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Virginia Department of Housing and Community Development
DHCD partners with Virginia’s communities to develop their economic potential, regulates Virginia’s building and fire codes, provides training and certification for building officials, and invests more than $100 million each year into housing and community development projects throughout the state - the majority of which are designed to help low-to-moderate income citizens.
HOMEownership Down Payment Assistance Program
The three primary costs associated with the process of purchasing a home, down payments, closing costs (costs and fees that are part of receiving a home loan), and prepaid costs such as the establishment of an escrow account (for future payments of taxes and insurance), are sometimes the biggest hurdles toward homeownership that homebuyers face.The Virginia Department of Housing and Community Development assist homebuyers with these costs through funds from the federal HOME Partnership Investment Fund (HOME). The program offers down payment and closing cost assistance to individuals and families whose income is at or below 80 percent of the Area Median Income (AMI).
