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Income Requirements

HOME Program Eligibility Requirements

1. Must be a First-time Homebuyer* or not have owned a home within the past 3 years (see >First-time Homebuyer Definition).

2. Gross annual household income must be within 80 percent of the HUD Area Median Income Limit. The 2016-2017 HUD Income Limits effective June 1, 2016, for the region are as follows:

Household Size HUD Income Limit for the following cities and counties
Household Size Maximum Household
Chesapeake Poquoson 1 Person $39,500
Gloucester Portsmouth 2 Persons $45,150
Hampton Suffolk 3 Persons $50,800
Isle of Wight County Virginia Beach 4 Persons $56,400
James City County Williamsburg 5 Persons $60,950
Norfolk York County 6 Persons $65,450
Newport News   7 Persons $69,950
    8 Persons $74,450

 

Household Size HUD Income Limit for the following cities and counties
Household Size Maximum Household
Southampton 1 Person $31,300
Franklin 2 Persons $35,750
  3 Persons $40,200
  4 Persons $44,650
  5 Persons $48,250
  6 Persons $51,800
  7 Persons $55,400
  8 Persons $58,950

 

3. Must be able to qualify and be approved for a 1st Mortgage Loan by a VHDA-approved Lender. The Pre-approval must specify:

4. Borrower(s) must have a Certificate for completing an “in-person” VHDA Homeownership Educational Program Class. A schedule of classes throughout the region can be found at VHDA’s website. http://www.vhda.com

 

 

Contact Housing

Phone:
757.420.8300

Fax:
757.523.4881

Email:
sbethea@hrpdcva.gov

Hours:
8:00am to 4:30pm Monday - Friday

The Regional Building
723 Woodlake Drive
Chesapeake, VA 23320