Jonesville, VA— Powell Valley National Bank (PVNB, Bank) is pleased to announce its participation with the Federal Home Loan Bank of Atlanta’s First-Time Homebuyer Program and Community Partners Product Program. The program provides funding assistance to consumers with down-payment proceeds and closing costs associated with a new home purchase.
Buying a home is an important milestone in a person’s life, and Powell Valley National Bank understands that finding the right financing plan is as important as finding the right home. In helping to form that strong foundation, PVNB can assist first-time homebuyers in accessing funds for the down-payment and closing costs associated with a new home purchase.
PVNB can assist First-Time Homebuyers in accessing up to $5,000 for the down-payment, closing costs, and rehabilitation costs incurred when purchasing a home.
PVNB is also pleased to announce special financing opportunities up to $7,500 for current and retired law enforcement officers, educators, healthcare workers, firefighters, and first responders who are purchasing a new home. Funding is available to assist with down-payment funds, closing costs, and rehabilitation costs incurred when purchasing a new home.
Eligibility requirements include:
- A borrower’s income must be less than or equal to 80 percent of HUD median income for the area and adjusted for family size to be eligible for available funds;
- The borrower must contribute at least $1,000 towards the purchase of the home;
- Complete a Homebuyer Education and Financial Literacy course specified by the FHLB Atlanta;
- Occupy the home for a minimum of 5-years;
- Funds are available on a first-come, first-serve basis.
Please contact one of our loan officers to determine if you are eligible for funding and to begin the application process.