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30th Anniversary Gala – April 12, 2018

Valley Community Development will be celebrating its 30th Anniversary on April 12th.  The Gala event will feature Charles M. Blow, a New York Times Op-Ed columnist, who writes about social justice, public opinion, and politics.  Mr. Blow is also the author of his 2014 memoir Fire Shut Up In My Bones. 

 

Annual Meeting – November 30th

Please join us for our annual meeting on November 30th, from 4:30 PM – 6 PM, at the Northampton Senior Center, 67 Conz St., Northampton. Refreshments will be provided.

RSVP to Julia Zegarra at jz@valleycdc.com or call 413.586.5855 x170

VALLEY COMMUNITY DEVELOPMENT CORPORATION COMMUNITY INVESTMENT TAX CREDIT (CITC) PROGRAM

Community Investment Tax Credit (CITC) Program

Valley Community Development has the opportunity to raise $400,000 during its 30th Anniversary year through CITC where donations of at least $1,000 receive a 50% Massachusetts tax credit; the credit is also a refundable credit.  We currently have approximately $125,000 in available credits through December 31, 2017. Click here for an example.

 

Non-CITC donations and donations after January 1st through June 30, 2018 are also welcome to support Valley’s 30th Anniversary.

 

We are seeking sponsors for our 30th Anniversary Gala which will be held April 12, 2018.  Click here for individual and corporate sponsorship information.

$50,000 Down Payment Assistance Available For Amherst!

Valley CDC would like to let our clients, friends, community partners and neighbors know about an exciting new program funded by the Town of Amherst to assist first time homebuyers to buy their first home in Amherst.

 

  • Schedule an appointment with the Homeownership Coordinator
  • Agree to all terms and conditions of the mortgage subsidy program
  • Have the ability to obtain a mortgage loan and pay closing costs
  • Attend a first time homebuyer workshop

 

Applications will be accepted until March 31, 2017.

 

Now is the time to meet with the Homeownership Coordinator to get ready to take advantage of this opportunity.  Qualified buyers will have the opportunity to shop for a home for a 90 day period beginning in April 2017 and enter into a purchase and sales agreement for a home or condo located in Amherst.

 

If you or anyone you know is thinking about buying a home, please pass along this information.  Thanks for helping us get the word out.

 

Income and eligibility restrictions apply.  For more information, please contact Donna Cabana, Homeownership Coordinator – 413.586.5855 x 180 or dc@valleycdc.com

$4,000 Grant Available

If you are looking to buy a house in Northampton, we have $4,000 Community Development Block Grants available, for use as down payment assistance. Please contact Donna Cabana at 413.586.5855 x180 or email her for an application at dc@valleycdc.com

Why Develop A Business Plan?

Planning Your Business #1: Why Develop a Business Plan?

business plan

Why should you develop a business plan?  While you know what you’re planning to do, writing a business plan provides you the opportunity to think and decide about how you’re going to make your business a success.  Developing three years financial projections enables you to determine that your business will generate the income you require or need.  Developing reasonable financial projections requires that you perform substantial market research to determine the level of interest in purchasing your products/services, and how much they will pay for them.

 

 

 

What About Credit Inquiries?

Q & A

 A Question From Our First Time Homebuyer Workshop

Question

I want to order my credit report but I’ve heard that credit inquiries lower your credit score. Is that correct?

 

Answer

Whether a credit inquiry affects your credit score depends on who’s asking. Requesting information on your own credit won’t affect your credit score and in fact, it’s strongly recommended.

Here’s how it works: When a business or individual asks about your credit, it’s called an “inquiry.” Credit inquiries are either “hard” inquiries” or “soft inquiries” and there’s an important difference:

  • Hard inquiries: A hard inquiry can lower your credit score. These happen when you apply for credit from a lender or other business and you authorize them to check your credit as part of the application process. Examples are applying for a mortgage, an auto loan, or a credit card.
  • Soft inquiries. Soft inquiries do not affect your credit score. Examples are when you request your own credit report, when a landlord checks your credit for an apartment rental, and when employers check your credit as part of a hiring process. Credit card companies may also perform soft credit inquiries by checking your credit without your knowledge or authorization. If you didn’t request the credit or authorize the credit check, then the company is performing a soft inquiry.

Recommendations

  • Don’t apply for new credit cards, store cards, auto loans, etc. when you’re shopping for a mortgage. These are all “hard inquiries”. The impact on your credit score varies but it can add up. Even if you only lose a few points, lenders will see the inquiries on your credit report and may be concerned about your intention to increase your debt while applying for a mortgage. (If you do create significant additional debt while applying for a mortgage, the added payments may have a negative impact on your eligibility for a loan.)

The only credit you should apply for when shopping for a mortgage is the mortgage itself!

  • Do check your own credit report and correct any errors. Instructions are included in the reports. Your credit is a major factor when you apply for a mortgage, so make sure all the information about your finances is correct.

The Fair Credit Reporting Act (FCRA) requires each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months to ensure that the information on all of your credit reports is correct and up to date.

We recommend www.annualcreditreport.com to order your free credit reports and if you wish, your credit scores (scores require a fee).

Learn more at www.annualcreditreport.com or visit www.consumer.ftc.gov/articles/0155-free-credit-reports and www.consumerfinance.gov/askcfpb/search?selected_facets=category_exact:credit-reporting

 

Fern Selesnick, Homeownership Education Coordinator

 

Get Involved

Valley CDC provides a variety of community economic development programs and services to low and moderate income residents of Northampton, Easthampton, Amherst and Hadley. To volunteer, join a committee or learn about becoming a Board member, please send us an email. Read More about “Get Involved”