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Homebuyer Assistance Program
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Each dollar that a homebuyer saves will be matched by five dollars, with the limit that the maximum amount that will be awarded from this grant is $10,000. The homebuyer must have at least $500 to receive a match as cash payment for the purchase of a home. There is a five-year retention agreement that the homebuyer would need to sign. If they stay in the home for five years, the grant is forgiven. If they move before five years, a portion of the grant would need to be paid back. In order to check for a lender in your area who is participating in this program, go to the web site http://corp.fhlbatl.com. Click on “Community Programs” on the left side of the page, then on “First-time Homebuyer Program”. Then click on “Participating Members” on the right side. Scroll down until the listing for Virginia shows up. This list is updated periodically. |
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Web Privacy Policy ©Copyright 2008, Fairfax County, Virginia Last Modified: Tuesday, August 12, 2008 |
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