SCDHC Down Payment Assistance and Homebuyer Counseling
Homebuyer counseling and down payment assistance for first-time buyers in Richmond and Henrico, and a local way into the SPARC rate reduction.
- Run by
- Southside Community Development & Housing Corporation (SCDHC)
- Serves
- City of Richmond, Henrico County
- Phone
- (804) 231-4449
- Last checked
Who it's for
- First-time buyers purchasing in the City of Richmond or Henrico County
- SCDHC asks applicants whether their credit score is above 640, whether they have at least $2,000 in savings, and whether their income is at least $40,000 a year
What you get
- Pre-purchase counseling with a housing counselor
- Down payment assistance if you qualify
- Enrollment in SPARC, a state program that lowers the interest rate on eligible first-time buyer loans, through SCDHC's down payment assistance information workshop
- Credit reports reviewed with your counselor once you're enrolled (there's a fee for the report)
How to start
- Apply online through SCDHC's Homeownership Center. A counselor reviews your file and contacts you, usually within seven business days.
- For SPARC, register for and attend the down payment assistance information workshop. The application link comes at the end.
Good to know
- Assistance and SPARC funds are limited and can be committed elsewhere. Get written confirmation that funds are available for your file right before you sign a purchase contract.
- If you're below the screening thresholds, counseling is how you reach them.
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
- HOME of VA First-Time Homebuyer Program · Nonprofit, HUD-approved counseling agency
- City of Richmond Employee Homebuyer Assistance · Employer program
- VIDA Matched Savings (through SCDHC) · Nonprofit
- SCDHC Financial Opportunity Center · Nonprofit
Sources
Program rules, amounts and funding change often, and funds can run out. Confirm everything with Southside Community Development & Housing Corporation 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.