1. Candidate must meet the terms and conditions spelled out in the Urban Hope Homeownership Planning Contract
  2. Income is no more than 80% of the Area Median Income (AMI) 

Candidate Application Process

  1. Complete the application for homeownership and submit it to Urban Hope
  2. Call Urban Hope at 804-396-2198 to confirm receipt and plan Financial Meeting. 
  3. Financial Meeting with Candidate and Urban Hope’s Director of Housing and Family Services (DHFS) to review financial situation of candidate (includes budget and creation of debt reduction plan).
  4. Candidate assigned a Homeownership Navigator (mentor), or DHFS will fill this role, to help meet defined goals on the Candidate’s road towards ownership.
  5. Enroll in the Great Start, Money Smart class through Urban Hope
  6. Candidate continues meeting with their Homeownership Navigator or DHFS once a month, every month for at least the first year in the program.
  7.  Candidate meets with DHFS to review and sign the Urban Hope Ownership Planning Contract
  8. Candidate saves 2-3 months of “safety-net” rent before they are placed into an Urban Hope home.
  9. Candidate completes HOME’s homeownership class.  Enrollment after reaching a 625 credit score.  
  10. Once these steps are fully completed, the Candidate has demonstrated stability in income and budgeting, and their projected monthly mortgage payments are at or below their current rent payments, Urban Hope will begin to discuss the Candidate’s purchase of the home.


***Expected length of the process is typically 30-36 months but will vary depending on each Candidate’s unique situation.***