskan Native & Black/African American & White 15-Native Hawaiian/Other Pacific Islander 20-Other

Current Information Check One:

Rent $

Own $

Live with Relatives/Friends

Address

Phone Street

City

Zip

Have you, or any person, individual, family or household member listed on this application had ownership interest (own, purchase, co-sign on a loan, inherit, etc. regardless of whether they lived there) in a home or other residential property within the last 3 years anywhere in the United States, foreign land or country? Yes No

For Official Use Only OHCD Date and Time Stamp

Approved Denied Incomplete Application Returned Date ___________

Page 1 of 6

Income/Employment Information Provide information for each person currently residing together and those persons anticipated occupying the proposed First-Time Homebuyer Property. Attach copies of 3 months recent consecutive pay stubs for each job and each person employed. Copies of Federal Tax returns and W-2’s for previous 3 years for each adult. Name of Household Member Position Title

Full Time

Employer’s Name

Phone

Part Time Employer’s FAX

Employer’s Address Street

City

Zip

Work Site Address if different from Employer’s Street

$

Monthly

Semi-Monthly

City

Bi-Weekly

Zip

Weekly

Income/Employment Information Name of Household Member Position Title

Full Time

Employer’s Name

Phone

Part Time Employer’s FAX

Employer’s Address Street

City

Zip

Work Site Address if different from Employer’s Street

$

Monthly

Semi-Monthly

City

Bi-Weekly

Zip

Weekly

Income/Employment Information Name of Household Member Position Title

Full Time

Employer’s Name

Phone

Part Time Employer’s FAX

Employer’s Address Street

City

Zip

Work Site Address if different from Employer’s Street

$

Monthly

Semi-Monthly

City

Bi-Weekly

Page 2 of 6

Weekly

Zip

Other Income Attach copies of income verification. Provide information for each person currently residing together and those persons anticipated occupying the proposed First-Time Homebuyer Property. Attach additional sheet if additional space is needed. Specify Source Child support received Unemployment Benefits, Alimony, Regular Gifts or Payments, Social Security, SSI, Veteran’s Benefits, Disability, Pension/Retirement, or Other. Source

Person Receiving

Annual Gross Amount $

(before tax)

Source

Person Receiving

Annual Gross Amount $

(before tax)

Source

Person Receiving

Annual Gross Amount $

(before tax)

Source

Person Receiving

Annual Gross Amount $

(before tax)

Assets Assets are cash or non cash items which can be converted to cash. Provide information for each person currently residing together and those persons anticipated occupying the proposed First-Time Homebuyer Property. Attach copy of recent statements (Attach additional sheet if needed) Specify Type Cash on hand, Checking, Savings, Employer Retirement Account, 457, 401, IRA, Stocks, Mutual Funds, Bonds, or Other. $ Name on Account

Bank/Account Name & #

Type (Checking/savings)

Name on Account

Bank/Account Name & #

Type (Checking/savings)

Name on Account

Bank/Account Name & #

Type (Checking/savings)

Name on Account

Bank/Account Name & #

Type (Checking/savings)

Name on Account

Bank/Account Name & #

Type (Checking/savings)

Current Balance $ Current Balance $ Current Balance $ Current Balance $ Current Balance

Life Insurance Policies $

Name on Policy

Company

Name on Policy

Company

Name on Policy

Company

Face Value $ Face Value $ Face Value

Property Owned This includes Time Shares and all real estate of all types Attach copies of Property Tax Statements, Deed of Trust and Legal Documents for time shares.

