Town of Blackstone
Virginia
Town Of Blackstone Workforce Housing
The Town has established a Workforce Housing Revolving Fund Program (WHP) designed to facilitate the transition of individuals into first-time homeownership within the Town of Blackstone. This program is designed to support the construction of newly built, stick-built homes priced at a rate that is 25% lower than the prevailing market rates in the area.
If you have any questions please contact
Chastiddy Bryant
Community Development Specialist
Monday - Friday 8:00 a.m. - 5:00 p.m.
Phone Number : (434) 292-7251 ext. 227
*If you wish to email Ms. Bryant please click on the envelope*
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1. Who does this program hope to assist?
Answer - This program is geared toward the Workforce class. The workforce class is defined by an individual holding a position/career/job for a minimum of 24 months.
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2. Does Credit Score impact my chances of purchasing a home under this program?
Answer - Although the Town does not use your credit score, prospective clients must demonstrate their ability to secure financing for the purchase of a home. Lenders typically assess various factors, including credit score, debt-to-income (DTI) ratio, and monthly discretionary expenses, when determining the loan amount, they are willing to extend.
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3. If my credit score is low, will the program work with me to become a homeowner?
Answer - The Town collaborates with the Southside Outreach Group (SSG) in South Boston to assist individuals in improving their credit scores to qualify for loans from lenders. Upon receipt of a loan application and all necessary documentation by the Town, these materials are forwarded to SSG. SSG then obtains a comprehensive credit report from all three major credit bureaus and reaches out to the client directly. A detailed discussion takes place regarding the client's credit score, its implications, and potential strategies to enhance the client's score.
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4. Does the home have to be built in Blackstone?
Answer - In accordance with the program's design, it is mandatory that all residences developed under this initiative be constructed on single-family lots that are owned by the Town of Blackstone.
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5. Do I have to be a Blackstone/ Nottoway resident?
Answer - We invite all individuals interested in homeownership to apply for the program, with particular encouragement for residents of Blackstone to participate. This initiative is accessible to a diverse range of applicants.
6. Can I apply for the program if I have already owned a home?
Answer - Regrettably, the program is designed specifically for first-time homebuyers or individuals who have not owned a residence within the past three years.
7. How long will it take to become a homeowner through this program?
Answer - The timeline varies by client, as each person is at a different stage in their lives. If a client is approved for a loan, the average home can be built in approximately 6 months, depending on weather and other factors.