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The Urban Homesteading Homeownership Program

The Richmond Redevelopment and Housing Authority's Urban Homesteading Program enables low- and moderate-income families to achieve homeownership, allowing eligible families to purchase deteriorated homes for $1 and the rehabilitation construction cost.

Homesteaders agree to live in restored houses for at least five years. RRHA provides credit counseling and creates financing packages that fit the budget of each homesteading family. In addition, during rehabilitation, RRHA works with homesteading families to ensure that improvements meet building codes and conservation standards.

Houses available through Urban Homesteading are valued up to approximately $150,000 and up after rehabilitation. Houses of various sizes are available and located throughout the city of Richmond, in neighborhoods targeted for revitalization.

To purchase an Urban Homesteading house, a family (consisting of at least one steadily employed person who is 21 years old or older) must have good credit, no judgments and qualify for a low-interest loan. The family must also be a first-time homebuyer and own no other real property, unless the family is being relocated from property RRHA acquired in a redevelopment or conservation area. The program is available to families outside Richmond and Virginia.

Program guidelines prescribe minimum and maximum incomes. Combined gross family income must be at least $35,000 - $40,000 per year. According to guidelines established by HUD (the U.S. Department of Housing and Urban Development), the homesteading family can earn no more than 80% of the median family income (based on family size).

For more information, call (804) 780-4731.

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