Virginia Housing and Community Development Corporation

Home Ownership

Home Ownership Assistance Program - VHCDC’s First-Time Home Buyer Education Program (the Program) is our initiative to empower first-time home buyers and help prior homeowners get a second chance at owning a home or condo. As a client, you’ll access a dedicated team of professionals with the expertise and resources to move you from renter to home owner. The program is especially helpful to individuals and families that are being negatively impacted by low credit ratings (FICO scores), or have lost a home due to foreclosure or a short-sale.

Additionally, if necessary, you can expect a written action plan designed to improve your credit rating (FICO score) and guidance to develop a household budget. The objective of the action plan is to provide you a roadmap to increase your credit score above 620, where you’ll find a much better mortgage interest rate. Most of our clients achieve this milestone within the first year of the program. Once you’ve reached this milestone we’ll assist you with your mortgage application and, upon approval, engage the rest of our Home Ownership Service Partners to help you locate and secure your new home.


Investment Clubs

By definition, an investment club is a group of less than 100 individuals who meet for the purpose of pooling their money and investing. These clubs may be formed to invest in stocks and bonds, as a real estate investment group, as a business investment group, or any combination thereof. VHCDC seeks to facilitate the creation of hybrid investment partnerships that may invest in all three areas, with emphasis on providing venture capital for small, disadvantaged businesses in their community.

VHCDC is providing technical assistance and resources to foster the growth of hybrid investment clubs throughout the Commonwealth of Virginia. We're helping individuals, particularly entrepreneurs and small business owners, create general partnerships that facilitate wealth building and the flow of capital to local entrepreneurs.

Lease Purchase Program

Our Lease Purchase Program is unlike anything available to prospective home buyers. The process is easy, and built on flexibility, choice, and transparency.  It is designed to get you into a home, even you aren’t ready or able to purchase it right now.

You have the ability to choose a qualifying home listed for sale and rent it from us for up to 5 years, with the Right to Purchase. The Lease and Right to Purchase amounts are provided before signing the lease. After closing, your Property Management Company becomes your point of contact. They handle monthly rent and utility payments, maintenance requests, and everything in between. Whether you exercise your Right to Purchase, renew your lease, or move out, VHCDC will be there to help you on your path to homeownership.

Enrollment in the Lease Purchase Program is easy. 

Neighborhood Revitalization

It is painfully obvious many of Hampton Roads' once vibrant neighborhoods are in desperate need of some "T L C" to bring them back to life and save them from further erosion. One can only imagine the discouragement residents face as they walk out their front door or the shame our citizens feel when transiting distressed communities. Are we living in a Third World country? The goal of the VHCDC Neighborhood Revitalization Initiative (NRI) is to reclaim neighborhoods blighted by deteriorating structures, abandoned properties, and dumping grounds and convert them into stable, vibrant communities with next-generation housing.

The VHCDC NRI Team works directly with the neighborhood residents to assess their community needs and, in partnership with our investors, community impact team, volunteer organizations, and service providers work to improve the residential properties and infrastructure of those communities. We invite residents to accept this opportunity to realize the following rewards for their neighborhood:


Small Business Advisory Services (SBAS)

We know the challenges you face developing your business plan, launching your business. We understand the obstacles, the forks in the road. You dreamed of being the captain of your own ship for months, perhaps years. But you don't know where to start. Or, perhaps you've already started. You've owned and operated your business for years, but growth has eluded you. You want to expand. You need more customers. You need capital. You need help!

Our Small Business Advisory Service consulting services include accounting, bookkeeping, contracting, financial, insurance, management, payroll, tax, and other areas. We work with entrepreneurs, small and micro-business owners who need an advisor with significant knowledge, capabilities, and creativity. As a trusted advisor we assist entrepreneurs and micro-business owners to resolve problems and identify their most meaningful opportunities.


Small Business Financing Services

Since 2005, Virginia Housing and Community Development Corporation has been dedicated to helping small, women, and minority-owned businesses in the Commonwealth of Virginia succeed through exceptional support, products, service, and training. We offer prompt service, competitive rates, an experienced staff, and a variety of financing products designed with you in mind. The Small Business Financing Services offered by Virginia Housing and Community Development Corporation gives your business a single-source for a variety of business financing. Our suite of financing products includes:


Want more information? Need assistance? Write us or give us a call @ (866) 931-5760.