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).

HOME Program is forgiven after 5 years, so a homebuyer 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.

HOME Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Standard HUD HOME first-time exceptions. On credit, the program states: No published NRHA minimum; first-mortgage product overlay typically 620-640. A homebuyer education course is required, through NRHA Homeownership Center / HUD-approved homebuyer education provider; 8-hour pre-purchase course required. Residency requirement: Must occupy as primary residence; property in Norfolk. Citizenship or immigration status: U.S. citizen or qualified alien per HUD HOME. Property must be in the City of Norfolk. Borrower at or below 80% AMI for VA Beach-Norfolk-Newport News HUD MSA (Norfolk uses slightly different bracket than other Hampton Roads PJs - $55,450 / $104,550 range). 8-hour HUD-approved homebuyer education and one-on-one counseling required. Minimum $1,000 buyer contribution. HUD HQS inspection.

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.

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.

HOME Program names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, and homebuyers 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.

HOME Program serves homebuyers purchasing in Norfolk, Virginia.

Applications for HOME Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served via NRHA. 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.