Down Payment Assistance Program

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 Size	Maximum 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