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

For More Information: 

Jenn White jewhite@nrha.us 757.314.2009

For Immediate Release
Release Date: 
Mon, 06/09/2014

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.

An informational interview with the City of Norfolk’s Perspective TV show can also be found online at http://youtu.be/hWAacVQBGlA.

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.

Residences listed for sale on NRHA’s website can be found at http://www.nrha.us/homes-for-sale. The homes range in price from $179,900 to $295,000. 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.

About NRHA: 

Founded in 1940, NRHA is a national leader in community revitalization and fostering sustainable mixed-income communities. As the largest redevelopment and housing authority in Virginia, NRHA plays a key role in making Norfolk the city of choice to build, work, live and play.

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