HOME Program

What is HOME Program?

HOME Program is a deferred second loan for homebuyers in Norfolk, Virginia.

• NRHA's HOME Program is a HUD HOME-funded forgivable second-lien DPA program for first-time homebuyers purchasing in the City of Norfolk.
• Norfolk Redevelopment & Housing Authority's HOME Program provides up to $20,000 in HUD HOME-funded down payment and closing cost assistance to first-time homebuyers purchasing in the City of Norfolk. Assistance is a 0% interest forgivable second-lien deferred over the 5-year HOME affordability period.
• Funding comes from HUD HOME Investment Partnerships Program (City of Norfolk PJ via NRHA).

Do you have to pay it back?

HOME Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, transfer, refinance with cash-out, or loss of owner-occupancy during affordability period and pro-rata forgiveness.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HOME Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

HOME Program limits household income to 80% of the area median income, which varies by county and household size.

• 80% AMI for VA Beach-Norfolk-Newport News HUD MSA, Norfolk-specific schedule; $55,450 (1-person) to $104,550 (8-person).
• 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?

HOME Program caps the purchase price as follows: HUD HOME max after-rehab value (HUD 203(b) Norfolk-VA Beach).

• Eligible property types include Single-family detached, townhomes, condos (must meet HUD HQS).
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

HOME Program names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native buyers, educators, law enforcement officers, firefighters, healthcare workers, and buyers with disabilities among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

HOME Program serves buyers purchasing in Norfolk, Virginia.

How do you apply?

Applications for HOME Program go through the administering agency, 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 NRHA Homeownership Center / HUD-approved homebuyer education provider; 8-hour pre-purchase course required.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-come, first-served via NRHA, 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.