Virginia Housing
For Virginia Housing's FHA, VA and Conventional Bond Loan Programs, as long as the borrower's income qualifies for the grant, then the borrower will put down 1% of the sales price and then the grant will be up to 2-2.5% of the down payment. The grant is secured with a ratified contract and at the time the interest rate is locked.
City Grants
A variety of city organizations across Hampton Roads offers city grants for the purchase of a home. City grant amounts can total up to $60,000 in 2024, although they vary by participating city. Income limits apply.
Federal Home Loan Bank
The First-Time Homebuyer Product offers up to $12,500 to first-time homebuyers to assist with the down payment and closing costs incurred when buying a home. The Community Partners Product offers a home purchase assistance subsidy of up to $15,000 for educators, healthcare workers, firefighters and other first responders, veterans and active-duty members of the military or their surviving spouse who are purchasing a home.
Debbie O'Connell
Associate Broker, Licensed in VA & NC
Direct | 757.362.2961
Office | 757.769.7600
debbieoconnell@premiermove.com
4460 Corporation Lane Suite 130 | Virginia Beach, VA 23462
Michelle Phillips
Senior Mortgage Advisor
NMLS ID #257767
Direct | 757.679.9003
Office | 757366.8690
mphillips@tidewaterhomefunding.com
www.tidewaterhomefunding.com/michelle
For First-Time Homebuyer Product: Funding is available to qualified first-time homebuyers. First-Time Homebuyer Product is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Banks of Atlanta's Affordable Housing Program Implementation Plan at www.fhlbatl.com for complete product requirements. For Community Partners Product: Funding is available to qualified borrowers that meet product and income eligibility requirements and are first-time homebuyers or non-first-time homebuyers. Community Partners Product is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Bank of Atlanta's Affordable Housing Program Implementation Plan at www.fhlbatl.com for complete product requirements.
This is not a commitment to lend. All loans subject to program guidelines including credit and property approval. If refinancing an existing loan, the total finance charges may be higher over the life of the loan. Programs, rates, terms, and condition are subject to change without prior notice at the sole discretion of Tidewater Home Funding, LLC/ License in VA, NC & FL. NMLS ID #41552 (www.nmlsconsumeraccess.org). Corporate Office: (*757) 366-8690 | 1108 Eden Way N., Ste. A, Chesapeake, VA 23320. Toll-Free Phone: (888) 807-4834
