All Homeownership assistance programs may not exceed the income limits in the table below.

VHDA Homeownership Educational Program

Recognizing that educating potential homeowners is an important part of the home buying process, CRHA has Certified Trainers to teach this six-hour course. Information and instruction are provided to participants regarding budget preparation, loan application and approval process, property settlement procedures, home maintenance tips, fair housing and the obligations of homeownership. A completed monthly household spending plan is required prior to attendance of class (This usually takes about two hours; should accurately reflect your finances and spending habits; and facilitator will discuss the importance of creating and maintaining a spending plan.). Issuance of a “VHDA Homeownership Educational Program” certificate will be given upon completion of the class. The classes are available free of charge and are a requirement for all borrowers participating in CRHA homeownership programs.

Downpayment Assistance Program

The goal of this program is to assist lower income families and individuals to become homebuyers by providing affordable financial assistance for downpayment and/or reasonable closing cost. The primary lender notifies CRHA in writing of loan approval. Property must be inspected and meet HUD’s Minimum Property Standards and Lead-Based Paint regulations.

Borrower must contribute a minimum of 1% of the sales price of the home. The loan is deferred, and has no monthly payments, until such time as the borrower no longer owns the property or 30 years from the date of ownership, whichever occurs first. The interest rate on the loan is 3%.

VHDA Sponsoring Partnerships and Revitalizing Communities (SPARC)

This VHDA program which stands for Sponsoring Partnerships and Revitalizing Communities (SPARC) was designed to encourage partnerships, revitalize communities and create opportunities to address housing needs not currently met by the conventional programs. VHDA SPARC provides below market rate first mortgage financing.

Virginia Department of Housing and Community's Homeownershp
Downpayment Assistance Program

CRHA is a local administrator for this program, which is designed to operate through local partnerships with governmental entities, non-profit housing service providers, and mortgage lenders across the Commonwealth. Participation in this program is limited to credit-eligible homebuyers at or below 80% of the area median income. Funding is limited to down payment and closing cost assistance for purchasers up to a $10,000.00 maximum. No monthly repayment is required on this deferred payment loan. Funds will be forgiven over an affordability period and the homebuyer must contribute 1% of the sales price of the home from their personal funds or a minimum contribution of $500.

Community Development Housing Development (CHDO)

CHDOs are community-based non-profit organizations that have the development of affordable housing as one of their primary missions as well as low income representation on their boards. They may develop, own or sponsor homeowner or rental type housing. Successful applicants for the CHDO program will be required to provide performance measurement data.

Rental Rehab

Recruits and provides assistance to qualified owners of rental property to rehabilitate, acquire and/or construct rental properties to meet all local rental housing codes, rehabilitation and housing quality standards, building codes and other related ordinances. Deferred forgivable loans will be awarded through a competitive process. CRHA will actively recruit owners to provide accessibility features in their units to accommodate persons with disabilities was well as owners that accept Housing Choice Vouchers. Through this program a stock of decent, safe, and sanitary housing units available for low to moderate income renters will be increased. Successful applicants for the Rental Rehab program will be required to provide performance measurement data.