WILLIAMSBURG — Habitat for Humanity Peninsula and Greater Williamsburg is accepting applications for its First-Time Homebuyer Program.
The local nonprofit organization started accepting applications on April 1, 2022, and will continue to do so until 4 p.m. on April 29, 2022.
Applicants to the program must be first-time homebuyers which means they cannot have owned a house within the past three years. Also, the applicant must live in Williamsburg, York County, James City County, Charles City County, Hampton, New Kent County, Newport News, or Poquoson.
The program helps local families purchase homes with a zero-interest equivalent 20- to 30-year mortgage with payments that are no more than 30 percent of the homebuyer’s income.
The payments include real estate taxes and homeowner insurance. Additionally, there is a “sweat equity” requirement. This requires that participating families provide at least 300 hours towards building their own and other families’ homes.
The families are selected based on need, income, credit history, agreement to complete sweat equity, and area of residency.
A completed application, which includes supporting documents and an application fee, may be dropped off in person at the Habitat administrative offices or mailed to Habitat for Humanity Peninsula and Greater Williamsburg, P.O. Box 1443, Newport News, Virginia, 23601.
More information on Habitat and its first-time homebuyer program can be found on its website.