Homebuyer Resources

The Office of Housing provides a range of services to homebuyers in partnership with the Virginia Housing and Development Authority.

Page updated on Sep 16, 2020 at 12:32 PM

Affordable For-Sale Units

To receive email alerts when affordable for-sale units become available, please sign up for the City’s eNews Affordable Housing Opportunities notices or contact us at 703.746.4990.

2020 Homeownership Assistance Income Limits    |    Participating Lenders List

Neighborhood Stabilization Program: Through this program, the City and its nonprofit partner, Rebuilding Together Alexandria, acquire and fully renovate distressed properties and offer these homes for sale to income-eligible, first-time homebuyers. The homes are available to homebuyers who live or work in the City of Alexandria and have a gross annual income below 80% of the area median income. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the City's  Flexible Homeownership Assistance Program. Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through the Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities (SPARC) program (see below). Buyers are encouraged to secure a first-trust mortgage through a City designated participating lender. For more information, please contact Vicente Espinoza at 703.746.3087. 

  • Bolling Brook: 1-bedroom, 1-bath, located at 3330 S. 28th St., Unit 304, Alexandria, VA.  The unit is priced at $183,989 with a condo fee of $361.68 monthly.  The condo fee includes common area maintenance, exterior building maintenance, insurance and pool (s). Click here for a complete listing of the property. To qualify for this home, purchasers have a gross income below 80% of AMI ($70,560 for a one-person household, $80,640 for a two-person household, $90,720 for a three-person household, $100,800 for a four-person household). For questions regarding this opportunity and qualify criteria, please contact the listing agent, Ms. Sue Kovaisky at 703.286.1167 or Office of Housing at 703.746.3087.

Set-aside Homeownership Program: This program provides a limited number of affordable, resale-restricted units in some newly constructed homeownership developments. The homes are available to first-time homebuyers who live or work in the City of Alexandria and have a gross annual income below 100% of AMI. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the Flexible Homeownership Assistance Program. Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities (SPARC) program (see below). Buyers are encouraged to pursue a first-trust mortgage through a City designated Participating Lender. For more information, please contact Vicente Espinoza at 703.746.3087. There are no units available for sale at this time.


Resale Restricted Homeownership Program: This program helps market resale-restricted units purchased with City assistance. The units are priced at levels affordable to low- and moderate-income first-time homebuyers and have long-term affordability requirements. The homes are available to first-time homebuyers who live or work in the City of Alexandria and have a gross annual income below 100% of AMI. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the Flexible Homeownership Assistance Program (see below). Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities Program (SPARC) (see below). Buyers are encouraged to pursue a first-trust mortgage through a City designated Participating Lender. For more information, please contact Vicente Espinoza at 703.746.3087.  

  • Pavilion on The Park: 1-bedroom, 1-bath condominium located at 5340 Holmes Run Pkwy., Unit 412, Alexandria, VA.  The unit is priced at $153,745.57 with a condo fee of $297 monthly.  The condo fee includes common area maintenance, air conditioning, electricity, exterior building maintenance.  Gas, heat, insurance, Lawn maintenance and much more. Click here for a complete listing of the property. To qualify for this home, purchasers must have a gross income below 100% of AMI ($88,200 for a one-person household, $100,800 for a two-person household, $113,400 for a three-person household, $126,000 for a four-person household). For questions regarding this opportunity and qualify criteria, please contact the listing agent, Ms. Beverly Tatum at (703) 585-9673 or Office of Housing at (703) 746-3087. Under Contract
  • Glebe Park Condominiums: 2-bedroom, 1-bath condominium located at 3909 Old Dominion Boulevard, #313, Alexandria, VA. The unit price is $319,500 with a monthly condo fee of $164. The home includes includes an in-unit laundry closet, two assigned parking spaces, and much more. Click here for a complete listing. To qualify for this home, purchasers must have a gross income below 120% of AMI ($88,200 for a one-person household, $120,960 for a two-person household, $136,080  for a three-person household, $151,200 for a four-person household). For questions regarding this opportunity and qualify criteria, please contact the listing agent, Mr. Haywood Barney at (703) 535-3610 or Office of Housing at (703) 746-3087.

