Fairfax County First Time Homebuyer Program (FTHP) - The FTHB is a component of the Affordable Dwelling Unit Program (ADU) and has been providing opportunities to moderate income households since 1992. Homes are offered at prices well below those of other homes in developments and are sold directly by area builders or a current owner. Home prices range from $70,000- $140,000 depending on the type and size of the home. These townhomes and condominiums are located throughout Fairfax County within many communities that offer amenities such as swimming pools, tennis courts, jogging trails and tot lots. For additional information, visit Fairfax County's Housing Program's website or call 703.246.5138.

Sponsoring Partnerships and Revitalizing Communities Program - Arlington's affordable housing initiative received a boost with the award of $8.3 million from the Virginia Housing and Development Authority's (VHDA) Sponsoring Partnerships and Revitalizing Communities (SPARC) Program. With the funds, low- and moderate- income first-time homebuyers will be able to obtain below market first trust mortgages. For additional information, visit Arlington County's website or call Arlington County's Housing Information Center at 703.228.3765.

Virginia Housing Department Authority (VHDA) Mortgage - The VHDA has released a loan program which has not been widely publicized. The Flexible Alternative is available only on Virginia properties but features extremely relaxed income and loan amount restrictions compared to other similar home loan programs. VHDA obtains funds by selling tax-exempt bonds at low interest rates which in turn permits the funding of mortgage loans at below market rates. These rates, plus the low down payment requirements, combine to make affording a home easier than ever for Virginians. For additional information, visit VHDA's website or call 800.968.7837.