CPHD
Opportunities For Home Buyers
Family Purchasing Home Arlington County Housing Division has $2.4 million in funds reserved for potential qualified homebuyers. BENEFITS
Qualified applicants should apply now! PROGRAMThe low interest residential mortgage program is a resource provided through the Virginia Housing and Development Authority (VHDA) Community Homeownership Revitalization Program. Since 2005, the Virginia Housing and Development Authority (VHDA) has provided more than $76 million in low interest mortgages to help 280 Arlington low- and moderate- income families to purchase their first home. Homebuyers utilizing the low interest residential mortgage funds have various mortgage financing options. In addition, a six-hour VHDA homeownership education course, foreclosure prevention counseling and mortgage lender and Realtor referrals are made available through the County’s non-profit partner Arlington Home Ownership Made Easier (AHOME). The program offers a credit and credit score workshop for those who want a better understanding of their credit as it relates to home purchase and other financial goals. Arlington Government and Public Schools employees who purchase a home in Arlington may also qualify for a forgivable loan of up to $5,200 through the County’s Live Near Your Work Program.
Arlington County Government sponsors Informational and Homeownership programs, special events and classes for first time buyers. The County also assists low- and moderate- income buyers through low interest mortgages, down payment assistance and the purchase of properties at affordable prices. The first two steps in applying for any of the following programs are essentially the same. Anyone wishing to use these programs must complete an assessment form and attend a class covering the basics of home ownership. The assessment form and a calendar of the classes can be found inside our First-Time Home Buyers Packet (English | Spanish) (PDF Format), the standard package of information about our programs that we routinely send out by mail. Most of the information on this website can also be found in the package. Moderate Income Purchase Assistance Program (MIPAP) MIPAP can provide first time buyers with up to 25% of the purchase price to assist with the down payment and closing costs. These funds are also allocated by lottery. VHDA-FHA Plus Mortgage ProgramIn this VHDA program, eligible applicants will receive a first trust mortgage, plus a second trust mortgage to assist in a down payment and closing costs associated with a home purchase. Also, eligible applicants only have to put up 1% of the purchase price from their own funds. In addition, VHDA provides below market mortgages to first time buyers throughout Virginia. The loan limit is $450,000. |
CONTACT US
For more information, contact:
- Doug Myrick, Homeownership Program Coordinator, 703-228-3786,
- Odalis Barrios, Housing Assistant (English and Spanish), 703-228-3793 or
- Helen Duong, CPHD Communications, 703-228-5027
