|
SHARP PROGRAM SUMMARY SHEET
<br />Program
<br />SHIP
<br />ARP - Applicants with SHIP funds
<br />"SHARP" Program Total
<br />Combined SHIP + ARP Ca
<br />Rehabilitation
<br />10 year deferred payment loan
<br />SHIP Loan + ARP Grant
<br />Assistance
<br />3% Simple Interest
<br />Program*
<br />Up to $60,000 VLI, LI
<br />Up to $30,000 ARP grant
<br />$90,000 VLI, LI
<br />Purchase
<br />20 year deferred payment loan
<br />SHIP Loan + ARP Grant = Only amount
<br />Assistance
<br />Purchase, 10 year deferred
<br />required for GAP Financing and closing costs,
<br />Program with
<br />payment loan Rehab
<br />after maximizing lenders V mortgage
<br />Rehab*
<br />3% Simple Interest
<br />$20,000.00 + $12,000.00
<br />-Up to $20,000 grant for purchase in
<br />$40,000 + $24,000 = $64,000 VLI
<br />(Rehab) VLI
<br />conjunction with SHIP - VLI
<br />-Up to $12,000 grant for rehab ih conjunction
<br />with SHIP - VLI
<br />$15,000.00 + $11,500.00
<br />-Up to $15,000 grant for purchase in
<br />$30,000 + $23,000 = $53,000 LI
<br />(Rehab) LI
<br />conjunction with SHIP - LI
<br />-Up to $11,500 grant for rehab in conjunction
<br />with SHIP - LI
<br />$10,000.00 + $11,000.00
<br />-Up to $10,000 grant for purchase in
<br />$20,000 + $22,000 = $42,000 MI
<br />(Rehab) MI
<br />conjunction with SHIP - MI
<br />-Up to $11,000 grant for rehab in conjunction
<br />with SHIP - MI
<br />Purchase
<br />20 year deferred payment loan
<br />SHIP Loan - ARP Grant
<br />Assistance
<br />(3% Simple Interest)
<br />Program
<br />without
<br />$20,000 VLI
<br />-$20,000 grant for purchase in conjunction
<br />$40,000 VLI
<br />Rehab*
<br />with SHIP- VLI
<br />$15,000 LI
<br />-$15,000 grant for purchase in conjunction
<br />$30,000 LI
<br />with SHIP- LI
<br />$10,000 MI
<br />- $10,000 grant for purchase in conjunction
<br />$20,000 MI
<br />with SHIP- MI
<br />Emergency
<br />Up to $25,000 VLI, LI, MI
<br />Up to $12,500 SHARP grant
<br />Up to $37,500
<br />Repair Loan
<br />Essential
<br />-Up to $10,000 additional grant funding could
<br />$10,000 VLI, LI, MI
<br />Employees
<br />potentially be added to a SHARP application
<br />(All SHARP
<br />submitted by an Essential Employee (teachers,
<br />Programs)
<br />first res onders, health care workers).
<br />ATTACHMENT 2
<br />126
<br />
|