Assistance Loan Submission (Page 3 of 3) in pdf

Assistance Loan Submission Page 3

Housing Subsidy Worksheet

Note: Total Cost of House Minus Total Financing of House = Gap

Name

Property Address

Household Income (Y

Percent of Median Income

early)

Family Size

Number of Children

Borrower (s) Income (Yearly) $

Costs

A. Contract Selling Cost of House

B. Closing Costs and Prepaid Amounts

2. Medical Bills/Hardship

3. Credit Counseling

4. Points (Buy down Assistance)

5. MIP

Sub-Total of B (Add B,2,3,4,5)

C. Total House Purchase Costs (Add A and B Sub-Total)

Financing

D. Bank Loan Approval _______% (

)

including MIP

E. Borrower paid fees - personal funds

(

)

only include earnest money, due diligence fee and POC’s.

F. Lender Costs/Seller Paid Costs

G. Gifts/Grants/Additional Loans

(Please list. Does not include HC Loan)

H. Sub-Total Financing

(Add D-G)

I. Gap (Subtract H from C)

(Funds requested by Lender will be applied to down payment, closing costs, interest buy-down)

(City use - do not write in this section)

The “Gap” is equal to the subtraction of the sub-total financing (H) from the total house purchase (C).

City down payment assistance under House Charlotte Programs 1-A and 1-B – up to $7,500 and

Program 2 - up to $10,000 in specialized neighborhoods. The Police Officer Program is up to

$10,000 or up to $15,000 depending on the eligible neighborhood.

If there are any questions on the completion of this form, please call HouseCharlotte at 704-705-3999 or

email us at . Submit completed forms and related documents to

HouseCharlotte/The Housing Partnership via SharePoint or to 4601 Charlotte Park Drive, Suite 350

Charlotte, NC 28217

Assistance Loan Submission Page 3