Introducing a New Resource for First Time Homebuyers
The City of Alexandria and Rebuilding Together Alexandria have partnered to offer an exciting new program to assist low and moderate income first time homebuyers.
Modeled on the highly successful Neighborhood Stabilization Program (NSP), Rebuilding Together will purchase foreclosed or short sale properties, renovate them, and sell them to income eligible, qualifying homebuyers. By leveraging volunteer labor and funds through existing City home purchase programs, Rebuilding Together will be able to help 20-25 families buy homes across the City over the next few years.
To begin the process of qualifying to purchase a home through the program, participants must complete Rebuilding Together’s training program for first time homebuyers.
These monthly classes are being offered by Rebuilding Together at no cost to the participant. Acquired properties will be marketed, in order of priority, to:
- residents of assisted housing who are financially prepared to transition to homeownership
- other eligible low-income City residents and workers
- moderate-income City residents and workers.
Other eligibility requirements include, but are not limited to, the following:
- Applicants must not currently own a home or have an ownership interest in other real property.
- Applicants must have lived or worked within the corporate limits of the City of Alexandria for at least the most recent six months prior to application.
- Applicants must be U.S. citizens, permanent resident aliens, or possess a valid work permit and a Social Security card.
- Applicants’ net worth must be within the Virginia Housing Development Authority limits.
Interested buyers can find out more information about upcoming training classes by calling Rebuilding Together at 703.836.1021 or joining the online eNews at www.alexandriava.gov/eNews (Affordable Housing Opportunities subscription). Click here for information on current income eligibility limits.