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Down Payment Assistance Program

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Down Payment Assistance Program

The City of Roanoke wants to help you obtain the American dream of owning a home!

If you're thinking of purchasing a home within the City, and you meet the qualifications listed below, the Down Payment Assistance (DPA) Program may be able to help with down payment and closing costs.

Loan funds are available for up to 50% of the required down payment plus reasonable closing costs. This assistance is in the form of a 10-year, forgivable, no interest loan of $1,000 to $8,000 Maximum.   Funds are available on a first come, first served basis.

If the home you're purchasing was built before 1978, the City requires a visual assessment of potential lead-based paint hazards. The DPA will not assist homes with potential lead-based hazards..

Eligibility depends on your total household income, see the chart below. A required buyer investment of between $500 - 1,000, depending on the sales price of the home is required.
              Household SizeMaximum Income
              1
              $35,400
              2
              40,450
              3
              45,500
              4
              50,550
              5
              54,600
              6
              58,650
              7
              62,700
              8
              66,750

Potential homebuyers, Realtors and Lenders can download a PDF color brochure by selecting the following link: DPA Brochure

For more details on the lead requirements and to find out more about the program contact one of the participating lenders below or call Joyce Williams at 540 853-5681.
    Participating Lenders

    Alcova Mortgage - Ted Martin - 540 491-2044
    Kent Blackburn - 540 815-9268, Dave Jones - 540 793-0100, Bill Cross - 540 491-2043
    133 Salem Ave., SW

    Atlantic Bay Mortgage—Janie Miles, Robin Agee and Jason Bialek
    1615 East Main St (Salem)
    540-986-0270

    Atlantic Bay Mortgage -Tom Lusk
    12925 Booker T. Washington (Hardy)
    540-721-0126

    BB&T—Debbie Heath
    1620 Hershberger Road NW
    540-362-1744

    C & F Mortgage Corporation - Shane Whisnant
    3959 Electric Road, Suite 280
    540 725-1780

    Embrace Home Loans - Pam Henderson
    2820 Keagy Road
    540-761-5292

    Stellar One - Karen Whitaker
    2133 Electric Road
    540-378-1545

    SunTrust Mortgage - Martha Sowers
    4005 Electric Road 540-725-7596

    Wells Fargo Home Mortgage - Dennis Young
    201 S. Jefferson St 540-561-5365

    Wells Fargo Home Mortgage - Jason Poff
    201 S. Jefferson St 540-563-7269

    Wells Fargo Home Morggage - Donna M. Moses
    201 S. Jefferson St 540-563-6078

    Freedom First Credit Union - Jeannie Leginus- 540-375-7780
    David Routt- 540-375-7789
    Owen McKinnie- 540-951-2160
    5240 Valley Park Drive