FIRST TIME HOMEBUYER PROGRAM

2100 Middle Country Road ▪ Centereach ▪ New York ▪ 11720 CDCLI Housing Development Fund Corporation

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We Invest in Your DreamsSM

www.cdcli.org

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Required Documentation Checklist

Please submit copies only; these documents will not be returned.

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Completed application signed and dated where indicated

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Two months of most recent pay stubs for all household members 18 and older.

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Proof of additional income if stated on the application (child support, alimony support, disability, SSI, social security, etc.)

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The last three years of federal tax returns from 2012, 2013, and 2014 with W-2s / 1009s and any other supporting documents

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Notarized affidavit(s) if: 1) No child support received

2) Non-Working adult (18 years or older)

3) Full time/Part Time Student (18 years or older and not working)

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Proof of citizenship or legal residency: birth certificate or green card for each household member listed on the application

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Social security card for each household member listed on the application

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Three months of bank statements for checking, savings, 401(k), and IRA accounts.

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If self employed, an Audited Profit & Loss Statement for your business as prepared by a Certified Public Accountant

CDCLI Housing Development Fund Corporation 2100 Middle Country Road

Centereach, NY 11720

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Please check one:

Cypress Street, Wyandanch Harrison Street, North Amityville W. Bartlett Road, Middle Island

Please note: ONLY completed applications will be reviewed and processed

Print Clearly

Applicant Name: __________________________________________________________________ Address: _________________________________________________________________________ City: ______________________________ State: ________________ Zip Code: _______________ Home Phone: _____________ Work Phone: _______________ Cell Phone: _________________ Number of years at this address: _________

Applicant:

Are you a U.S. Citizen? Yes ____No ____ If no, are you a legal resident? _______

Co-Applicant:

Are you a U.S. Citizen? Yes ____No ____ If no, are you a legal resident? _____ YES answers require proof of legal alien status to be submitted.

HOUSEHOLD COMPOSITION: Please list all persons who live in the home. Full Legal Name Gender Date of

Birth Relationship to Head of Household

Social Security # Citizen/ Legal Resident

Head /Self

CREDIT CHECK AUTHORIZATION:For each household member 18 and older listed above, CDC of

Long Island will request a credit report. Signing below grants CDC of Long Island permission to request a credit report from a Consumer Reporting Agency, and will provide the agency’s information upon request.

______________________________________________ ______________________

Applicant Signature Date

_______________________________________________ ______________________ Signature of Household Member 18 and older Date

_______________________________________________ ______________________ Signature of Household Member 18 and older Date

_______________________________________________ ______________________ Signature of Household Member 18 and older Date

For Office Use Only

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INCOME AND EMPLOYMENT INFORMATION

Please fill out a separate form for each family member 18 and older.

Household Member Name: _______________________________________________________

Current Employer:

Name: _________________________________________________________________________ Address: ________________________________________________________________________ Date of Employment: ___________________Position held: _____________________________

If position held is less than 2 years:

Name: _________________________________________________________________________ Address: ________________________________________________________________________ Date of Employment: ___________________Position held: _____________________________

If you have a second job:

Name: _________________________________________________________________________ Address: ________________________________________________________________________ Date of Employment: ___________________Position held: _____________________________

Are you Self- Employed? Yes: ______ No: _______

If yes, provide annual gross income and net income: Gross $________ Net $________

Income Monthly Yearly

Wages (Primary job) Overtime

Commission Tips

Bonus

Wages (second job) Social Security Survivors Benefits SSI/SSDI Workers Compensation Disability Income Unemployment Severance Pension Retirement Alimony Child Support TANF

Other Income: Please Specify

I hereby certify that all information provided on this application is true and accurate to the best of my knowledge.

For Office Use Only

Net Worth = $_______

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ASSET AND DEBT INFORMATION

Please fill out a separate form for each family member 18 and older.

Household Member Name__________________________________________________ Have you ever owned a home?_________________ If yes, when?__________________

NON RETIREMENT ASSET INFORMATION

Savings Account Checking Account

Name of Institution: Name of Institution: Account #: Account #:

Balance: Balance:

Name of Institution: Name of Institution: Account #: Account #:

Balance: Balance:

LIST NAME, ACCOUNT #, AND BALANCE FOR ALL MUTUAL FUNDS, STOCKS, BONDS,CDS, ETC.

Name Account # Balance

Total Non Retirement Assets______________

RETIREMENT ASSET INFORMATION

Retirement funds, such as IRA (including Roth & SEP), 401(k), 403(b), Keogh, SIMPLE, etc.

Name of Institution Type of Account Account # Balance

Total Retirement Assets______________

DEBT

Lender Name Balance Due Minimum Monthly Payment Car Loan Student Loan Personal Loan Credit Card Credit Card Credit Card

*If additional space is needed, please attach separate page.

Total Debt _______________

I hereby certify that all information provided on this application is true and accurate to the best of my knowledge.

80% AREA MEDIAN INCOME (AMI) GUIDELINES 2015:

Family Size Maximum Income at 80% AMI

1 ... $ 61,040 _{5 ... $ 94,240} 2 ... $ 69,760 _{6 ... $ 101,200} 3 ... $ 78,480 _{7 ... $108,160} 4 ... $ 87,200 _{8 or more ... $115,120}

Maximum Income at 80% AMI Family Size

▪ Be a first time home buyer. (Must not have owned a home within the past 3 years) ▪ Agree to occupy the residence as their primary residence.

▪ Be income eligible: gross annual income does not exceed the income limits for the area listed below. Depending upon resources available for down payment, we expect the minimum income affordability to be in the $55,000 to $65,000 range.

▪ Have sufficient resources to cover required down payment and closing costs.

▪ Complete home buyer education at CDCLI and qualify to secure a mortgage from a regulated

financial institution, to cover the gap between subsidized and purchase price. Private mortgages are not acceptable.

▪ Comply with the asset policy as defined by the New York State Affordable Housing Corporation. Total assets cannot be more than 25% of the subsidized purchase price.

2100 Middle Country Road ▪ Centereach ▪ New York ▪ 11720 CDCLI Housing Development Fund Corporation

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● Download an application at www.cdcli.org, or call (631) 471-1215 x211 and have one sent to you.

● Submit a completed application. CDCLI will review application for completion and qualification, you will be notified.

● If application is approved, you will need to register for home buyer education class. The cost of the class is $50, or you can take the class on line for $99. Complete homebuyer education and attend a one-on-one session at CDCLI, and we will issue the Certificate of Completion.

● Obtain mortgage pre-approval, and submit a copy to CDCLI.

We Invest in Your DreamsSM