First-time Homebuyers

About the Program

The First-time Homebuyer Program offers homeowner education classes, credit report reviews and housing counseling to assist County residents and local workforce in purchasing safe, decent, affordable housing. The program also assists qualified buyers with down payment and closing cost assistance and in designated areas offers low-interest rate financing. HRPDC HOME down payment assistance funds are available to assist with purchases of homes throughout the County. The Community Homeownership Revitalization funds are available to purchase attached and detached single-family homes in Ironbound Square, Liberty Crossing and Villages at Candle Station. The Community Homeownership Revitalization Program sets aside funds for permanent financing with an interest rate 0.5% below VHDA's prevailing rate at the time the lender locks in the loan.

These programs have eligibility requirements, including but not limited to:
  • You may not have owned a home in the last 3 years
  • You must have stable income that is sufficient to afford the mortgage payment
  • Your household income may not exceed specified limits
  • You should have a credit score of 620 or higher and a credit report should not show unpaid collections or past due accounts
  • You will be required to pay $3,000 toward the downpayment and closing costs
Close up of one person handing keys to another person