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If you’ve been house hunting, you know “affordable” doesn’t always mean within reach. Even homes labeled as affordable can stretch your budget, especially when affordability is defined as spending less than 30% of your income.
That’s where grant funds come in. They’re designed to help ease the financial burden and make your path to home ownership more manageable. And yes, we’re here to help.
First-time Homebuyer Grant Program
Buying your first home is an important milestone in your life. Here at Chesapeake Bank, we understand that finding the right financing plan is as important as finding a home that fits your lifestyle.
To help you get started on solid footing, Chesapeake Bank can help first-time homebuyers access up to $17,500 to assist with the down payment and closing costs incurred when purchasing a home. Funding is available to qualified first-time homebuyers*.
Community Partners Grant Program
At Chesapeake Bank, we are committed to supporting families and individuals who make their living serving others in the community. As part of this commitment, we offer a unique financial opportunity for current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders; and veterans and active-duty members of the military or their surviving spouse who are purchasing a home.
Chesapeake Bank can help homebuyers access up to $20,000 to assist with the down payment, closing costs, and rehabilitation costs incurred when purchasing a home.
Funding is available to qualified homebuyers that meet product and income eligibility requirements, including first-time homebuyers or families and individuals that currently own a home or have previously owned a home.
In addition to meeting eligibility requirements for these grant programs, the homebuyer must:
• Contribute at least $1,000 toward the purchase of the home
• Occupy the home as a primary residence
• Complete a homebuyer education and financial literacy course specified by FHLBank Atlanta
Chesapeake Bank prides itself on providing accessible and feasible financial resources and mortgage products to first-time homebuyers.
How To Apply
Please contact our mortgage specialists to learn more about these programs and to determine if you are eligible for Community Partners funding or First-time Homebuyer funding to begin your application process.
Greater Richmond
Tracie Price
804-414-3064
tprice@ches.bank
Middle Peninsula
Jessica Dehoux
804-695-8237
jdehoux@ches.bank
Kristi Rowe
804-695-8253
krowe@ches.bank
Northern Neck
Paula Owens
804-435-4257
powens@ches.bank
Katie E. Davis
804-435-4255
kedavis@ches.bank
Williamsburg
Fontaine Kamara
757-941-3357
fkamara@ches.bank
Courtney Carlton
757-941-1337
ccarlton@ches.bank
*Rates are subject to change at any time and are not guaranteed until locked.
*First-Time Homebuyer is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Bank of Atlanta’s Affordable Housing Program Implementation Plan at www.fhlbatl.com for complete product requirements.
*Community Partners is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Bank of Atlanta’s Affordable Housing Program Implementation Plan at www.fhlbatl.com for complete product requirements.
