Finance On Property In Fairfax

State:
Multi-State
County:
Fairfax
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

In equity sharing both parties benefit from the relationship. Equity sharing, also known as housing equity partnership (HEP), gives a person the opportunity to purchase a home even if he cannot afford a mortgage on the whole of the current value. Often the remaining share is held by the house builder, property owner or a housing association. Both parties receive tax benefits. Another advantage is the return on investment for the investor, while for the occupier a home becomes readily available even when funds are insufficient.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

When are my real estate taxes due? Real estate taxes are due in two equal installments. The due dates are July 28 and December 5 each year.

The address of the Land Records Division is: Fairfax Circuit Court, 4110 Chain Bridge Road, Suite 317, Fairfax, VA 22030. The telephone number is 703/691-7320 (press 3, then 3). The office is open from a.m. – p.m. Monday through Friday.

Fairfax County provides real estate tax relief and car tax relief to citizens who are either 65 or older, or permanently and totally disabled, and meet the income and asset eligibility requirements. Qualified taxpayers may also be eligible for tax relief for renters.

Annual Income Limit Household SizeExtremely Low Income 30%Low Income 80% 1 $32,500.00 $68,500.00 2 $37,150.00 $78,250.00 3 $41,800.00 $88,050.00 4 $46,400.00 $97,800.004 more rows

Occupancy in Section 202 housing is open to any very low-income household comprised of at least one person who is at least 62 years old at the time of initial occupancy. Application: Applicants must submit an application in response to a Notice of Funding Availability (NOFA) posted on Grants.

Requirements Must be a first-time homebuyer (not owned a home in the last three years) You must earn at least $25,000 in annual income — plus, there's also an income cap depending on the number of people in your household. A minimum credit score of 620.

Fairfax County Residents: If you need assistance with emergency housing or rent assistance, call Coordinated Services Planning at 703-222-0880, TTY 711 Monday through Friday, 8 a.m. to p.m. For more information on the Emergency Rental Assistance program, visit our Eviction Prevention page.

The Supportive Shared Housing Program provides residential support and case management in a community setting. Fairfax County's Department of Housing and Community Development (HCD) and the CSB operate these designated long-term permanent subsidized units that are leased either by individuals or the CSB.

Since 1988, Virginia Supportive Housing (VSH) has developed and operated permanent supportive housing for chronically homeless adults. VSH's evidence-based model combines affordable housing with access to voluntary, wraparound support services.

The ADU Program is established to assist in the provision of affordable housing for persons of low and moderate income.

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Finance On Property In Fairfax