Pillar 3
Charlottesville Equitable Housing
Affordable housing can mean many things. To us, it will always meet certain core values. Our affordable housing vision is one where Black residents in historic neighborhoods are able to remain in their homes if they wish. It is a housing system that offers Black residents the option to buy or rent their home within proximity to the heart of the city, rather than pushing them to the outskirts of town. Displacement to the periphery forces residents to trade rent costs for transportation costs and contributes to disconnection from the community.
We believe it is possible and essential to house residents close to good jobs, good schools, and healthy food to build prosperous communities. We want our residents to have the option of moving from an affordable apartment to their first home, while staying close to the community they are a part of, so they have the opportunity to move up, not move out.
Operation Hope
The Homeownership Program
“The net worth of the typical homeowner ranges between 31 and 46 times that of the net worth of the typical renter.”
The Homeownership and First Time Home Buyer Program, a core focus of New Hill’s Financial Capability programming, is designed to empower individuals and families for whom homeownership is part of their life’s vision. With the help of our partner, Operation HOPE, New Hill is committed to helping the Charlottesville Community provide more pathways to become homeowners and more engaged community stakeholders.
Our financial wellbeing coach supports clients on the journey to homeownership, helping them get the funding they need to own a home without resorting to sub-prime loans. The process starts with a homebuyers workshop that provides an overview of the process from industry professionals to include: real estate agents, mortgage broker, insurance agent, and inspector. From there, our HUD-certified coach and industry professionals walk clients through the loan packaging process and provide them with the tools and resources to fund a home purchase.
For individuals or families in need of additional support, our HUD-approved housing counseling program will also help clients overcome a variety of common barriers to homeownership, including bad credit, lack of down payment, existing debt, and money management issues. Homeownership uplifts communities and creates engaged stakeholders— the net worth of the typical homeowner ranges between 31 and 46 times that of the net worth of the typical renter.
Ready to purchase a home?
The VIDA Program
The Virginia Individual Development Accounts (VIDA) program is a financial
education and matched savings program to assist working families with their
first home purchase. Participants receive access to financial counselors,
homebuyer education and the opportunity to earn money towards a down
payment and closing costs.
Save $500 and Earn $4,000
towards the purchase of your
first home with VIDA.
Are you Eligible for VIDA?
If you can answer yes to the following, you could be eligible:
U.S. citizen or legal resident that lives in Virginia
18 years or older
Have earned income from employment or self-employment
Ready to purchase a home within six to 24 months
Meet household income requirements found at www.dhcd.virginia.gov/VIDA
The VIDA program is funded by the Virginia Housing (VHDA) and administered by the
Virginia Department of Housing and Community Development (DHCD).
Preserving Neighborhood complexion
What to Know Before You Sell
Did you receive a post card, letter, flyer, or phone call promising CASH no matter the CONDITION of your home? That’s because home ownership is a powerful pathway to wealth creation and community empowerment. Most of these companies are looking to extract your current and future wealth.
Do not let your personal and financial circumstances lead you to a less than optimal sale of your home. You deserve to know the current and potential worth of your home and receive fair terms of sale no matter your situation.
Let Us Help You! We can help by connecting you with reputable, local real estate agents to work on your behalf and provide assistance and answers to your questions about selling your house. These agents can help you evaluate your options including ways to keep your home. We are working on setting up a hotline to provide this assistance free of charge. Check back for details.