Great news for first-time homebuyers who are looking to make homeownership a reality! V.I. Housing Finance Authority (VIHFA) announced the launch of the ‘Own A Lot, Build a Home’ program, a secondary financing initiative providing 20-year, zero-percent forgivable grants up to $250,000 for the construction of new single-family homes, as reported by the St. Croix Source. The program targets low-to-moderate-income eligible residents who own land, but also need financial assistance to develop it. Financing assistance will hopefully make home construction affordable for residents. The VIHFA has partnered with Banco Popular for the program. Read more about the requirements and the application on the VIHFA website. Read the full article here.
New ‘Own A Lot, Build a Home’ Financing Program
