| |
|
Most of the important
things in the world have been accomplished by people who have
kept
on trying when there seemed to be no help
at all.
~ Dale Carnegie |
|
The VBCDC has provided homeownership opportunities in
the City of Virginia Beach since 1987 and has sold over one hundred twenty
homes
to low and moderate income first-time homebuyers.
Initially, the VBCDC’s homeownership program focused
on new construction in designated neighborhoods.
In1992, VBCDC began using the extensive inventory of FHA foreclosed
properties in Virginia Beach to provide affordable housing. VBCDC
purchased the properties at a significant discount from HUD,
rehabilitated the structures and provided below-market rate mortgages
to the new homeowners.
With the addition of grant funds from the U.S. Department of
Housing and Urban Development, VBCDC continues to purchase government-foreclosed
homes, extensively rehabilitate them, and sell them to qualified
first-time homebuyers.
VBCDC’s homeownership program works with special programs
of the Virginia Housing Development Authority (VHDA) and local
lenders to provide buyers with below market rate financing. In
addition, buyers receive down payment and closing cost assistance
through VBCDC, the City of Virginia Beach Department of Housing
and Neighborhood Preservation, or the State of Virginia. Buyers
also receive homeownership education and counseling before and
after they purchase a home through the program.
The seminars include:
 The
mortgage process
The role
and responsibility of homeownership
The
home inspection process
Homeownership Education
The VBCDC staff is trained and certified to teach these seminars
and requires that each of the VBCDC buyers complete the two-part
course.
Homeownership education seminars are conducted by VBCDC staff
and are held bi-monthly at the VBCDC office. The seminars provide
valuable information on the home purchase process for first-time
homebuyers. If you are interested in attending a class, please
contact VBCDC at 463-9516. Reservations are required as seating
is limited.
return to top |
|
|
