You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance is a forgivable loan for homebuyers in Williamsburg; Poquoson, Virginia, administered by Hampton Roads Planning District Commission (HRPDC), Housing & Human Services. The Hampton Roads Loan Fund Partnership ('You're HOME Hampton Roads'), administered by HRPDC using HUD HOME funds via Virginia DHCD, provides eligible first-time buyers a forgivable, no-interest soft-second of 10% of the sales price up to $14,500 when buying in James City County, York County, Gloucester County, Poquoson, or Williamsburg. Fully forgiven after a 5-year affordability period. Forgivable second-mortgage grant of 10% of price up to $14,500. 0% interest, no payments. fully forgiven after 5 years. Funding comes from HUD HOME funds via Virginia DHCD.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance offers up to $14,500 in assistance. The program asks homebuyers to contribute 1% of sales price from buyer's own funds (documented buyer-paid expenses may count). Amounts are the program's published maximums, not an offer — Hampton Roads Planning District Commission (HRPDC), Housing & Human Services determines any individual award.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, lease, deed, or conveyance of all/part of the property or any interest within 5 years of closing places the note in default; after 5 years the note is cancelled. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: false. A homebuyer education course is required, through Virginia Housing Homeownership Program first-time homebuyer education (in-person; certificate required). Residency requirement: Purchase and occupy as primary residence in James City County, York County, Gloucester County, Poquoson, or Williamsburg. Citizenship or immigration status: U.S. citizen or legal resident. Bankruptcy discharged 3+ years. Buyer must be pre-approved by a Virginia Housing-approved lender and receive a DPA certification letter before ratifying a contract. Promissory note signed for the grant amount.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance limits household income to 80% of the area median income, which varies by county and household size. Household income may not exceed 80% AMI by size (Rev. 05/2026 flyer: 4-person $86,150; 1-person $60,350; 8-person $113,750). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance can be used for Single Family, Condo, Manufactured, and New Construction. New construction is eligible. Manufactured homes are eligible.

You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance serves homebuyers purchasing in Williamsburg; Poquoson, Virginia. The program targets specific areas: Targets neighborhoods/populations historically underserved by mortgage lenders; recipients are first-time buyers, ~2/3 racial minorities, ~half female-headed single-parent families.

Applications for You're HOME Hampton Roads - Hampton Roads Loan Fund Partnership (HRLFP) Down Payment & Closing Cost Assistance go through Hampton Roads Planning District Commission (HRPDC), Housing & Human Services, 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.