PRE-APPLICATION PACKAGE
Note: We cannot process your Homeownership Application if required documentation is missing.
Qualifying individuals and families purchasing homes in Gwinnett County may be eligible for the Lawrenceville
Housing Corporation’s (LHC) Welcome Home! Program. This Program is funded by the HUD HOME Investment
Partnership Program (HOME).
How Can the Welcome Home! Program assist you?
The Welcome Home! Program offers mortgage assistance in the form of a 0% interest loan to qualifying
first-time homebuyers who purchase affordable homes in Gwinnett County. The amount of assistance is not preset
and depends on the purchase price of the home and the amount of rehabilitation work required to bring the
home up to code.
The program participant benefits by purchasing a house that is substantially rehabilitated. This process
ensures that the homeowners may not face costly home repairs during their first years of ownership. The
additional benefit is that LHC offers mortgage assistance. The mortgage assistance comes in the form of a
second soft loan that will be provided by Gwinnett County. The soft loan is interest free and is recaptured only
if the Gwinnett County’s five year affordability requirement is not met, or when the home is no longer
owner-occupied. No scheduled payments are required on the LHC Welcome Home! Program during the five year loan
period. If the homebuyer occupies the home purchased with HOME funds as their principal residence for at
least five years following the date of the home purchase, the loan is satisfied and no repayment to Gwinnett
County is required.
Who is eligible?
1. Applicants must be first time homebuyers including homebuyers who have not owned a home in the
past three years.
2. At the time of the application, gross household income CANNOT exceed program income limits:
3. Applicants who are credit worthy and can qualify for an FHA or VA fixed-rate mortgage.
4. Applicants who complete an 8-hour pre-purchase counseling class provided by any HUD-approved
Housing Counseling Agency and receive a Certificate of Completion.
5. Applicants who can contribute 1% of the home’s price or $1,000 (whichever is greater) as a
downpayment towards the purchase of the house. The downpayment will be required when the
house is identified and prior to the purchase and rehabilitation by LHC.
Which properties are eligible?
At the current time, only properties owned by LHC are available for this program. Please visit our website at
www.lawrencevilleha.org for a list of available homes.
What is the maximum purchase price?
The purchase price of a home receiving mortgage assistance cannot exceed $200,000. However, the amount
that each applicant can afford to spend on a home purchase will vary based on household income, mortgage
interest rates, and other variables at the time of purchase.
How do I apply?
The application involves (1) being placed on a pre-application waiting list and the submission of pre-application
documents; and (2) submission of a formal application that is taken, by appointment, at the LHC office.
WELCOME HOME! PROGRAM DOWNPAYMENT ASSISTANCE
PRE-APPLICATION PROCESS:
1. Complete an eight-hour (8) pre-purchase mortgage counseling class from a HUD-approved
housing counseling agency. Be sure to obtain a Certificate of Class Completion stating this was an
8-hour class. Click this link for a complete list of HUD-approved housing counseling agencies:
http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=ga
LHC has partnered with The Impact Group to provide counseling for its program participants. While
the homebuyers are encouraged to attend the classes offered by The Impact Group, home buyers are
free to choose from any agency listed on the HUD’s website above.
2. Meet with a mortgage lender. Before you can apply for Welcome Home! Program assistance, you
need a Loan Commitment Letter from a mortgage company showing the designated amount of
mortgage and fixed-interest rate terms to be financed (home mortgages must be FHA or VA fixed
loans). Ask your mortgage lender to also provide to you the single page from your credit report
showing the credit bureaus with your scores. This document is required as a support document.
Applicants should be aware that the Welcome Home! Program requires the use of Gwinnett County
closing attorneys who hold all closings in Gwinnett County.
3. Complete and sign the attached Pre-application checklist.
4. Fax: one copy, each, of the following to:
LHC, (770) 338-8447, Attention: LHC Welcome Home! Program
1. Certificate of class completion from a HUD-approved housing counseling agency
2. Loan Commitment Letter and three bureau Credit Report score sheet from mortgage lender,
3. The completed signed Pre-application checklist;
OR
WELCOME HOME! PROGRAM DOWNPAYMENT ASSISTANCE
PRE-APPLICATION CHECKLIST
Pre-Application Instructions: Please carefully read the information below, complete each item, and place
your initials in the space provided next to each response. Return the signed and completed Pre-Application
Checklist (This Page) to:
Lawrenceville Housing Corporation
502 Glenn Edge Drive
Suite B
Lawrenceville, Ga 30046
Email: [email protected]
Fax: 770-338-8447
APPLICANT(S) NAME: _______________________________________________________
Declarations
Yes
No
Initials
1. I/we are a first time homebuyer(s) or have not owned a home in 3 years. 2. I/we have completed an 8-hour pre-purchase counseling class conducted by a
HUD-approved Housing Counseling Agency.
3. I/we have total annual household income, from all persons in our household, equal to or less than the maximum income limits for the size of our household as listed on this page.
LHC Welcome Home! Program Maximum Income Limits Household Size Household Size
1 $37,150 5 $57,300 2 $42,450 6 $61,550 3 $47,750 7 $65,800 4 $53,050 8 70,050
Response Initials 4. Number of ALL persons living in your household.
5. Number of persons (age 18 and older) who earn income in your household. 6. Total yearly household income (from all persons age 18 and older).
Yes No Initials 7. I/We understand that I/we must apply for/receive approval for a loan to purchase
a new home from a mortgage lender; and, if the mortgage loan is not approved by the mortgage lender, assistance under the LHC Welcome Home! Program will not be approved.
8. I/We understand that we must put a down payment of 1% of the purchase price or $1,000 (whichever is greater) prior to LHC purchasing and rehabilitating the identified house. The down payment is NOT refundable if the homebuyer chooses to walk away from the property once LHC purchases it.
9. I/We have attached a Loan Commitment Letter from a mortgage lender. 10. I/We have attached a 3-bureau Credit Score Report from a mortgage lender. 11. Name of Mortgage Lender _________________________________________ 12. Loan Officer Name _______________________________________________ 13. Loan officer Phone and Email ______________________________________ 14. Realtor Name, Phone and Email ____________________________________ 15. I/We acknowledge that I/we must use a Gwinnett County Closing Attorney who will
Close the purchase in Gwinnett County.
Applicant Signature _____________________________________________ Applicant Printed Name _________________________________________ Co-Applicant Signature __________________________________________ Co-Applicant Printed Name _______________________________________ Current Address ________________________________________________ _____________________________________________________________ Email ________________________________________________________ Home Phone No _______________________________________________ Daytime Phone No _____________________________________________ Cell Phone No _________________________________________________
WHAT HAPPENS AFTER YOU SUBMIT YOUR PRE-APPLICATION?
Lawrenceville Housing Corporation 502 Glenn Edge Drive
Suite B
Lawrenceville, GA 30046
You will be given a formal application and a list of documents you need to bring to your appointment.
Appointments are scheduled on a first-come, first-served basis, after the applicant has notified LHC staff that all required documents have been gathered.
Upon completion of the appointment, LHC staff will obtain third-party verification of the documentation provided by homebuyers.
Once the application is complete and information verified, the homebuyer will receive a letter from LHC notifying them that they are eligible for LHC’s Welcome Home! Program assistance. Applicants will be ready to start looking for a home. After the applicant identifies a home, LHC staff will inspect the home to determine the amount of repairs needed. If the amount of required repairs is acceptable, LHC and the applicant will execute an agreement where the applicant commits to purchase the rehabilitated home from LHC and pays the downpayment/earnest money to LHC.
