As part of a larger City initiative to increase homeownership, HRHA coordinates the Harrisonburg Homebuyer Assistance Program to support low to moderate income families and individuals purchase homes in the City of Harrisonburg. Around 100 individuals and families applied for the program this year. For those not initially eligible, the program coordinator connects them with local resources to improve credit, learn more about the homebuying process, and increase their income. In 2021 alone, four families worked through the process and received down payment and closing cost assistance, with a fifth family set to close by end of year. The program provides a combined $10,000 in assistance as well as education and advocacy through the homebuying process. Down Payment funds are provided on a low interest loan through HRHA, while closing cost assistance is provided through CDBG funds through the City of Harrisonburg.
Initial program eligibility is determined based on income (between 50% and 80% AMI) and credit score (above 620). The program is open to first time homebuyers looking to purchase a home within Harrisonburg City limits under $250,000. Additional program information can be found on our website at: https://harrisonburgrha.com/home-ownership/
Congratulations to our 5 new homeowners of 2021!
“The Homebuyer Assistance Program was invaluable to us as first time homebuyers. It allowed us to make a larger down payment which should really help us out financially in the long term. The online course presented a lot of useful information and was user friendly, making it easy to understand all the new information that can otherwise be intimidating when it is your first time buying a home. We are so thankful that we had the opportunity to participate in this program and purchase our first home!”
Homebuyer Assistance Recipient July 2021
“Gracias al programa de Asistencia al Comprador de Vivienda, logré uno de mis sueños, que era tener mi casa. Un millón de gracias por su paciencia y trabajar con nosotros todos los días.”
“Thanks to the Homebuyer Assistance program, I achieved one of my dreams, which was to have my house. Thank you a million for your patience and working with us every day.”
Homebuyer Assistance Recipient October 2021