Program Guidelines

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					                        FINANCING APPROVAL PACKAGE
                        DOWNPAYMENT ASSISTANCE
                        PROGRAM GUIDELINES

                                 LOW & MODERATE INCOME BUYERS                                           MARKET RATE BUYERS
  Program Goal            To attract homebuyers earning moderate incomes                  To attract homebuyers earning over 80% of Area Median
                          purchase NEW homes in the Renaissance Pointe                    Income to purchase NEW homes in the Renaissance
                          neighborhood.                                                   Pointe neighborhood.
  Eligible Applicants     Prospective homebuyers with household income                    Prospective Homebuyers earning over 80% Area
                          between 50% to 80% AMI.                                         Median Income.
  Target Geography
                          All Phases of Renaissance Pointe                                Renaissance Pointe Phase 1 Only

                         Applicants must attend a homebuyer education course            Applicants must attend a homebuyer education course
                        at the Renaissance Pointe Welcome Center                        at the Renaissance Pointe Welcome Center

                         Assistance can be used only for downpayment, not for  Assistance can be used only for downpayment, not for
                        closing costs.                                         closing costs.

                         Buyers must invest $500 of their own funds toward the  Buyers must invest $1,000 of their own funds toward
Other Information       home purchase. This may include funds spent on          the home purchase. This may include funds spent on
                        downpayment, closing costs, home inspection, etc.       downpayment, closing costs, home inspection, etc.

                         DPA assistance will be calculated based on a first             Assistance will not be given to homebuyers whose debt-
                        mortgage with a term of 30 years.                               to-income ratio will be over 43% with a City DPA grant.

                         To ensure affordable homeownership, the first
                        mortgage will ideally result in:
                        --29% Housing-to-Income Ratio (Max 33%; Min 20%)            -
                        -43% Debt-to-Income Ratio (Max 43%; Min 20%)

                         Homes will be inspected to insure they meet City
                        Housing Standards.
  Range of
  Assistance              $7,500 to $15,000, depending on affordability analysis.         $5,000. Each household is eligible once in any 10 year
                          Each household is eligible once in any 10 year period.          period.

  Form of                 Deferred Loan: Recorded as a 2nd mortgage, forgiven
  Assistance                                                                              Grant: No lien or 2nd mortgage will be recorded
                          over 10 years.
                         10% of the original amount of DPA will be forgiven per
                        year over 10 years. If owner sells before 10 years, the
                        amount due is payable at time of sale, transfer of title,
                        refinancing, and/or conveyance to an heir who earns over
                        80% AMI. At the end of 10 years, no repayment is due.
                         No interest will be charged & homeowner will not make
                        monthly payments.
                         City DPA loan will take a second position to the first
                        mortgage and will subordinate to home equity loans on a
                        case-by-case basis.



                                                          CERTIFICATION OF UNDERSTANDING

                               I (We), the undersigned, certify that we have read and understand the above Program Guidelines.




                        Applicant Signature                      Date                         Co-Applicant Signature                         Date


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   Program Guidelines                                                                                                                       Page 1
                      APPLICATION INFORMATION
                      AND INCOME VERIFICATION



                            APPLICANT 1                                                    CO-APPLICANT

NAME                                                                NAME
                            First         Middle            Last                           First           Middle           Last

PHONE                                                               PHONE

CURRENT                                                             CURRENT
ADDRESS               Fort Wayne             IN             (zip)   ADDRESS            Fort Wayne             IN            (zip)
How long at this address?                               years       How long at this address?                            years

PREVIOUS                                                            PREVIOUS
ADDRESS               Fort Wayne             IN             (zip)   ADDRESS            Fort Wayne             IN            (zip)
How long at this address?                               years       How long at this address?                            years

                SS#                     Date of Birth                           SS#                      Date of Birth
                       Marital Status                                                   Marital Status

EMPLOYER                                                            EMPLOYER
Name                                                                Name
Phone                                                               Phone
Address                                                             Address

Position                                                            Position
Length of Employment?                                   years       Length of Employment?                                years

PREVIOUS EMPLOYER                                                   PREVIOUS EMPLOYER
Name                                                                Name
Phone                                                               Phone
Address                                                             Address

Length of Employment?                                   years       Length of Employment?                                years

INCOME                                                              INCOME
SOURCES               Hourly              Weekly          Monthly   SOURCES           Hourly               Weekly         Monthly
       Job 1                                                             Job 1
       Job 2                                                             Job 2
  Child Support                                                      Child Support
SS/Retirement                                                       SS/Retirement
Disability/SSI                                                      Disability/SSI
Other Income                                                        Other Income
     TOTAL                                                              TOTAL
          Annual Income                                                    Annual Income
              Any other income?                         annually              Any other income?                          annually

        TOTAL ANNUAL HOUSEHOLD INCOME:                                            $0




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     DPA Application                                                                                                                Page 2
                                Debt Information (for Applicant & Co-Applicant)

                                 Payments        Monthly
    Consumer        Balance      Remaining       Payment       Applicant:
Car Payments                                                    Have you ever filed bankruptcy?
Car Payments                                                          Yes                               No
School Loans                                                                     If yes, date:
Charge Card                                                      Are you a co-signer on any notes?
Charge Card                                                           Yes                               No
Charge Card                                                                     If yes, date:
Charge Card                                                    Co-Applicant:
Charge Card                                                     Have you ever filed bankruptcy?
Child Support                                                         Yes                               No
Other                                                                            If yes, date:
Other                                                            Are you a co-signer on any notes?
TOTAL MONTHLY CONSUMER DEBT:                                          Yes                               No
                                                                                If yes, date:

