Habitat for Humanity of Greater Charlottesville Homeownership Program

What is Habitat for Humanity of Greater Charlottesville Homeownership Program?

Habitat for Humanity of Greater Charlottesville Homeownership Program is a first mortgage for homebuyers in Charlottesville, Virginia, administered by Habitat for Humanity of Greater Charlottesville.

• Habitat for Humanity of Greater Charlottesville partners with qualifying low-income families to purchase a Habitat-built or rehabilitated 2/3/4-bedroom home with an affordable mortgage where the monthly payment is no more than 30% of gross monthly income. Homebuyers earn sweat equity by volunteering on construction sites and in ReStores, and by attending homebuyer education and financial coaching, in lieu of a traditional cash down payment. Habitat sells homes at no profit and does not require good credit at application.
• Affordable mortgage (payment capped at 30% of gross income).
• No traditional down payment required (sweat equity).
• Good credit not required at application.
• Homebuyer education and monthly financial coaching.
• Home sold at no profit by Habitat.
• Funding comes from Habitat for Humanity of Greater Charlottesville (volunteer labor, donations, no-profit home sale model).

Do you have to pay it back?

Habitat for Humanity of Greater Charlottesville Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Greater Charlottesville.

• Repayment is triggered by Habitat holds the affordable mortgage; sale or transfer triggers payoff per Habitat's mortgage and any resale/shared-appreciation provisions in the deed (specific resale formula not published).
• The assistance is recorded in First position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Habitat for Humanity of Greater Charlottesville Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Habitat for Humanity of Greater Charlottesville Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

• Household income (before taxes/deductions) at or below 60% of Charlottesville Area Median Income (2025), by household size (monthly): 1 person $4,405; 2 $5,035; 3 $5,665; 4 $6,290; 5 $6,795; 6 $7,300; 7 $7,800; 8 $8,305. 4-person annualized approx. $75,480. Income should fall between 25% and 60% AMI.
• The limit applies to total household income, not only the borrower’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.

What kind of home can it be used for?

Habitat for Humanity of Greater Charlottesville Homeownership Program caps the purchase price as follows: N/A - homes are built/rehabbed and sold by Habitat at no profit with an affordable mortgage.

• Eligible property types include Single Family.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Habitat for Humanity of Greater Charlottesville Homeownership Program serves buyers purchasing in Charlottesville, Virginia.

How do you apply?

Applications for Habitat for Humanity of Greater Charlottesville Homeownership Program go through Habitat for Humanity of Greater Charlottesville, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat for Humanity of Greater Charlottesville homebuyer education classes and monthly financial coaching meetings..

2. 2

   Contact Habitat for Humanity of Greater Charlottesville to reserve funds

   Funds are reserved through Cyclical application: Homeownership Interest Form, Application Information Meeting (AIM), AIM quiz, online application, financial interview, home pre-selection, Board approval., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.