Homeownership Program

(formerly Mountain Shelter, Inc.)

Dedicated to improving the lives of people in our communities

Homeownership Program

HOPE's Homeownership Program provides a variety of assistance to individuals and families who are interested in owning a home. Housing and budget counseling are key components of the program to adequately prepare clients for making the step to homeownership. In addition, HOPE 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.

Click here for our homeownership flowchart that explains the process (pdf).

Certifications

	U.S. Department of Housing and Urban Development (HUD) approved housing counseling agency.
	Virginia Manufactured Housing Board licensed dealer.
	Virginia Manufactured and Modular Housing Association member in good standing

Counseling Services

	Pre-purchase counseling
	Pre-purchase homebuyer education
	Mortgage delinquency
	Home equity conversion mortgage (reverse mortgage)
	Loss mitigation
	Post-purchase counseling
	Money/debt counseling
	Fair housing assistance
	Homeless
	Asset/wealth building

Mortgage Options

	CONV, VA
	FHA (coming soon)
	USDA Rural Development - Direct and Guaranteed
	Brokered loans to trusted lenders
	FAHE in-house market rate loans
	VHDA, REACH, THDA, NewStart
	Grants for down payments
	Lease/purchase options

Planned Communities

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 comfortable 1,400 square foot homes with 3 bedrooms and 1-1/2 bathrooms. Built on masonry foundations with stick-built construction, these beautiful, energy efficient homes start at a reasonable $138,000.

Affordable financing is available, with monthly payments of principal and interest designed to be 20% of your monthly income. These homes are a wonderful opportunity for families with good credit and annual incomes under 60% of the area's median income. In Wythe County, that ranges from $23,520 for a family of two, to $29,400 for a family of four, and $34,080 for a family of six.

Other Programs

HOPE offers many other financing programs for any buyer, including previous homeowners, to purchase existing, new or manufactured homes. Many of these programs offer higher income level qualifications and are not limited to HOPE-developed properties.

Click here to see floor plans and spec sheets for new manufactured homes.

Our Partners

	Federation of Appalachian Housing Enterprises
	Innovations in Manufactured Homes
	Housing Assistance Council
	Virginia Department of Housing and Community Development
	Virginia Housing Development Authority
	United States Department of Agriculture Rural Development
	FHL Bank Atlanta Affordable Housing Program
	Southeast Rural Community Assistance Project
	Frontier Housing, Inc.