A Home Of Your Own
A Home of Your Own provides first-time buyers with an opportunity to become homeowners. We acquire foreclosed properties, renovate them using volunteer and skilled tradespeople, and sell the units to low- and moderate-income City residents and workers with greatly discounted and subsidized funding. In partnership with the City’s Office of Housing, we have provided affordable homes for more than 20 families.
To qualify for a purchase, homebuyers must have a gross annual income below 80% of the area median income.( one person up to $61,770, two people - $70,600 and three person households -$79,450). Eligible purchasers may receive a City shared equity loan of up to $50,000 through the City's Flexible Homeownership Assistance Program and may also be eligible for a matching closing cost grant of up to $4,000.
Units are eligible for reduced rate mortgage financing through the Virginia Housing Development Authority’s Community Homeownership Revitalization Program (CHRP) and are available to first-time homebuyers who live or work within the City of Alexandria and who have had no ownership interest in real property for the past three years.
For additional information regarding qualifying criteria, please call the Office of Housing at 703.746.4990 or visit the Office of Housing's webpage at www.alexandriava.gov/housing
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