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Down Payment Assistance Program Helps Make Housing Affordable in the New River Valley

Community Housing Partners (CHP) and the New River Valley Association of REALTORS (NRVAR) are pleased to announce a Down Payment Assistance Program created to help make homeownership more affordable for those who live and work in the New River Valley.  The program is being sponsored by a $50,000 grant awarded by The National Association of Realtors Ira Gribin Workforce Housing Grant Fund, which promotes safe, decent housing for people with low and moderate incomes who cannot afford to live in the communities where they work.  

Kamilia Lawson, CHP’s Director of Homeownership, described the opportunity, stating, “This  grant will create a sustainable program that helps working families achieve the goal of homeownership.”  The program will provide eligible families and individuals who are of low- to moderate- income levels, and who live and/or work in the communities served by the NRVAR, with up to $5,000 to be used towards down-payment and closing costs on the purchase of a home.  The amount of money awarded to each family will be determined by the family’s need, and will be awarded on a first-come-first-served basis.

CHP will facilitate the program, which in addition to providing financial assistance, will also offer homebuyer counseling and education services to all applicants to help insure the program creates successful homebuyers, as well as successful and sustainable homeowners.

To apply for or receive  more information about the NRVAR Down Payment Assistance Program, contact Terry Vaughn Homeownership Specialist, at 540.382.2002, ext. 3307 or tvaughn@chpc2.org.