City of Danville Homeownership Assistance Program

City of Danville Homeownership Assistance Program is down payment assistance for homebuyers in Danville, Virginia, administered by City of Danville (Community Development), with counseling via DRHA Center for Housing Education. The City of Danville's Homeownership Assistance Program helps low- and moderate-income residents buy a home anywhere in the City by covering up to 50% of the lender-required down payment. The home must meet HOME Quality Standards per a City inspection, and all applicants must complete a First-Time Homebuyer counseling program at the DRHA Center for Housing Education. A separate municipal program from the Virginia DHCD/VHCDC statewide DPA that also serves Danville. Covers up to 50% of the lender-required down payment. Buy anywhere within the City of Danville. City-funded program with local counseling support. Funding comes from Federal funds (HOME/CDBG) administered by the City of Danville.

City of Danville Homeownership Assistance Program is down payment assistance and is repaid under the terms set by City of Danville (Community Development), with counseling via DRHA Center for Housing Education. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Danville Homeownership Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through First-Time Homebuyer counseling at DRHA Center for Housing Education, 502 Franklin Street, Danville. Residency requirement: Assists low/moderate-income residents to buy a home anywhere within the City of Danville.

City of Danville Homeownership Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Low- and moderate-income City residents (HOME <=80% AMI typical); specific dollar limits not published on the city page. The limit applies to total household income, not only the borrower&rsquo;s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Danville Homeownership Assistance Program serves homebuyers purchasing in Danville, Virginia.

Applications for City of Danville Homeownership Assistance Program go through City of Danville (Community Development), with counseling via DRHA Center for Housing Education, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.