Affordable Homes in Henrico County – Your Path to Homeownership

🏡 Affordable Homes in Henrico County – Your Path to Homeownership

Unlock the Door to Your First Home

The Henrico Trust Fund, managed by the Partnership for Housing Affordability, offers below-market-rate homes to first-time buyers in Henrico County. These homes are crafted through development grants and incentives adopted by the Henrico County Board of Supervisors, ensuring affordability across all magisterial districts, including Brookland, Fairfield, Three Chopt, Tuckahoe, and Varina.

🌟 Why Choose a Henrico Trust Fund Home?

  • Affordable Pricing: Homes are offered at prices below market value, making homeownership more accessible.
  • Long-Term Affordability: Deed restrictions ensure homes remain affordable and owner-occupied for at least 10 years.
  • Diverse Options: A range of home sizes, types, and price points are available to suit different needs.

✅ Are You Eligible?

To qualify, you must:

  • Be a First-Time Homebuyer: Either never owned a home or not owned a primary residence in the past three years.
  • Meet Income Requirements: Your gross household income must fall below the maximum income limit for your household size.

For example, a two-person household at 80% AMI has an income limit of $72,650, while at 120% AMI, the limit is $109,000. These limits vary based on household size and are updated annually.

🛠️ Steps to Homeownership

  • Find a Realtor: Connect with a real estate professional experienced in affordable housing programs.
  • Get Preapproved: Work with a lender to determine your mortgage eligibility.
  • Calculate Your AMI: Use the AMI Calculator Tool to understand your income category.
  • Explore Listings: Browse available homes that fit your criteria.
  • Contact Sellers: Reach out to property listing agents or homebuilders to express interest.

📞 Need Assistance?

Our Housing Resource Line is here to help. Contact us at (804) 422-5061 or email info@pharva.com for guidance on the application process, finding a realtor, or understanding eligibility.