Name of Owners

Type of Property

Address Street

City

Zip

$ Current Value

Name of Owners

Type of Property

Address Street

City

Zip

$ Current Value

Name of Owners

Type of Property

Address Street

City

Zip

$ Current Value

Page 3 of 6

Liabilities Provide information for each person currently residing together and those persons anticipated occupying the proposed First-Time Homebuyer Property. Installment Accounts ( credit cards, auto loans, etc) Type of Account

Balance Owed

Account Number

Monthly Payment

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

DO YOU PAY ALIMONY OR CHILD SUPPORT? If yes, list monthly amounts

$

Other –Explain

$

Rent Payment

$

$

Declarations The following questions refer to each person currently residing together and those persons anticipated occupying the proposed First-Time Homebuyer Property. Check appropriate answer. Are persons listed on this form U.S. citizen, U.S. IF NO, explain: non-citizen nationals, or qualified legally Yes No admitted aliens with valid USCIS documents? Attach copies of birth certificates and USCIS documents. Is anyone currently delinquent on any Has anyone filed bankruptcy in the past seven Yes No Federal debt or any other loan? Yes No years? IF YES, attach copy of discharge documents, and letter of explanation. Is anyone obligated to pay alimony, Are there any outstanding judgments or Yes No child support? Who? Yes No collections against anyone? IF YES, attach copy of judgments, and letter of explanation. Has anyone disposed of any property Has anyone had property foreclosed upon? Yes No at less than fair market value in the Yes If yes, who? When past two years? No Are you currently on the Section 8 Is anyone a co-maker or endorser on a note? Yes No Rental Assistance Program? Yes No Have you already written a contract Is anyone a party to a lawsuit? Yes No on a house to purchase? Yes No Have you listed all occupants currently residing with you, and others anticipated to occupy the housing unit, and Yes No (If no please explain why?) their income?

If only one of the listed adults will be responsible for the first trust financing, please explain why.

Page 4 of 6

Certifications for the First-Time Homebuyer (FTHB) Program Each adult listed on the Application must read, sign and date certifying the following:

The signatures below certify our understanding that for purposes of determining eligibility for the FirstTime Homebuyer (FTHB) Program the income, assets and circumstances for all individuals, persons, families, household currently residing together (whether related by blood, marriage, adoption, or unrelated), and others anticipated to occupy the housing unit will be considered, and must meet all program requirements. We certify that we have listed all persons currently residing together, and others anticipated to occupy the housing unit which may be purchased through the FTHB Program. We certify that we have provided all information requested on this application form for each person listed as applicable to their circumstances. The signatures below certify that all information provided on this application form, and all information furnished in support of this application, is given for the purpose of obtaining assistance through the FTHB Program, and is true and complete to the best of our knowledge and belief. The signatures below further certify our understanding that any intentional misrepresentation of information provided on this application form, or in support of this application is a Federal crime punishable by fine or imprisonment, or both under the provisions of Title 18, U. S. Code and will result in denial of assistance through the FTHB Program, or repayment of assistance received through the program. The signatures below acknowledge that this application is a request for assistance through the FTHB Program, and does not constitute approval or acceptance by the Prince William County Office of Housing and Community Development. The signatures below hereby authorize employees of the Office of Housing and Community Development, or it's agents to contact any person, business, employers or organizations listed in this application for purposes of determining eligibility for the FTHB Program. The signatures below hereby authorize employees of the Office of Housing and Community Development, or its agents, to discuss and provide all documentation of Applicant’s information with agents of lending institutions participating in the FTHB Program for purposes of obtaining a mortgage loan. The signatures below certify our understanding that if awarded, The FTHB Program will not be subordinated at anytime during the deferral period to a Home Equity Loan, other loan, or refinances of the first loan that result in removal of equity from the property for any reason (i.e. cash, loan consolidation, debt repayment, home improvements, education expenses, etc.) The signatures below certify our understanding that the household must be income eligible up to and including the day of settlement. We agree to report all changes in our incomes within five days of our notification of any change. When determining eligibility, OHCD projects income forward which means pay raises, bonuses, overtime, and pay differential, may result in ineligibility as this is updated until date of settlement of the property. Interest from assets is added to income in determining eligibility. Interest on assets over $5,000 is imputed @ the HUD determined passbook rate. For assets over $5,000, the greater of the actual interest earned, or interest imputed at the passbook rate is included as income. The signature below certifies our understanding that if approved for purchase through the FTHB Program the property will be maintained as the households’ primary and exclusive place of residence and that the property may not be rented to a third party. Therefore the property must be owner occupied at all times.

