The HOME Down Payment and Closing Cost Program provides closing cost and/or down payment assistance to qualified first-time home buyers, who desire to purchase a new or existing home in York County, Virginia.
Must be a first-time home buyer
Not have owned a home within three (3) years
Purchases in York County, Virginia
Certificate of completion from VHDA approved First-Time Home buyer Education Class
Household income does not exceed 80% of the area median income limit-based on household size
Property must pass a qualified-whole house inspection and local codes
Maximum Household / Income:
Loan Terms of Assistance:
Down Payment and Closing Cost loan is up to $10,000
Buyer contribution is 1% of sales price
A Promissory Note must be signed for the grant amount
The homeowner reserves the right to repay, without a premium fee
If the homeowner sells, transfers, leases, deeds or conveys all or part of the property or any interest within five (5) years from the date of closing, then the note is in default
If after five (5) years, default has not occurred, the homeowner shall be under no obligation to repay any sums due and the note shall be cancelled.
For more information, please contact the York County Housing Office at (757) 890-3885 or firstname.lastname@example.org