Well, I was going to post about the fact that we have the site up and running when all of a sudden I receive this e-mail. I figured that the buyers visiting our site, and the sellers hoping that buyers looking for Sterling VA homes for sale can find money to purchase their listing, would be more interested in this piece of news so, here it is –
Loudoun County offers financial assistance through the Downpayment/Closing Costs Assistance Program (DPCC) to first-time homebuyers. The program assists low-to moderate-income homebuyers purchase homes in the county.
Administered by the Loudoun County Department of Family Services, the program makes loans available to homebuyers with a total household income between $31,050 and $72,450. Applicants must currently live and/or work in the county for the most recent six (6) months. Standard eligibility requirements apply. Funds are limited and available on a first-come, first-served basis. Highlights of the program include:
• Loan amounts up to ten percent of the purchase price or $25,000, whichever is less
• 30-year loan
• Interest rate of five percent
• Principal and interest payments deferred for the first three years
• Monthly payments begin with the fourth year and are amortized over 27 years
• No pre-payment penalty
For more information about the program and application procedure, contact Karen Thorson, Loan Specialist, at 571-258-3814 or karen.thorson@loudoun.gov.
