City of Norfolk Down Payment Assistance Program
$30,000.00 is available to qualifying first time buyers in the city of Norfolk! There are income limits (example; family of 4 - $54,550) that cannot be exceeded.
This is a forgiveable secured 2cd mortgage loan! There are no payments on this loan during it's life. It depreciates over a 10 year period at the rate of $3,000.00 per year and vanishes at the end. All you need to do is stay in the home 10 years and make your standard mortgage payment. Should you need to move out before the end of 10 years, the amount owed is the balance remaining at that time, not the whole $30,000.00.
There are certain qualifications that must be met in order to qualify and obtain the assistance. For further information, please contact me, Preston Mangum 582-1450.
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.