Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Housing and Community Development
Guidance Document Information
Title HOMEownership Down Payment & Closing Assistance Program Guidelines
Document ID 5901
Summary The HOMEownership Down Payment & Closing Cost Assistance Program operates through local partnerships with governmental entities, non-profit housing service providers, and mortgage lenders across the Commonwealth. DHCD is seeking to competitively maintain a regional network of grant administrators who offer housing counseling and pre-qualification screening for eligibility on a first-come, first-served basis to address all regions of the state targeting first-time homebuyers with incomes at or below 80% of the Area Median Income (AMI) as established by the U.S. Department of Housing and Urban Development (HUD). The program structure must promote equitable access to HOME funds by both entitlement and non-entitlement communities based on income and credit criteria. The assistance is offered as a forgivable loan to eligible homebuyers.
Latest Revision 10/1/2017
pdf View document text     Posted On 12/8/2017                 Document on Town Hall

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