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Six Steps to
Home Ownership
1. You decide you want to
purchase a home instead of renting. Home ownership is not for everyone,
but a person with a very low income can own a modest home.
2. HOYO staff will provide home ownership counseling that includes
Personal Futures Planning about the responsibilities of home ownership.
3. HOYO staff will review your personal finances including income,
benefits, cash assets, outside financial support, expenses and debit
with you.
4. You select a home after answering the following questions: Where do
you want to live? Do you need to live near public transportation? What
do you want and need in a home.
5. HOYO staff will structure financing through the West Virginia Housing
Development Fund Home and Bond Money, US Department of Agriculture Rural
Development and/or bank Funds.
6. you decide on what ongoing housing supports you need. What level of
supports will be needed? What will change? who will provide supports? |
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HOYO
Program
Home Of Your Own
In 1997 West Virginia became part
of the National home of Your Own (HOYO)
Alliance. The Alliance was developed to
demonstrate that people with disabilities can
own their own homes and control their own lives.
Most people with disabilities have not been able
to own homes. HOYO's role is to leverage
federal, state and local monies to make housing
affordable for people with disabilities.
Since 1997, 50 West Virginians with disabilities
have purchased their own homes.
Home of Your Own requires that Participants
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Have a developmental disability
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Have a stable household income
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have access to $500 (personal
savings, family, friend or agency
contribution)
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Desire to own a home
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Have access to supports, if needed
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Are a first-time home buyer
The
West Virginia Initiative:
Personal Futures Planning and Home Ownership
West Virginia's Home of Your Own initiative uses
Personal Futures Planning to help you own your
own home. The process is simple. It starts with
your desire and needs. HOYO staff will schedule
a Personal Futures Planning session with you and
anyone else you and to attend. In this session,
you will discuss supports, budget, location,
type of house you want and what you can afford.
HOYO
Staff Will:
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Help you select a realtor
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Help you look for an affordable and
accessible home in the area you have chosen.
If
you are building a home, HOYO will help you:
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Find an architect
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Locate a building lot
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Work with the architect to design the home
you want and can afford
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Assist you with finding mortgage financing
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Help you with the loan closing process
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