HOMEOWNERSHIP PROGRAMS 

Homeowner Seminar

Homeownership seminars are sponsored by HRHA and the Virginia Housing Development Authority (VHDA).  Seminars are held in two 3-hour sessions.  Topics include budgeting, credit, working with realtors, working with lenders and other important issues.  Seminars are bi-monthly and reservations are required.  Attendees who complete the seminar may be eligible for additional assistance. 

Single Family Regional Loan Fund (SFRL)

This program is sponsored by HRHA in partnership with Virginia Housing Development Authority (VHDA) and the Virginia Department of Housing and Community Development (DHCD).  Mortgage loans from the Single Family Regional Loan Fund offer a low, 30-year fixed interest rate to first-time homebuyers.  Additional funds may be available for down payment assistance to qualified borrowers.  Eligibility must be determined by HRHA before applicant is referred to an approved VHDA lender.

 Sponsoring Partnerships and Revitalizing Communities (SPARC)

This program is sponsored by HRHA in partnership with Virginia Housing Development Authority (VHDA).  Mortgage loans from the SPARC program offer a ½ to 1% discount off of VHDA’s already low interest rate for first-time homebuyers.  Additional funds may be available for down payment assistance to qualified borrowers.  Eligibility must be determined by HRHA before applicant is referred to an approved VHDA lender. 

Homes for Sale and the Homebuyer Subsidy

HRHA provides affordable housing to the residents of Hampton in the form of single family homes.  These homes are either newly constructed or rehabilitated and made available for sale.  When selling one of these homes, HRHA may provide down payment assistances to qualified buyers through its homebuyer subsidy.  This subsidy is structured as a deferred, no interest loan that covers a portion of the down payment and closing costs.  The maximum subsidy amount is $20,000 and the applicant must qualify based on income and other criteria. 

For further information about HRHA programs, please contact (757) 727-1111, option 6.