Housing Alexandria Homeownership Program
Thank you for your interest in Housing Alexandria’s Homeownership program. Housing Alexandria will offer 36 units of for-purchase, shared equity affordable homeownership townhomes and condos starting around 2025. Click here to see more about that development.
All buyers for this development will have to complete our homeownership education requirements, including meeting with a housing counselor, completing Virginia Housing Homebuyer Education programs, and attending a homeownership orientation hosted by Housing Alexandria starting in 2024.
Please read below for answers to the most commonly asked questions about our homeownership efforts. You can also find our first recorded webinar for this program (March 2022) online: click here to watch it on YouTube (Amharic | Spanish).
- To view our December 2023 program update news release and fill out our Readiness Survey, please click here.
- To learn more about Area Median Income and how it works, please click here.
- To explore Virginia Housing homeownership education, click here.
- To visit the three homeownership counselors we introduced in our introductory session, please click here:
Frequently Asked Questions:
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When will Housing Alexandria have homes available for purchase? Our first homeownership development has been approved; we are currently estimating that these units will be available for purchase in 2025. More details about this timeline will be available as construction continues.
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What do I need to do to purchase one of these units? Buyers will be restricted to households earning up to 80% of the Area Median Income. (This will be a “mathematical 80%” and not a “HUD 80%.”) Interested buyers will be required to complete homeownership education and financial counseling to be eligible to purchase a Seminary Road homeownership unit. Additional program and lending restrictions may apply.
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If I complete homebuyer education programs, am I only eligible for Housing Alexandria or affordable units? No. You can use these first-time homebuyer programs from Virginia Housing and the City of Alexandria for the purchase of any home, affordable or not. (If you want to receive information about affordable housing opportunities in Alexandria outside of Housing Alexandria, please add your name to the City’s Alexandria E-News lists.)
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How will these units be kept affordable over time? Housing Alexandria’s mission is to continually further housing affordability. Purchasers of these Housing Alexandria affordable homes will be required, if/when they sell, to sell them at an affordable price (given current market conditions) to a qualifying household in the low-to-moderate income bracket. This allows Housing Alexandria‘s interest in maintaining affordability to be preserved, while also allowing the purchaser to enjoy building equity and benefitting from any upside in the housing market. To learn more about this “shared equity model”, please visit the Grounded Solutions Network.
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What are the next steps? After adding your name to our interested homebuyers list, we will email you upcoming webinar and in-person opportunities to learn more about the City of Alexandria and Virginia Housing assistance programs. You can view our first webinar on YouTube. In the meanwhile, you explore their homeownership programs online:
