Click here to see HOPE's most recent Real Estate Guide ad.
HOPE's Homeownership Program provides a variety of assistance to individuals and families who are interested in owning a home. Housing, credit and budget counseling are key components of the program to adequately prepare clients for making the step to homeownership. Click here for more information on HOPE's housing counseling services.
HOPE also offers a wide-range of mortgage options for any potential buyer, including previous homeowners. Affordable loan packages are available through our lending partners for lower income families as well as buyers who need financing for existing homes, new homes or manufactured homes. HOPE also provides affordable housing solutions through the planned development of new home communities.
HOPE is an affiliate of JustChoice Lending, which now offers a special mortgage product exclusively for homebuyers in Central Appalachia. Rural Housing 502 Direct Loans are funded by the federal government and mortgage payments are based on the household's adjusted income. Getting a 502 loan provides an opportunity to own your home and build equity for the future. Financing options are available for clients with fixed incomes, those who are self-employed, and the working class. A 502 can offer:
JustChoice Lending is backed by the Federation of Appalachian Housing Enterprises (FAHE), a regional network of nonprofit housing providers that is a Certified Fair and Safe mortgage lender with more than 25 years of lending experience. Click here to learn more about this mortgage product.
HOPE's Deerfield community is an innovative and environmentally friendly subdivision in Wytheville developed through a combination of federal, state, and private funding. Deerfield provides buyers with modular or site-built floor plans.
Affordable financing is available, with monthly payments of principal and interest designed to be 25% of your gross monthly income. These homes are a wonderful opportunity for families with average to good credit and annual incomes under 65% of the area's median income. In Wythe County, that ranges from $28,437 for a family of two, to $35,555 for a family of four, and $41,235 for a family of six. In some instances, up to 80% of the area's median income is eligible, which equals $43,760 for a family of four.
Phase I of the Deerfield community consisting of 18 lots is sold out. Phase II is under development and has 4 lots available. Click here to see the plat of Phase II (pdf).
HOPE also has a planned community under development in Fort Chiswell called Long Meadows. That community has 23 lots available. Click here to see the plat of Long Meadows (pdf).
The I'M HOME program offers many financing options for any buyer, including previous homeowners, to purchase existing, new or manufactured homes. Many of these options offer higher income level qualifications and are not limited to HOPE-developed properties. Click here to read Manufacturing Housing's Top 10 Truths (pdf).
Click here to see floor plans and spec sheets for new manufactured homes offered through HOPE.
Click here to learn how HOPE's I'M HOME partner, Frontier Housing, plans to replace pre-1976 mobile homes with new energy efficient manufactured homes through pending legislation that would offer $7,500 rebates to purchasers (pdf).
Click here for the U.S. Department of Housing and Urban Development's (HUD) Common Questions from First-time Homebuyers.
Deerfield Update, Summer 2010 (pdf)
For more information about HOPE's Homeownership Program, call
Kathi Mineer at
228-6280 or toll free 877-818-8680, Ext. 213, or email