SINGLE FAMILY HOMES – What we do best!
So Far…
Eight single family homes (fill-in) and 11 homes in the Kelley/Tower subdivision have been built and sold. The first phase of the Covenant Heights subdivision on South Main Street in Rockingham County (behind DMV) which includes 44 duplexes was begun in January, 2004 and completed. Construction of Phase II, (42 units) is almost complete (as of February 2010). The VA Department of Housing and Community Development continues to provide infrastructure cost through their AHPP program - building streets, curbs, utilities, etc. To date. The infrastructure for Phase III is all in place and home construction will start as soon all the unity in phase II are sold.
How do we do it?
We have retained the services of a well known architectural firm to design the facade of the homes. Thus our homes are as attractive as any in the market. On top of that all our homes are built green (Earthcraft(R) and Energy Star(R) standards). If we succeed in persuading our home buyers to buy energy efficient appliances, there is measurable energy cost savings.
At Hope Community Builders we attend to detail and any person looking at our homes can discern that a lot of effort has gone into making as neat and to an all round exacting standard.
As a nonprofit corporation, our main task is enhancing affordability. Home buyers may not be able to afford our homes because of income. That portion of the cost of the house not paid for by a mortgage loan will be covered by a second and third deeds of trust, forgiven after a period of no more than 15 years. These funds when available will include HOME funds (Federal funds availed through the State), Federal Home Loan Bank, and our own funds.
The mortgage loans are from VHDA SPARC program, which for qualifying homebuyers is at least 0.5% below the market rate.
Our Philosophy.
Decent shelter is a right of every citizen. Provision of affordable homes is not as an act of charity but a partnership between us the home buyer and government entities. We run HCB as a non-profit business and as efficiently as any for profit business.