Page 5 of 6

The signature below certifies our understanding that if the property purchased through the FTHB Program is not longer used as the primary residence; transfer or change of ownership, sale of property, property rented to third party, refinanced for cash out or other violations of the Deed of Trust then the full amount of the FTHB Program Lien will become due and payable plus a Shared Market Appreciation. ONLY COMPLETED APPLICATIONS WITH ALL VERIFICATIONS REQUESTED & CREDIT REPORTS WILL BE REVIEWED - INCOMPLETE APPLICATIONS WILL BE RETURNED. Confirm that you have included copies (do not send originals) of all documents required in connection with this application by completing the List Application Checklist. All Adults are required to review the contents of this application for accuracy and completeness and sign and date:

Head of Household

Date

Other Adult Household Members

Date

Other Adult Household Members

Date

Other Adult Household Members

Date

Other Adult Household Members

Date

FTHB Application 7-1-11

Page 6 of 6

PRINCE WILLIAM AREA 2014 MEDIAN INCOME TABLES Effective December 12, 2013

Extremely Low Income - Gross household income 30% area median income (AMI), adjusted for household size per the following table: 1 Person $22,500

2 Person $25,700

3 Person $28,900

4 Person $32,100

5 Person $34,700

6 Person $37,250

7 Person $39,850

8 Person $42,400

Low Income - Gross household income 50% area median income (AMI), adjusted for household size per the following table: 1 Person $37,450

2 Person $42,800

3 Person $48,150

4 Person $53,500

5 Person $57,800

6 Person $62,100

7 Person $66,350

8 Person $70,650

60% Income - Gross household income 60% area median income (AMI), adjusted for household size per the following table: 1 Person

2 Person

3 Person

4 Person

5 Person

6 Person

7 Person

8 Person

Moderate Income - Gross household income 80% area median income (AMI), adjusted for household size per the following table: 1 Person $47,950

2 Person $54,800

3 Person $61,650

4 Person $68,500

5 Person $74,000

6 Person $79,500

7 Person $84,950

8 Person $90,450

Jurisdictions covered by these income limits include the following: Arlington, Fairfax, Fauquier, Loudoun, Prince William, Spotsylvania, and Stafford County, and the Cities of Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas and Manassas Park in Virginia; Washington, D.C.; and Calvert, Charles, Frederick, Montgomery, and Prince George's County in the State of Maryland. Median family income estimates are available at HUD’s internet site: http://www.huduser.org/portal/datasets/il/il2014/2014summary.odn Median Family Income for Washington Metropolitan Area is $107,000.

Income Levels

WHAT IS THE VIRGINIA COOPERATIVE EXTENSION (VCE) FINANCIAL EDUCATION & HOUSING COUNSELING PROGRAM? Whether you are thinking about buying your first home, are experiencing financial hardship, need information about tenant rights, or you just want to learn how to manage your money better, VCE has an opportunity for you. Monthly workshops in personal finance and first-time homebuyer education seminars are available throughout the county. An individual financial assessment can get you started on the road to effective money management. Foreclosure prevention and reverse mortgage services are provided in confidential sessions with a Certified Housing Counselor. VCE is a joint program of Virginia Tech, Virginia State University, U.S. Department of Agriculture, and state and local governments. VCE programs, activities, and employment opportunities are available to all people regardless of race, color, sex, disability, age, veteran status, national origin, religion, or political affiliation. We are an equal opportunity/affirmative action employer. Help us go GREEN and save more than just a tree! To receive eNotifications by electronic mail register at www.pwcgov.org/eServices/eNotifications

VCE Financial Education and Housing Counseling Program Valuing integrity, people, and the delivery of quality services!

