• Cannot currently have their name on a deed nor owned a property within the past 3 years.
• Be pre-qualified by a lender approved by the Seller (see the Preferred Lender’s tab on the website).
• Complete Homeownership Education. www.HomeofVA.org www.VHDA.com
• Meet the income restrictions in the chart below:
To be considered a Qualifying First Time Buyer,
the following requirements must be met:
Eight homes have been reserved and priced as “affordable” homes for qualifying first time homebuyers. These buyers will receive down-payment assistance up to $15,000.
Qualifying First Time Buyers
Builder paid closing costs for qualifying market rate buyers.
Better Housing Coalition is offering up to $25,000 for closing costs and down payment assistance for homebuyers with incomes between 80%-110% of the Medium Income of the Richmond Area, see range below:
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2
3
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5
Household Size
Household Income
$56,500 - $80,550
$64,550 - $88,756
$72,600 - $99,825
$80,650 - $110,756
$87,100 - $119,763
