Fairfax County’s First-Time Homebuyer (FTHB) Program offers homeownership opportunities for low- and moderate-income households purchasing homes in Fairfax County. The first step in that process is to complete the First-Time Homebuyer Orientation course. The next FTHB Orientation is scheduled for Tuesday, November 17, 2020, at 7 p.m. Due to the COVID-19 pandemic, this session will be hosted as a LIVE EVENT on Microsoft Teams. The meeting can be accessed HERE. Participants will have the option of downloading the Windows App or using their Web Browser to view the presentation. If desired, you may CLICK HERE to download the FREE Microsoft Teams app in advance. It is highly recommended that participants log on to the meeting no later than 6:40 p.m. to ensure that technical issues can be addressed prior to the beginning of the presentation. The meeting will begin promptly at 7 p.m. and participants must attend the full session to receive credit for the course. What is the First-Time Homebuyers Program? Under the leadership of the Fairfax County Redevelopment and Housing Authority (FCRHA), the First-Time Homebuyers (FTHB) Program has been providing affordable for-sale homes for over forty years. Homes are offered at sale prices well below the sales price of other homes in the same development. Through homeownership, families are able to establish roots in communities where they work and their children go to school, while also building equity in their home. Mortgages on FTHB homes are often significantly lower than the rents families were paying. FTHB homes are made available primarily through the Affordable Dwelling Unit provision of the Zoning Ordinance. As a result, the FTHB program provides affordable homes without the use of taxpayer funds. FTHB Program purchasers may also be eligible for down payment assistance through the program. Hundreds of affordably priced 1-, 2-, 3-, and 4-bedroom townhouses and condominiums located throughout the county have been sold to first-time homebuyers who meet the program’s income and eligibility criteria. Families earning up to 70 percent of the federal Area Median Income (AMI) may be eligible for the FTHB program. The newer Workforce Dwelling Unit program serves incomes up to 120 percent of AMI. Who is Eligible for Homeownership Opportunities?
First-time homebuyers and individuals who have not owned a home in three years. Certain exceptions apply, including for individuals or households buying in an age-restricted community.
Households with at least $25,000 in income and not more than the maximum income limits for the particular unit.
Households with conditional lender approval; meaning a lender has tentatively approved the home loan application under certain conditions. Households with potential buyers having a credit score of 620 and above.
Please see the complete list of underwriting and eligibility requirements on the Fairfax County website.