VCE Prince William is an approved Local Housing Counseling Agency through the Office of Housing and Urban Development (HUD). VCE is affiliated with the Virginia Housing Development Authority (VHDA) and the Prince William County Office of Housing and Community Development. VCE formally adopted the National Industry Standards for Homeownership Education and Counseling. CANCELLATION POLICY: If Prince William County Schools close due to weather or other events, VCE activities will be cancelled. Visit www.pwcs.edu for notice of closures or cancellations. Inclement weather postings will be made the day of class @ 703-792-8082. REFERRING AGENCY REQUIREMENTS: If you are attending an event to meet partner agency requirements, please bring the notice of completion from the referring agency for the Instructor to sign. First-time Home Buyer or Housing Assistance Program certificates will be issued upon completion of all required activities. If you are a person with a disability and require auxiliary aids, services or other accommodations to participate in any of these workshops, please notify VCE five days before an event. Call: 703-792-4765 / TDD PC 1-800-828-1120

Virginia Cooperative Extension programs and employment are open to all, regardless of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, genetic information, marital, family, or veteran status, or any other basis protected by law. An equal opportunity/affirmative action employer. Issued furtherance of Cooperative Extension work, Virginia Polytechnic Institute and State University, Virginia State University, and the U.S. Department of Agriculture cooperating. Edwin J. Jones, Director, Virginia Cooperative Extension, Virginia Tech, Blacksburg; Jewel E. Hairston, Administrator, 1890 Extension Program, Virginia State, Petersburg.

Note: Meetings with VCE staff are never reported to credit bureaus or other credit reporting agencies. We have an established policy on confidentiality. We do not sell or endorse any products or services.

Financial Education and Housing Counseling Program January 2014

PLAN ET BUDG EDUCATION

HOME COU NSEL I

NG

Virginia Cooperative Extension Prince William 8033 Ashton Avenue, Suite 105 Manassas, Virginia 20109-8202 Interested in volunteering? VCE is able to offer many of its activities due to the tireless contributions of our volunteers. If you would like to join the VCE team, call 703 703--792 792--4765 or email [email protected] Training is provided.

Financial Education & Housing Counseling Program SMART MONEY MANAGEMENT

RENTAL WORKSHOP

Get back to basics and improve your money management skills. During this workshop you will:  Examine your spending habits  Realize the importance of setting financial goals  Learn how to determine net worth and cash flow  Understand how to manage credit and debt  Discover the steps involved in establishing a spending plan

Learn about your rights and responsibilities under the Virginia Residential Landlord Tenant Act. Protect your rights by becoming educated about the legal eviction process. This workshop will highlight:  Tenant rights  Tenant responsibilities  Landlord responsibilities  Lease agreements  Lease violations  The eviction process  Tenant remedies

Am I Ready to Buy a House? Learn what’s really involved in buying a house and whether you’re ready for the responsibility. This workshop will help you discover:  The importance of establishing a spending plan  The monthly payment that fits into your budget  The sales price that’s affordable for you  The costs associated with pre-approval  The effect of your credit history on your ability to qualify for a loan

A VHDA certificate is issued at the completion of the Home Ownership Seminar.

HOMEBUYER CLUB If you’re serious about buying a house but have some barriers to overcome, join the Homebuyer Club. Each month, industry professionals from your community will provide information related to homeownership with the goal of obtaining loan approval within 14 months. You will also have the opportunity to meet individually with a Housing Counselor to work on specific issues.

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REGISTRATION Select a convenient class and location Email your name and selection to: [email protected] or Call 703-792-8082 to leave a message with your registration information

Enjoy a meal, share ideas with others in the club, play games and win door prizes as you become an informed homebuyer!

Except where noted, locations are as follows: SUDLEY NORTH

HOME OWNERSHIP SEMINAR Make your first-time home buying experience successful by being informed about the process and responsibilities of homeownership. Examine the home buying process starting with pre-purchase planning and understanding credit. Learn how to choose the right mortgage type, find a real estate agent you can trust, benefit from a home inspection and select a closing agent. Seminars are held on Saturday; lunch break included; feel free to bring snack/drink.

