Richmond Employee Homebuyers

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Richmond Employee Homebuyer Assistance Program

The City of Richmond homebuyer downpayment assistance program is offered to employees of City of Richmond to purchase within the limits of the City of Richmond. To qualify for this program, you must:

  • Be a full-time  City of Richmond Employee
  • Be a first-time home buyer (or must not have owned a home in the last 3 years)
  • Have 12 months of continuous full-time permanent employment
  • Have a performance appraisal in good standing.

 

Income Requirements

To participate in Richmond Employee Homebuyer Assistance Program and qualify for downpayment assistance, applicant(s) purchasing the home must have a combined annual household income under the maximum income limits in the chart below.

Maximum Gross Household Income Sales Price/Loan Limit
New & Existing Construction
$175,000 $550,000

Virginia Housing’s income limits for Richmond area.

HOME’s Steps to Homeownership.

If you qualify, follow the steps below:

  1. Complete the HOME workshop.
  2. Complete Survey Monkey, acknowledging additional program requirements.
  3. Complete HR eligibility letter, which will include the application link.
  4. Submit an Application. Fill out the information below, then proceed to the online application. Allow up to 10 business days for us to process your application.
  5. Once your application is accepted, complete HOME’s homebuyer education course.
  6. Complete your intake. Once your homebuyer education is completed, specific documents will be requested and must be received prior to scheduling an intake appointment.
  7. Meet your counselor. Schedule your housing counseling appointment. During the appointment you will discuss your financial situation, what you will need to do to become fully ready to purchase a home, and how much of a mortgage loan your budget can accommodate. Also, how to access down payment and closing cost financial assistance.
  8. Get your affairs in order. Establish and follow a spending plan, save money, and meet with your counselor for additional sessions.
  9. Find and buy your home. By this time you will know how to work with a real estate agent, what to look for, how to get a good mortgage, and what to expect at closing when you sign the loan documents and finalize the purchase of your home.
  10. Celebrate and enjoy your new home! Make sure you let us know how you are doing. We are here to help you past any bumps along the road!

    This program is ONLY for City of Richmond employees that have received an eligibility letter.
    To receive more information and to apply, please contact City of Richmond’s Human Resources Department at HRBenefits@rva.gov or (804) 646-4700.