Henrico Affordable Housing Trust Fund Homes
Newly built Henrico homes sold to first-time buyers at a reduced price, paid for by the county's Affordable Housing Trust Fund, with covenants that keep them affordable and owner-occupied.
- Run by
- Henrico County, administered by the Partnership for Housing Affordability (PHA)
- Serves
- Henrico County
- Last checked
Who it's for
- First-time buyers: you haven't owned your main home in the last three years, with some HUD-style exceptions
- Household income within the level a home is offered at. PHA's income table runs from 60% to 120% of area median income (for example, $90,800 is 80% for a household of four).
- PHA counts income from every adult earner in the household
What you get
- A newly built home at a price the county has lowered at closing
- Builders also get fee waivers and credits, which is how these homes reach a lower price
How to start
- Find a real estate agent.
- Get pre-approved with a lender to see what you can afford.
- Use PHA's AMI calculator to find your income level, then browse the homes listed for it.
- Contact the listing agent or builder about a home. You'll send income documents to your lender and PHA before signing a purchase agreement.
Good to know
- A recorded Declaration of Covenants keeps the price affordable and the home owner-occupied. Read it before you commit, so you know the resale and occupancy rules.
- It's only for specific new homes. You can't use it on any house you find.
See what else may fit
The free 2-minute check shows which assistance programs may match a home or area you're considering.
Similar programs
- Maggie Walker Community Land Trust Homes · Nonprofit community land trust
- Richmond Metropolitan Habitat for Humanity Homeownership · Nonprofit
Sources
Program rules, amounts and funding change often, and funds can run out. Confirm everything with Henrico County, administered by the Partnership for Housing Affordability before you rely on it. Martin Kurylowski and Real Broker, LLC are not affiliated with this program and are not lenders or administrators of any assistance program. You're free to work with any agent and any lender.