FINANCIAL ASSESSMENT CLINIC Find out where your money goes, plan for significant life changes, compute your net worth and determine your cash flow. Meet one-on-one with a counselor to examine your income, expenses, assets and debt. Together, you will develop a plan of action to reach your goals. Financial Assessments are conducted by appointment on Thursday evenings at 7:00 p.m. Call 703-7924765 to schedule an appointment

McCoy Conference Room

7987 Ashton Avenue Manassas, VA 20109 FERLAZZO Leesylvania Conference Room 15941 Donald Curtis Drive Woodbridge, VA 22192    

ATTENDANCE POLICY Please be courteous and arrive on time If you arrive more than 15 minutes after the start of an activity, you may not receive credit for attendance If you are unable to attend, please notify VCE No-shows may be subject to a 30-day wait to register for additional activities

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HOUSING COUNSELING Individual counseling is available in conjunction with workshops and seminars. Foreclosure prevention services assist borrowers with loan modification, repayment plan, short sale or deed in lieu of foreclosure. Certified Home Equity Conversion Mortgage (HECM) Counselor on staff to provide reverse mortgage counseling. Post-purchase counseling available to new home buyers. For Housing Counseling call: 703-792-4713 or email: [email protected]

U.S. Department of Housing and Urban Development Office of Fair Housing and Equal Opportunity

Fair Housing Equal Opportunity for All

Please visit our website: www.hud.gov/fairhousing

Fair Housing – Equal Opportunity for All The rich diversity of our people, coupled with the unity of spirit upon which this nation was founded, is America’s true strength. We are a nation that celebrates equality of opportunity, which makes it all the more disturbing when new immigrants, minorities, families with children, and people with disabilities are denied housing because of unfair housing discrimination. The Department of Housing and Urban Development enforces the Fair Housing Act and the other federal laws that prohibit discrimination and the intimidation of people in their homes. These laws cover virtually all housing in the United States – private homes, apartment buildings, and condominium developments – and nearly all housing transactions, including the rental and sale of housing and the provision of mortgage loans. Equal access to rental housing and homeownership opportunities is the cornerstone of this nation’s federal housing policy. Landlords who refuse to rent or sell homes to people based on race, color, national origin, religion, sex, familial status, or disability are violating federal law, and HUD will vigorously pursue them. Housing discrimination is not only illegal, it contradicts in every way the principles of freedom and opportunity we treasure as Americans. The Department of Housing and Urban Development is committed to ensuring that for everyone seeking a place to live, all housing is Fair Housing.

Mel Martinez Secretary

Contents

The Fair Housing Act ...................................... 1 What Housing Is Covered? ............................... 1 What Is Prohibited? ........................................ 1 Additional Protection If You Have A Disability ......... 3 Housing Opportunities for Families ..................... 5 If You Think Your Rights Have Been Violated .......... 6 What Happens When You File A Complaint? ........ 10 Does the U.S. Department of Justice Play A Role? ............................................... 11 What Happens After A Complaint Investigation? ... 12 In Addition ................................................. 13 U.S. Department of Housing and Urban Development Secretary Mel Martinez 451 7th Street, S.W. Washington, DC 20410-2000

The Fair Housing Act

The Fair Housing Act prohibits discrimination in housing because of: • Race or color • National origin • Religion • Sex • Familial status (including children under the age of 18 living with parents or legal custodians; pregnant women and people securing custody of children under 18) • Handicap (Disability)

What Housing Is Covered?

What Is Prohibited?

