First-Time Homebuyer Grant Details
- First-time homebuyers of owner-occupied, primary residence only
- Homebuyer education class required – FREE local classes available
- Household income limitation applies (see limits below)
- Matching funds grant – for every $1 from the borrower, grant contributes $5 up to the $10,000 maximum grant
- Borrower investment must be at least $500 but not more than $10,000
- FHA or VA financing
- Must choose from a list of specified settlement agents
- Borrower must own and owner-occupy the property for 5 years or prorated repayment applies
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Income limits from 2008 median income (Richmond MSA)
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| 1 - person | 2 - person | 3 - person | 4 - person | 5 - person | 6 - person |
| $38,800 | $44,350 | $49,900 | $55,450 | $59,900 | $64,300 |
| 7 - person | 8 - person | ||||
| $68,750 | $73,200 | ||||
For more details about our first-time homebuyer program, please call:
Matoaca Branch - 804.590.9939
6300 River Road
Matoaca, VA 23803
At Matoaca, ask to speak with Beth Honea or Lorraine Lester.
Prince George Branch - 804.415.0157
4700 Owens Way
Prince George, VA 23875
At Prince George, ask to speak with Sean McElgunn.
