$7,500 Home Buying Grant Program for Henrico County, Va

$7,500 Home Buying Grant Program for Henrico County, Va

$7,500 Home Buying Grant Program for Henrico County, Virginia.

The Marcus & Tonya Rice Team has just received word from a approved lender for this program just released on April 19, 2010, there are funds still availible. This southern bank participates with approved lenders to offer First Time Home Buyer Grants to purchase properties. This money can be used for down payment and closing costs. Here are some of the highlights of the program:

1.       Available to first time home buyers only (have not owned a home for 3 years)

2.       Owner occupied properties only

3.       Income restrictions- 80% of Area Median Income

4.       Homebuyer counseling required ( No fee to buyer)

5.       Buyer must have $500 into the transaction

6.       The funds available are a 5:1 match. For every $1 the buyer puts into the transaction the bank puts       up $5. Up to a maximum of $7,500. A borrower who puts $1,000 can get $5,000 from the grant program.

7.       Not restricted by location of property

8.       Location include:  Richmond, Va, Henrico County, Chesterfield County, Powhatan County, Hanover   County, Petersburg, Colonial Heights, and Fort Lee Homes and Real Estate for sale.

9.       Condominiums, Townhomes, Single family detached are all allowed and can be used with any type of financing including FHA and the 203K loans.

10.      Districts/Areas that are availible for grant: Chamberlayne, Dumbarton, East Highland Park, Glen Allen, Highland Springs, Lakeside, Laurel, Montrose, Short Pump, Tuckahoe, Wyndham, Sandston, Varina, Westhampton.

Thanks to my lender for providing me this information: Please call or email the Marcus Rice Team for more information.

We represent home buyers and sellers as their exclusive agents in Richmond, Va, Henrico County, Chesterfield County, Powhatan County, Hanover County, Petersburg, Colonial Heights, and with Fort Lee Military Relocation.

"Service you deserve, a team you can trust"

The Marcus & Tonya Rice