The Fair Housing Act covers most housing. In some circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family housing sold or rented without the use of a broker and housing operated by organizations and private clubs that limit occupancy to members. In the Sale and Rental of Housing: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap (disability): • Refuse to rent or sell housing • Refuse to negotiate for housing • Make housing unavailable • Deny a dwelling • Set different terms, conditions or privileges for sale or rental of a dwelling • Provide different housing services or facilities • Falsely deny that housing is available for inspection, sale or rental • For profit, persuade owners to sell or rent (blockbusting) or • Deny anyone access to or membership in a facility or service (such as a multiple listing service) related to the sale or rental of housing.

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In Mortgage Lending: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap (disability): • Refuse to make a mortgage loan • Refuse to provide information regarding loans • Impose different terms or conditions on a loan, such as different interest rates, points, or fees • Discriminate in appraising property • Refuse to purchase a loan or • Set different terms or conditions for purchasing a loan In Addition: It is illegal for anyone to: • Threaten, coerce, intimidate or interfere with anyone exercising a fair housing right or assisting others who exercise that right • Advertise or make any statement that indicates a limitation or preference based on race, color, national origin, religion, sex, familial status or handicap (disability). This prohibition against discriminatory advertising applies to single-family and owner-occupied housing that is otherwise exempt from the Fair Housing Act.

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Additional Protection If You Have A Disability

If you or someone associated with you: • Have a physical or mental disability (including hearing, mobility and visual impairments, cancer, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activities • Have a record of such a disability or • Are regarded as having such a disability your landlord may not: • Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing. (Where reasonable, the landlord may permit changes only if you agree to restore the property to its original condition when you move.) • Refuse to make reasonable accommodations in rules, policies, practices or services if necessary for the disabled person to use the housing Example: A building with a “no pets” policy must allow a visually impaired tenant to keep a guide dog. Example: An apartment complex that offers tenants ample, unassigned parking must honor a request from a mobility-impaired tenant for a reserved space near her apartment if necessary to assure that she can have access to her apartment. However, housing need not be made available to a person who is a direct threat to the health or safety of others or who currently uses illegal drugs.

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Requirements for New Buildings: In buildings that are ready for first occupancy after March 13, 1991, and have an elevator or four or more units: • Public and common areas must be accessible to persons with disabilities • Doors and hallways must be wide enough for wheelchairs • All units must have: – An accessible route into and through the unit – Accessible light switches, electrical outlets, thermostats and other environmental controls – Reinforced bathroom walls to allow later installation of grab bars and – Kitchen and bathrooms that can be used by people in wheelchairs If a building with four or more units has no elevator and will be ready for first occupancy after March 13, 1991, these standards apply to ground floor units. These requirements for new buildings do not replace any more stringent standards in State or local law.

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Housing Opportunities for Families

Unless a building or community qualifies as housing for older persons, it may not discriminate based on familial status. That is, it may not discriminate against families in which one or more children under 18 live with: • A parent • A person who has legal custody of the child or children or • The designee of the parent or legal custodian, with the parent or custodian’s written permission. Familial status protection also applies to pregnant women and anyone securing legal custody of a child under 18. Exemption: Housing for older persons is exempt from the prohibition against familial status discrimination if: • The HUD Secretary has determined that it is specifically designed for and occupied by elderly persons under a Federal, State or local government program or • It is occupied solely by persons who are 62 or older or • It houses at least one person who is 55 or older in at least 80 percent of the occupied units, and adheres to a policy that demonstrates an intent to house persons who are 55 or older. A transition period permits residents on or before September 13, 1988 to continue living in the housing, regardless of their age, without interfering with the exemption.

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If You Think Your Rights Have Been Violated

HUD is ready to help with any problem of housing discrimination. If you think your rights have been violated, you may write a letter or telephone the HUD office nearest you. You have one year after an alleged violation to file a complaint with HUD, but you should file it as soon as possible. What to Tell HUD • Your name and address • The name and address of the person your complaint is against (the respondent) • The address or other identification of the housing involved • A short description of the alleged violation (the event that caused you to believe your rights were violated) • The date(s) of the alleged violation Where to Write or Call: Send a letter to the fair housing office nearest you, or if you wish, you may call that office directly. (The direct dial and TTY numbers for the deaf/hard of hearing users are not toll free.) For Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont: NEW ENGLAND OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Thomas P. O’Neill, Jr. Federal Building 10 Causeway Street, Room 321 Boston, MA 02222-1092 Telephone (617) 994-8300 or 1-800-827-5005 Fax (617) 565-7313 • TTY (617) 565-5453 For New Jersey and New York: NEW YORK/NEW JERSEY OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development 26 Federal Plaza, Room 3532 New York, NY 10278-0068 Telephone (212) 264-1290 or 1-800-496-4294 Fax (212) 264-9829 • TTY (212) 264-0927

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For Delaware, District of Columbia, Maryland, Pennsylvania, Virginia, and West Virginia: MID-ATLANTIC OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development The Wanamaker Building 100 Penn Square East Philadelphia, PA 19107-9344 Telephone (215) 656-0662 or 1-888-799-2085 Fax (215) 656-3419 • TTY (215) 656-3450 For Alabama, the Caribbean, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee: SOUTHEAST/CARIBBEAN OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Five Points Plaza 40 Marietta Street, 16th Floor Atlanta, GA 30303-2808 Telephone (404) 331-5140 or 1-800-440-8091 Fax (404) 331-1021 • TTY (404) 730-2654 For Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin: MIDWEST OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Ralph H. Metcalfe Federal Building 77 West Jackson Boulevard, Room 2101 Chicago, IL 60604-3507 Telephone (312) 353-6236 or 1-800-765-9372 Fax (312) 886-2837 • TTY (312) 353-7143

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For Arkansas, Louisiana, New Mexico, Oklahoma, and Texas: SOUTHWEST OFFICE Fair Housing Enforcement Center U.S. Department of Housing and Urban Development 801 North Cherry, 27th Floor Fort Worth, TX 76102 Telephone (817) 978-5900 or 1-888-560-8913 Fax (817) 978-5876 or 5851 • TTY (817) 978-5595 For Iowa, Kansas, Missouri and Nebraska: GREAT PLAINS OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Gateway Tower II 400 State Avenue, Room 200, 4th Floor Kansas City, KS 66101-2406 Telephone (913) 551-6958 or 1-800-743-5323 Fax (913) 551-6856 • TTY (913) 551-6972 For Colorado, Montana, North Dakota, South Dakota, Utah, and Wyoming: ROCKY MOUNTAINS OFFICE Fair Housing Enforcement Center U.S. Department of Housing and Urban Development 633 17th Street Denver, CO 80202-3607 Telephone (303) 672-5437 or 1-800-877-7353 Fax (303) 672-5026 • TTY (303) 672-5248

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For Arizona, California, Hawaii, and Nevada: PACIFIC/HAWAII OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Phillip Burton Federal Building and U.S. Courthouse 450 Golden Gate Avenue San Francisco, CA 94102-3448 Telephone (415) 436-8400 or 1-800-347-3739 Fax (415) 436-8537 • TTY (415) 436-6594 For Alaska, Idaho, Oregon, and Washington: NORTHWEST/ALASKA OFFICE ([email protected]) Fair Housing Enforcement Center U.S. Department of Housing and Urban Development Seattle Federal Office Building 909 First Avenue, Room 205 Seattle, WA 98104-1000 Telephone (206) 220-5170 or 1-800-877-0246 Fax (206) 220-5447 • TTY (206) 220-5185 If after contacting the local office nearest you, you still have questions – you may contact HUD further at: U.S. Department of Housing and Urban Development Office of Fair Housing and Equal Opportunity 451 7th Street, S.W., Room 5204 Washington, DC 20410-2000 Telephone (202) 708-0836 or 1-800-669-9777 Fax (202) 708-1425 • TTY 1-800-927-9275

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If You Are Disabled: HUD also provides: • A TTY phone for the deaf/hard of hearing users; see above list for the HUD office nearest you. • Interpreters • Tapes and braille materials • Assistance in reading and completing forms

What Happens When You File A Complaint?

