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First-Time Buyers Can Celebrate Homeownership Month with $30K Closing Cost Assistance

HomeNet Homeownership Center

June is “Homeownership Month” and the Home Investment Partnership Program administered by Norfolk Redevelopment & Housing Authority provides up to $30,000 in down payment and closing cost assistance to eligible first-time homebuyers that receive education and counseling through the HomeNet Homeownership Center.

The HomeNet program offers a range of services to first-time buyers who want to purchase a residence in Norfolk.
From credit counseling to closing, HomeNet’s demystifies the home-buying process and empowers participants to make informed decisions during the often complex home buying process.

The Virginia Individual Development Account (VIDA) is another resource for homebuyers in the HomeNet program. VIDA is a special savings account program for low-income households that triples participants’ savings to be used toward home ownership. VIDA matches $2 for every $1 homebuyers save in a VIDA account. Matching funds are limited to $4,000 per participant with a maximum of two participants per household.

There are currently 26 residences listed for sale on NRHA’s website at http://www.nrha.us/homes-for-sale. The homes range in price from $155,000 to $342,000. Each home was constructed by NRHA Builders and Designers Guild members. To learn more about the Guild and its quality standards in design and craftsmanship, visit http://www.nrha.us/content/builders-and-designers-guild.

For more information on HomeNet, visit http://www.nrha.us/own/homenet or call (757)314-4202.

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NOTICE OF NONDISCRIMINATION - NRHA provides equal housing and employment opportunities for all persons. NRHA does not discriminate against any applicant, resident or employee on the basis of disability, age, race, color, religion, gender, familial status or national origin in the admission, access or operations of programs, services or activities. An internal grievance procedure is available to resolve complaints. Qualified individuals who need communication aids, services or other accommodations to participate in programs and activities are invited to make your needs known to the 504/ADA Coordinator. Please give NRHA at least seven to ten days advance notice to meet your needs.