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1995 SESSION

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SB 769 Home-ownership assistance programs provided by certain localities.

Introduced by: Robert L. Calhoun | all patrons    ...    notes | add to my profiles

SUMMARY:

Home-ownership assistance programs provided by certain localities. Permits cities with a population over 100,000 to use the income guidelines established by the Virginia Housing Development Authority (VHDA) for its single-family mortgage subsidy program to determine eligibility for home-ownership assistance from local funds. Currently, such cities use federal income guidelines, which, in many cases, are too low to enable such cities to provide affordable home-ownership opportunities for persons with incomes up to VHDA's income-eligibility guidelines.


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