                                           Household Information
HOUSEHOLD SIZE                       # Adults                   + # Children                      =     Total
DEPENDENTS                  Name                           Relation                   Date of Birth




                                         Current Rental Information
   Length of time at current address:                                           Monthly
   Landlord's Name:                                                             Payment:
   Landlord's Address:

                                             Assets & Real Estate
CHECKING & SAVINGS
                          Institution                    Account #                 Type of Account              Balance
   Account 1
   Account 2
   Account 3
                                                                                                TOTAL
REAL ESTATE OWNED (Other than primary residence)
                                                                                                 Monthly          Net
                                                                 Monthly         Monthly          Rental        Monthly
                           Address              Market Value     Mortgage       Expenses         Income         Income
   Property 1
   Property 2
                               TOTAL




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    DPA Application                                                                                                  Page 3
                                                         Other Information
      Current Household Type:
(Single Adult w/no children - 2 Adults w/no children - 2 Parents & children; Single Mother - Single Father w/custody - Multigenerational -
                                                                  Other)
    Current Housing Situation:
(Adequate rental - Inadequate rental- overcrowded w/more than 2 per bedroom - Poor condition rental not up to code - Overcrowded rental
                                   also in poor condition not up to code - Do not rent, live with others)

Have you ever owned a home before?                            Yes                                     No
       If yes, how long ago?
Have you ever experienced homelessness?                       Yes                                     No


RACE & ETHNICITY
           American Indian/Alaskan Native                                American Indian/Alaska Native & White
           White                                                         Asian & White
           Black/African American                                        Black/African American & White
           Asian                                                         American Indianan/Alaskan Native & Black
           Hispanic                                                      Other
           Native Hawaiian/Pacific Islander

APPLICANT: I do not wish to furnish this information:                                          (Initials)

DISABLED?                                               Yes                                    No

The above information is requested due to the federal funding programs used in Renaissance Pointe and to monitor the lender’s
compliance with equal credit opportunity and fair housing laws. You are not required to furnish this information, but are encouraged to do so.
However, if you chose not to furnish it, under Federal regulations this lender is required to note race and sex on the basis of visual
observation or surname. If you do not wish to furnish the above information, please initial on the provided line above.

How did you hear about this program?
 Friend/Relative/Neighbor                                                     Newspaper Article/News Story
 Realtor                                                                      Brochures/Flyers
 Lender                                                                       Ad in Newspaper/Magazine
 Builder                                                                      Ft. Wayne Urban League
 Homebuyer Class                                                              United Hispanic Americans
 Neighborhood Association                                                     Other:


                                                           CERTIFICATION
I (We), the undersigned, certify that the information concerning my (our) assets, debts and credit references which has been disclosed is
factual and there isn’t any information pertaining to income, household size, assets, debts, and credit references which hasn’t been
disclosed.

I (We), the undersigned, also certify that we will have to sign a separate "Credit Report Authorization" form that will allow Community
Connections and OHNS to obtain consumer credit information to determine eligibility for assistance.

          Application was taken by:       face to face interview                                        Date:
                                          by mail
                                          by telephone

Name & Title of Interviewer:          Trish Kraner, Manager, Community Connections
___________________________________________
             Applicant's Signature      Date                   Co-Applicant's Signature                                             Date




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     DPA Application                                                                                                                       Page 4
                              CREDIT REPORT
                              AUTHORIZATION FORM




         Authorization is hereby granted to Community Connections, a division of Pathfinder Services, Inc.,
         working on behalf of the City of Fort Wayne Office of Housing and Neighborhood Services, to obtain a
         consumer credit report through a credit reporting agency chosen by Community Connections. I
         understand and agree that Pathfinder Services, Inc. and the City of Fort Wayne intend to use the
         consumer credit report for the purposes of evaluating my financial readiness to buy a home and receive
         Downpayment Assistance from the City of Fort Wayne.

         I understand that this credit report will be retained on file at the Community Connections office at the
         offices of the City of Fort Wayne Office of Housing and Neighborhood Services for use only by CC and
         OHNS staff. This information will not be disclosed to anyone by CC or OHNS without my written
         consent.

         Furthermore, I understand that, should I choose to apply for financing through CC (separate from City
         downpayment assistance), a revised credit report costing an additional fee may be required.

         My signature below authorizes the release to the credit reporting agency of financial information which I
         have supplied to Community Connections in connection with such an evaluation. Authorization is
         further granted to the credit reporting agency to use a photostatic reproduction of this form if required to
         obtain any information necessary to complete my consumer credit report.

         SIGNING BELOW GRANTS PERMISSION FOR THE RELEASE OF FINANCIAL INFORMATION TO
         THE CREDIT REPORTING AGENCY & GRANTS PERMISSION FOR COMMUNITY CONNECTIONS
         TO OBTAIN A COPY OF YOUR CREDIT REPORT.


         Applicant Name:
         Applicant Address:
                                                              IN           (zip)

         Applicant Signature:
         Applicant Social Security #:



         Co-Applicant Name:
         Co-Applicant Address:
                                                              IN           (zip)

         Co-Applicant Signature:
         Co-Applicant Social Sec. #:




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Credit Report Authorization                                                                                             Page 5