We get calls all the time from folks asking ‘How can I get lending to buy a home?’ It doesn’t take a rocket scientist to see that getting approved to buy a home is NOT as easy as it used to be.
Even if you are a great, all-around-person with a good smile, nice teeth, perfect credit and 10% down - you are rolling the dice (next time mention that you are an impeccable dresser, too.)
A few obvious tips are: Pay off a few bills, eat beans & weenies instead of hitting the local watering hole every night of the week. Pay yourself that extra money you’ve saved. In a year you’ll have a nice downpayment.
For those of you that have lived within your means and are still a bit shy of the lending guidelines, Alexandria is the place for you. The City of Alexandria has just secured $15.2 Million for first time buyers. Call soon if you are serious – $15 Million ain’t what it used to be.
The new funding will be used in conjunction with the City’s Homeownership Assistance Program (HAP) and Moderate Income Homeownership Program (MIHP). The HAP Program assists lower-income households with annual incomes of up to $61,500 for a family of four, while the MIHP Program assists households with incomes of up to $99,000 for 3 or more family members.
“The reduced-interest financing provided by VHDA is a perfect complement to the City’s own homebuyer assistance efforts,” said Alexandria Mayor William D. Euille. “The City has a long history of helping first-time homebuyers and we are dedicated to making homeownership both achievable and affordable for low- and moderate-income City residents and workers.”
To be eligible to participate in the City’s homeownership programs, individuals must be first-time homebuyers, and the home to be purchased must be located within the City of Alexandria. Funds are limited, so interested individuals are encouraged to inquire immediately and to register for a mandatory, free homeownership training offered through the City’s Office of Housing. For more information, call the City of Alexandria’s Office of Housing at 703.8384622 or TDD: 703.838.5056.
Good luck. And, don’t be a stranger if you need any help finding some great listings.
Kevin Battle
Battle Real Estate
211 North Union St. Suite 100
Alexandria, VA 22314
703-915-1392
www.battlesales.com
Tags: Alexandria, First Time Buyer, Home Ownership Assistance, Virginia
