Down Payment Assistance Program

The City of Roanoke wants to help you obtain your dream of home ownership in the Star City. The City is providing funding for qualified participants on a first come, first served basis until funding is exhausted.

If you are a first time buyer, and you meet the eligible requirements provided in this program, this is a perfect opportunity to stop paying rent and own your own home.

For more details on the lead requirements and to find out more about the program contact one of the participating lenders below or email Brenda Thornton or call 540-853-6879.

What is Covered


These funds are available for up to 50% of the required down payment as determined by lender and applicable closing costs. This program offers a 5-year, forgivable loan from $1,000 to $8,000. The home purchased must be the home buyers primary residence and the buyer must contribute a minimum of $500 or 50% of required down payment as determined by the lender, whichever is greater. The maximum house purchase price for this program is $162,000, effective April 11, 2016.

If the home was built prior to 1978, the home will be required to pass a lead assessment inspection and/or clearance inspection to be funded. This program will cover the cost of one lead assessment and one clearance test only. All lead based paint repairs are the responsibility of the homebuyer or seller.

Participating Lenders:

     
Jamie Bailey Alcova Mortgage  jamie@alocovamortgage.com (540) 556-0994
Melvin Scales
Kelli Mowbray
Jonathan Sweat
Atlantic Bay Mortgage melvinscales@atlanticbay.com
kellimowbray@atlanticbay.com
jonathansweat@atlanticbay.com
(540) 404-1247
(540) 384-1892
(540) 444-5626
Lance Brenner
Cindy Machen
Hersel Lawson
Angela Gillespie
 Corridor Mortgage Group  LBrenner@Corridor Mortgage Group
CMachen@Corridormtg.com
Hlawson@Corridormtg.com
agillespie@Corridormtg.com
(540) 815-9162
(540) 797-9949
(540) 761-6271
(540) 556-8565
Allison Wolfe Freedom First FCU  awolf@freedom first.com (540) 527-2940
 Jason Bialek  Guarantee Rate Jason.Bialek@Rate.com (540) 915-8441
Tammie Aldridge Hometown Residential Mortgage taldridge@hometownbank.com (540) 278-1711
Valinda Hays Member One Federal Credit Union vhays@memberonefcu.com (540) 982-8811 x9167
Kent Blackburn
Rob Furrow
Integrity Home Mortgage kblackburn@ihmcloans.com
RFurrow@ihmcloans.com
(540) 815-9268
(540) 529-5772
Sarah Camper
Robin Jewell
Embrace Home Loans

scamper@embracehomeloans.com
rjewell@embracehomeloans.com
(540) 375-3190
(540) 375-3190 x 3708



Participating Real Estate Agents

     
 Berkshire Hathaway Candace Leftwich
Glenda Schaaff
Dena Balzano
(540) 293-1323
(540) 977-4456
(540) 204-3309
 Century 21 Gold Key, Realtors Amanda Miller (540) 345-5685
 Wainwright & Company Realtors Anastasia Thompson

(540) 397-3332

 Keller Williams Realty Amanda Walker (540) 761-4851
 Long & Foster Valerie Aplhin
Linda Trail
Leslie Williams
(540) 998-4046
(540) 977-1256
(540) 355-7120
 MKB Realtors
Hazel Williams
Kathy Bibb
Princess Moyer
Tim Thompson
(540) 989-4555
(540)293-2323
(540) 467-0064
(540) 353-7073
 Poe & Cronk Danielle Poe (540) 855-3657
 Rocky's Mom Realty, LLC Tammie Jo Ferguson  (540) 400-5980
 Sterling Realty Phyllis Johnson (540) 293-1347
 Wainwright & Company Pam Washington (540) 819-9860
 Wampler Realty, Inc. Joey Ingram
Kaye Nolen
(540) 797-1759
(540) 798-8047

2016 Maximums

Household Size
Maximum Income
1 $37,000
2 $42,250
3 $47,550
4 $52,800
5 $57,050
6 $61,250
7 $65,500
8 $69,700