VHDA Homebuyer Education Class

BUYING A HOME
What is the VHDA Homebuyer Education Class?

Hampton Redevelopment and Housing Authority (HRHA) and Virginia Housing and Development Authority (VHDA) are in partnership to provide a free class that is designed to teach you the steps involved in purchasing a home. Topics include understanding the effect of your credit, the loan process, working with a realtor, home inspection, and budgeting. This class is beneficial to any home buyer but is a requirement to purchase an HRHA home. Call 727-1111, ext. 312 or visit http://www.vhda.com/ for details.

Does HRHA have a program to help first time buyers purchase a home?

The SPARC program provides below market rate loans (interest rate reductions) for first time homebuyers. Interest rates are 1/2% to 1% below VHDA's published First-time Homebuyer Program rates. Income limits apply. Call your lender for details.

Does HRHA provide down payment and closing cost assistance?

Due to funding, HRHA can only offer down payment assistance in limited situations. There is assistance for those that qualify (income limits apply) and are buying a home that HRHA is selling or a home that is located in the Pasture Point or Olde Hampton neighborhoods. You will have to obtain the financing (mortgage) from a lender. In most cases, in order to obtain a loan you will need stable income, good credit and not too many debts.

How much down payment assistance can I get?

Assistance is provided on an as-needed basis and depends on the house you are buying and your specific financial situation.

Where are HRHA homes built?

Our homes are built in various neighborhoods throughout the city of Hampton and can be viewed on our website at http://www.hrha.org/ .

Why do you use income limits?

These limits are determined each year by the federal Department of Housing and Urban Development to ensure that homeownership funding goes to those who need it most.

What are the income limits?

Visit www.hrha.org/homesforsale.htm for current income limits. Income is based on all household members over 18 years old.

REHAB A HOME
Is there a program that can help with repairs to my home? HRHA has a home rehabilitation program for Hampton city residents that is based on household income and the equity in your home. You must also own and occupy the home as your principal residence. The goal of this program is to correct city code related issues. Call 727-1111, ext. 312 for details.

Does HRHA offer a grant to fix my home? No. Our rehab program only makes loans to cover the cost of rehabilitation. Some loans, do not have payments and, in some cases, are forgiven over a period of time.

What other programs are offered through the Community Development Department? We have a Wheelchair Ramp, Exterior Improvement and Emergency Grant program. Income limits and program guidelines apply. Call 727-1111, ext. 312 for details.

Homeownership Education Program

Need Real Answers About Homeownership?

Here's Your Starting Line.

Are you thinking about buying a home, but not sure where to start - especially in challenging economic times? VHDA's free First Time Homebuyer Class can help.

In one day of training, you'll learn the entire homebuying process from start to finish, and how to stay on track as a responsible homeowner. The class is offered in English or Spanish, in person or online. And it's free, with no obligation.

Personal Finances and Credit Reports

Role of the Lender

Working with your Real Estate Agent

Home Inspections

Closing your Mortgage Loan

Homebuyer Options

• Schedule of Homeownership Classes
• Online Classes
• Clases en español
• Household Spending Plan
• Contact Us

Please Note:
Although online classes are available, some loan programs - such as SPARC (Sponsoring Partnerships and Revitalizing Communities) and NSP (Neighborhood Stabilization Program) - require classroom training. Classroom training offers the added benefits of interactive discussion
with industry experts who can answer any questions and help you create a spending plan.

Be sure to contact the organization offering the loan program you are interested in to determine the specific homeownership education qualification requirements.

Ship's Cabin

We happened upon a good restaurant after the open house at East Beach. I had it in my mind that it would be a good time to finally try the Blue Crab, but it was closed, so as we drove up Ocean View Ave. toward our exit, we kept our eyes peeled and when we saw Ship's Cabin thought it was worth a try. It was! My friend said her NY Sirloin was really good. I ordered the Chesapeake Bay Burger - a very meaty burger topped with claw crabmeat. I ate less than half the burger. My attention was focused on the warm, crusty bread served with a plate of olive oil with a good sized mound of parmesan in the middle. I've never gotten into the idea of dipping bread into olive oil, but with the parmesan - oh my goodness! I truly made a meal off of it. We had to order a second plate of olive oil and parmesan. Carbolicious. But heart healthy. :-> And they have the most incredible homemade blue cheese dressing.

SEAFOOD ON THE BAY
GREAT FOOD MEETS GREAT ATMOSPHERE
The finest Gourmet Italian Cuisine along with the best and freshest seafood in the area. All our dishes are prepared to order and made from scratch. We offer something for everyone. We are a 9 time winner of "Best of Norfolk", and there's a reason why....come and see for yourself.
SHIP'S CABIN
4110 EAST OCEAN VIEW AVE., NORFOLK, VA 23518
757-362-0060 FAX: 757-362-0059