Mortgage Interest Rate Reduction for First-Time Homebuyers

The City of Alexandria Office of Housing is pleased to announce the availability of Sponsoring Partnerships & Revitalizing Communities (SPARC) funds to provide first-time homebuyers with permanent financing for their home purchase. SPARC funding supports the City of Alexandria’s efforts to increase affordable homeownership for income-qualified first-time homebuyers. This funding is made possible by the Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) and applies only to Virginia Housing mortgages. SPARC funds reduce Virginia Housing mortgage loans 1% lower than Virginia Housing's published First-Time Homebuyer mortgage interest rate. SPARC financing is an allocation; and not a grant or a loan. It does not require repayment. However, SPARC allocations are only reserved for individual homebuyers after the buyer has a ratified sales contract. 

To qualify for SPARC financing, participants must complete a Virginia Housing-sponsored homebuyer training class, followed by a two-hour individual counseling session. Homebuyers do not have to participate in the City’s Flexible Homeownership Assistance Program to use SPARC funding, but they may eligible. Those interested should contact the Office of Housing. Homebuyers may also be eligible for Virginia Housing’s Down Payment Assistance Grant and should work with their lender to apply for funds. Click here for additional information on Virginia Housing services

    Homebuyer Eligibility

    To qualify for a City of Alexandria-sponsored SPARC allocation, the prospective homebuyer must meet the following criteria:

    • Live or work in the City of Alexandria for six months prior to request for SPARC funding;
    • Have an annual household income at or below 100% of Area Median Income;
    • Be a first-time homebuyer, defined as someone having had no ownership interest in real property in the past three years (exceptions may be granted based on circumstances regarding a termination of prior ownership);
      • Receive a first trust Virginia Housing mortgage from a City of Alexandria designated Participating Lender; and 
      • Purchase a home located within the corporate limits of the City of Alexandria.

      Lender Eligibility

      To provide City of Alexandria-sponsored SPARC funding, the prospective lender must meet the following criteria:

      • Be a Virginia Housing lending partner and provide homebuyer with a Virginia Housing first trust mortgage that meets their loan requirements;
      • Obtain designation from the City of Alexandria as a Participating Lender. To become a Participating Lender, mortgage institution must agree to provide loans per City of Alexandria requirements; as well as, successfully provide financing to at least 1 first-time homebuyer participating in the City’s Flexible Homeownership Assistance Program; and 
      • Provide required documentation on behalf of borrower to City staff/Virginia Housing to reserve the necessary SPARC  funds for individual home purchases (includes 1003, SPARC Reservation Form, Demographic Information Addendum, and verification of Alexandria residency or employment).

      Process for Requesting a SPARC Allocation

      Lenders and homebuyers who wish to use SPARC funding should contact Vicente Espinoza at 703.746.3087. 


      Closing Cost and Downpayment Assistance for First-Time Homebuyers

      Flexible Homeownership Assistance Program: This loan program provides no-interest, deferred payment downpayment and closing cost assistance to first-time homebuyers purchasing a home through the Affordable Set-Aside Homebuyer Program, Neighborhood Stabilization Program, and Resale Restricted Homeownership Program. Two income tiers are used to determine the amount of assistance available to participants. Participants are strongly recommended to receive a mortgage by one of the City's Participating Lenders. To learn more, download our program description here, or  contact Vicente Espinoza at 703.746.3087

      Additionally in conjunction with the above program, the City of Alexandria offers the Employee Homeownership Incentive Program (EHIP) to employees of the City of Alexandria and the Alexandria City Public Schools which provides an interest-free, deferred payment loan of $10,000 for home purchases in the City of Alexandria. There are no income requirements. To apply or learn more, contact Vicente Espinoza at 703.746.3087.

      New! The Office of Housing will be announcing the application process for the New City Employee Homeownership Incentive Program (EHIP) in October 2020. When the program launches, we will make an announcement and provide program guidelines.

       


      Homebuyer Training

      Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) offers free classes for first-time homebuyers on an ongoing basis throughout Northern Virginia. Classes are held in English and Spanish. Successful completion of Virginia Housing pre-purchase training gives first-time homebuyers access to Virginia Housing's below-market interest rates. Participants in the City’s homeownership program are required to complete a Virginia Housing pre-purchase training class. To learn more or to register for an upcoming class, click here

      The City: The City offers free training opportunities covering a range of topics. To learn more, contact Vicente Espinoza at 703.746.3087. 


      Condominium Survey

      The 2019 Condominium Survey provides publicly available information on condominium communities in the city. Click here to learn more.

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