City of Falls Church Affordable Homeownership Program

Providing homeownership opportunities in the City of Falls Church to income-qualified buyers

OVERVIEW

Over the next year, the City of Falls Church will offer affordable homes at sale prices below market rate to homeowners earning between 50% and 120% of AMI. The City of Falls Church Affordable Homeownership Program (CFCAHP) is being financed by funding from Virginia Housing’s REACH (Resources Enabling Affordable Community Housing in Virginia) program, as well as funds from the City of Falls Church. CFCAHP will be managed by The NHP Foundation (NHPF) and the City of Falls Church’s Housing and Human Services Department (HHS).

Over the next year, the City of Falls Church will offer up to 18 homes at sale prices below market rate to homeowners
earning between 50% and 120% of AMI. To participate in AHP, participants must meet certain eligibility and prioritization requirements, outlined below, and should contact the City of Falls Church for initial eligibility screening.

HOW IT WORKS

NHPF will purchase and resell homes in the City of Falls Church at a reduced price to first-time homebuyers. Prices will be affordable to buyers at 50% to 120% of AMI. Homes can include single-family homes, townhomes, and condominiums.

Interested buyers should sign up here to learn more. Read below to learn about eligibility and prioritization.

Important: All properties that are part of this program will be subject to a Recorded Restrictive Covenant or Deed Restriction that govern the resale of properties, usage, and material alterations to the properties.

GET STARTED

ONE: Check your eligibility: See whether you are eligible to participate in the City of Falls Church AHP.

Eligibility

The city will perform all initial eligibility screening of buyers and may prioritize eligible buyers as listed below:

  • First-Time Buyer
    Someone who has not owned residential property and who has not had an ownership interest for three years and doesnot have any current ownership interest in residential property or more is considered a First-Time Buyer.
  • Primary Residence
    Properties purchased through the REACH Program must be occupied by the homebuyer as the primary residence.Homebuyers may not own other residential property.
  • Household Income
    Households must have annual income between 50% and 120% of the HUD median income for the City of Falls Church. See AMI table.
  • Prequalification
    Must be prequalified by Virginia Housing.

Prioritization

Priority One Ranking Order  
• Seniors or persons with disabilities who live in and work for the City.
• Seniors or persons with disabilities who live in and work in the City.
• Seniors or persons with disabilities who live in the City.
• Persons who are homeless

Priority Two Ranking Order
• People who live in and work for the City
• People who live in and work in the City
• People who live or work in the City

Priority Three Ranking Order
• Seniors or persons’ with disabilities who do not live or work for the City
• People who do not live or work in the City

TWO: Talk to lender and get pre-approved

Your lender can help you confirm your eligibility for the City of Falls Church’s REACH Program and will make sure you meet all the requirements, such as attending the right Homebuyer Education Class: Virginia Housing Approved Lenders.

Three: Attend a Homebuyer Education Class conducted by Virginia Housing

Virginia Housing regularly hosts classes that help prepare purchasers to become homeowners. It is also required that you meet with a housing counselor after you complete the homeownership class.

Four: Fill out this form to begin the process

CONTACT US
Email inquiries@fallschurchAHP.org for the answers to your questions.

AVAILABLE PROPERTIES
Available properties are listed below. You may also sign up to be alerted when additional information or new properties become available online.

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