Lease/Purchase Homeownership
Participants in this program start by renting one of a limited number of RRHA-owned houses (listed below) for at least 6 months but no longer than two years. During this time, these households can work toward saving money for a down-payment, reducing debt, and repairing credit. Each is required to complete homeownership counseling with a HUD-certified homeownership counselor and will need to qualify for a home loan with a financial institution within the two-year time frame.
Lease/Purchase Qualifications
- $18,000.00 annual income for non-elderly/non-disabled
- For elderly or disabled, the annual income requirement is the full monthly amount of the Federal Supplemental Social Security Income (SSI) benefit for an individual living alone multiplied by twelve
- Good rental history
- Ability to purchase the home within two years
- Must be able to qualify for a mortgage from a lender
Current Properties Available
The following properties are available for purchase through this program:
- 1207 Melrose Ave., NW
- 1219 Melrose Ave., NW
- 1924 Melrose Ave., NW
- 505 21st St., NW
- 1720 Dupree St., NW
Current Properties Available
The following properties are available for purchase through this program:
- 1207 Melrose Ave., NW
- 1219 Melrose Ave., NW
- 1924 Melrose Ave., NW
- 505 21st St., NW
- 1720 Dupree St., NW
Click here to download an application. Applications must be completed in their entirety. Incomplete applications will be returned to sender. For items that don’t apply, please indicate with N/A.
Completed and signed applications may be submitted by email to fgusler@rkehousing.org, dropped off in person at the Central RRHA office, or returned by mail to:
City of Roanoke Redevelopment and Housing Authority
Attn: Lease Purchase Homeownership Program
2624 Salem Turnpike, NW
Roanoke, VA 24017
Please send any questions or requests for information to fgusler@rkehousing.org
;
