First 2 Homes Close In Falls Church Affordable Homeownership Program

FALLS CHURCH, VA — The City of Falls Church's affordable homeownership program is making progress with the closing of the first two homes.

The city government announced the closing of two homes under the new program, which seeks to help eligible residents buy homes amid Northern Virginia's affordability challenges. The City of Falls Church is on the higher end of home prices in Northern Virginia with a median price of $832,500, according to August data from the Northern Virginia Association of Realtors.

Under the city's new program, homebuyers can purchase a house with a reduction up to $150,000 as well as benefits like lower interest rates, down payment assistance and environmentally-friendly and energy cost-saving home upgrades.

The program has helped two new homeowners realize their dreams of owning property in the city.

"I never thought this could happen for me. It was always my dream to own a house," said one of the new homeowners, who was not publicly identified.

"My family lived in Falls Church for over a decade," the other new homeowner said. "With the help of this program I can finally call myself a homeowner."

Under the affordable homeowner program, three homes have been purchased from private owners. Two of the homes have had energy-efficient upgrades like new appliances, HVAC systems and lighting. A third two-bedroom home is currently available for purchase, and more homes will come under the program.

"These first two closings are just the beginning of our efforts to make homeownership attainable for more of our residents," said Dana Jones, the city's director of human services. "This program is part of the City's broader strategy to address housing affordability challenges, emphasizing the importance of long-term stability and community growth."

The city's program is managed by nonprofit real estate company NHPF and launched earlier this year. Funding support comes from the Virginia Housing’s Resources Enabling Affordable Community Housing funds, part of Amazon's $15 million funding commitment to affordable housing in Northern Virginia due to its selection of Arlington County for its second headquarters.

Eligible homebuyers must meet certain requirements, be prequalified for a loan, and take Virginia Housing's homebuyer education course. Typically, eligible homebuyers earn between 50 percent and 120 percent of the Area Median Income. Those interested in the program can visit fallschurchahp.org.

City of Falls Church homeowners who are looking to sell their homes can allow them to be sold for their program. City government says it provides all-cash payments and "competitive prices" for qualifying homes. Learn more by contacting the NHP Foundation at inquiries@fallschurchahp.org.