HUD will notify you when it receives your complaint. Normally, HUD also will: • Notify the alleged violator of your complaint and permit that person to submit an answer • Investigate your complaint and determine whether there is reasonable cause to believe the Fair Housing Act has been violated • Notify you if it cannot complete an investigation within 100 days of receiving your complaint Conciliation: HUD will try to reach an agreement with the person your complaint is against (the respondent). A conciliation agreement must protect both you and the public interest. If an agreement is signed, HUD will take no further action on your complaint. However, if HUD has reasonable cause to believe that a conciliation agreement is breached, HUD will recommend that the Attorney General file suit. Complaint Referrals: If HUD has determined that your State or local agency has the same fair housing powers as HUD, HUD will refer your complaint to that agency for investigation and notify you of the referral. That agency must begin work on your complaint within 30 days or HUD may take it back.

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Does the U.S. Department of Justice Play A Role?

If you need immediate help to stop a serious problem that is being caused by a Fair Housing Act violation, HUD may be able to assist you as soon as you file a complaint. HUD may authorize the United States Attorney General to go to court to seek temporary or preliminary relief, pending the outcome of your complaint, if: • Irreparable harm is likely to occur without HUD’s intervention • There is substantial evidence that a violation of the Fair Housing Act occurred Example: A builder agrees to sell a house but, after learning the buyer is black, fails to keep the agreement. The buyer files a complaint with HUD. HUD may authorize the Attorney General to go to court to prevent a sale to any other buyer until HUD investigates the complaint.

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What Happens After A Complaint Investigation?

If, after investigating your complaint, HUD finds reasonable cause to believe that discrimination occurred, it will inform you. Your case will be heard in an administrative hearing within 120 days, unless you or the respondent want the case to be heard in Federal district court. Either way, there is no cost to you. The Administrative Hearing: If your case goes to an administrative hearing HUD attorneys will litigate the case on your behalf. You may intervene in the case and be represented by your own attorney if you wish. An Administrative Law Judge (ALJ) will consider evidence from you and the respondent. If the ALJ decides that discrimination occurred, the respondent can be ordered: • To compensate you for actual damages, including humiliation, pain and suffering. • To provide injunctive or other equitable relief, for example, to make the housing available to you. • To pay the Federal Government a civil penalty to vindicate the public interest. The maximum penalties are $11,000 for a first violation, $27,500 for a previous violation within the preceding five year period and $55,000 for two or more previous violations within the preceding seven years. • To pay reasonable attorney’s fees and costs. Federal District Court: If you or the respondent choose to have your case decided in Federal District Court, the Attorney General will file a suit and litigate it on your behalf. Like the ALJ, the District Court can order relief, and award actual damages, attorney’s fees and costs. In addition, the court can award punitive damages.

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In Addition

You May File Suit: You may file suit, at your expense, in Federal District Court or State Court within two years of an alleged violation. If you cannot afford an attorney, the court may appoint one for you. You may bring suit even after filing a complaint, if you have not signed a conciliation agreement and an Administrative Law Judge has not started a hearing. A court may award actual and punitive damages and attorney’s fees and costs. Other Tools to Combat Housing Discrimination: • If there is noncompliance with the order of an Administrative Law Judge, HUD may seek temporary relief, enforcement of the order or a restraining order in a United States Court of Appeals. • The Attorney General may file a suit in Federal District Court if there is reasonable cause to believe a pattern or practice of housing discrimination is occurring. For Further Information: The purpose of this brochure is to summarize your right to fair housing. The Fair Housing Act and HUD’s regulations contain more detail and technical information. If you need a copy of the law or regulations, contact the HUD fair housing office nearest you. See the list of Fair Housing Enforcement Centers on page 6-9.

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U.S. Department of Housing and Urban Development Room 5204 Washington, D.C. 20410-2000

HUD-1686-FHEO January 2002

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