Affordable Housing and Down Payment Assistance in Loudoun County

I think this is an incredible program and I'm sure that it is not limited to Loudoun County, VA. I also think other counties in VA offer this. LOW INCOME BUYERS CAN PURCHASE HOMES FOR 1/3 THE COST

I personally owned a home in Loudoun County. I purchased it for $325,000. The same house, next door, sold for $125,000. How? It was an ADU unit. This is a county-owned home sold by the county to a lower-income buyer. It helps buyers get into a nicer neighborhood for less. The builder I purchased from had to give up 1/3 of their homes to the county. Every third house on my street was an ADU.

Lower income renters can benefit too!

Here is more info:

Affordable Dwelling Unit Program

This program is designed to provide affordable rental and for-sale housing (homeownership opportunities). Services are available to all citizens with priority given to income eligible residents who live or work in the county. Household income must exceed 30% but be less than 70% of median income for the area.

Under the ADU Rental Program, 2 and 3 bedroom apartments are available for approximately $605-$895 per month for a 2 bedroom/1 bath unit and $688-$1,030 per month for a 3 bedroom/2 bath unit.

Under the Homebuyers Opportunity Sales Program, new townhouses and condominiums are available.

New homes and apartments are located throughout Loudoun County. To apply, call the Department of Family Services at 703-777-0353 (V/TTY) and ask to be pre-qualified for either the Rental or For-Sale Program.

Down Payment/Closing Cost Assistance Program (works well with FHA and Community Loans)

First-time homebuyers who want to purchase a new home through the Homebuyers Opportunity Program (HOP) or a re-sale/existing home can borrow up to $10,000 at 3% interest, to be used toward the down payment and closing costs. The loan is in the form of a second trust and is paid back over a ten (10) year period. The loan is limited to first-time homebuyers or those who have not owned a home within the last three years. Funding is limited and available on a first-come, first-serve basis. Please contact Family Services, 703-777-0353 (V/TTY), if you are interested in applying.