The Homeownership Opportunities Program offers new three and four bedroom homes to low to moderate income first time home buyers. The Homeownership Coordinator counsels potential home buyers helping to ready them for the purchase of their first home. Topics covered include bank credit requirements, credit report issues, employment stability, debt load and debt reduction, and how to use a tax return to further the goal of homeownership. Once the buyer is ready to buy, they choose a plan and a site from the nine sites currently available in the Roanoke area. Each buyer has a catalog of options to choose from including carpet color, vinyl flooring color, countertops in the kitchen and bath, siding and roof colors.
Buyers often receive special financing.
Currently, four homes have been built and sold, six homes are under construction. Four of these families are public housing residents. As each home becomes vacant, the RRHA advertises its availability to public housing and Section 8 residents. Residents who appear to have the ability to obtain a mortgage loan within two years are offered the opportunity to lease, and eventually purchase the home. During the lease period, families receive financial counseling.