Homeownership Program

The Waynesboro Redevelopment and Housing Authority’s proven multi-level homeownership program has been recognized both nationally and statewide with awards of merit for assisting low income families in achieving the “American Dream of Homeownership”. Educating potential homeowners in the responsibilities and benefits of homeownership is the foundation on which the Authority bases its success. The Virginia Housing Development Authority’s (VHDA) Homeownership Education Program is the model for the Authority’s educational curriculum, as well as certification. In addition, VHDA’s SPARC Program allows the Authority to offer below market rate permanent mortgage financing and Branch Banking and Trust Company provides construction financing.

The Authority’s commitment and obligation exceeds simple counseling. In response to a need for “new low cost housing”, the Authority builds homes specifically for low to moderate income first time homebuyers. Such homes are less costly, with higher efficiency ratings and less maintenance costs. A prime example is both the Sherwood Avenue and Albemarle Avenue projects. In FY 2003, the Authority sold eight (8) homes generating over $654,000.00 to perpetuate the program.