Homebuyer Resources

The Office of Housing provides a range of services to homebuyers in partnership with the Virginia Housing and Development Authority.

Page updated on Apr 16, 2021 at 1:38 PM

Affordable For-Sale Units

To receive email alerts when affordable for-sale units become available, please sign up for the City’s eNews Affordable Housing Opportunities notices or contact us at 703.746.4990.

2021 Homeownership Assistance Income Limits    |    Participating Lenders List

Neighborhood Stabilization Program: Through this program, the City and its nonprofit partner, Rebuilding Together Alexandria, acquire and fully renovate distressed properties and offer these homes for sale to income-eligible, first-time homebuyers. The homes are available to homebuyers who live or work in the City of Alexandria and have a gross annual income below 80% of the area median income. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the City's  Flexible Homeownership Assistance Program. Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through the Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities (SPARC) program (see below). Buyers are encouraged to secure a first-trust mortgage through a City designated participating lender. For more information, please contact Vicente Espinoza at 703.746.3087. 

  • Saxony Square Condominiums: 2-bedroom, 1-bath condominium located at 493 N. Armistead St., #302, Alexandria, VA. The unit is priced $203,427. Click here for a complete listing of the property. CITY ASSISTANCE FOR THIS PROPERTY IS UP TO $70,000! -- UNDER CONTRACT!
  • Canterbury Square: 1-bedroom, 1-bath condominium located oat 23 Canterbury Square, #301, Alexandria, VA. The unit price is $187,181. Click here for a complete listing of the property. The buyer may qualify for up to a $4,000 seller subsidy.

Set-aside Homeownership Program: This program provides a limited number of affordable, resale-restricted units in some newly constructed homeownership developments. The homes are available to first-time homebuyers who live or work in the City of Alexandria and have a gross annual income below 100% of AMI. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the Flexible Homeownership Assistance Program. Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities (SPARC) program (see below). Buyers are encouraged to pursue a first-trust mortgage through a City designated Participating Lender. For more information, please contact Vicente Espinoza at 703.746.3087. There are no units available for sale at this time. 

Resale Restricted Homeownership Program: This program helps market resale-restricted units purchased with City assistance. The units are priced at levels affordable to low- and moderate-income first-time homebuyers and have long-term affordability requirements. The homes are available to first-time homebuyers who live or work in the City of Alexandria and have a gross annual income below 100% of AMI. Buyers may be eligible for a City shared equity loan of up to $50,000 in downpayment and closing cost assistance through the Flexible Homeownership Assistance Program (see below). Additionally, buyers may be eligible for a 1% mortgage interest rate reduction through Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) Sponsoring Partnerships & Revitalizing Communities Program (SPARC) (see below). Buyers are encouraged to pursue a first-trust mortgage through a City designated Participating Lender. For more information, please contact Vicente Espinoza at 703.746.3087.  

  • Lynhaven: 2-bedroom, 2-bath, located at 3516 Wilson Avenue, Alexandria, VA. The unit is priced at $631,950 (after a 6.37% discount). This renovated 3-level, classic brick townhouse is within walking distance of Dey Ray and Potomac Yard (and the future Potomac Yard Metro station). The home features an expanded kitchen with a breakfast bar, stainless appliances, and quartz stone counters, as well as a finished basement and garage. Click here for a complete listing of the property. CITY ASSISTANCE FOR THIS PROPERTY IS UP TO $70,000 -- UNDER CONTRACT!
  • ParkFairfax: 1-bedroom, 1-bath, located at 1254 Martha Custis Dr., Unit 517-1254, Alexandria, VA. The unit is priced at $288,937 with a monthly condo fee of $422.  The condo fee includes common area maintenance, gas, water, laundry, pools, exterior building maintenance, tennis courts and more. Click here for a complete listing of the property.
  • EOS-21: 2-bedroom, 2-bath, located at 16 S. Van Dorn St., Unit 206, Alexandria, VA. The unit is priced at $199,900 with a monthly condo fee of $638.  The condo fee includes common area maintenance, gas, heat, water, laundry, pool, exterior building maintenance, tennis courts and more. Click here for a complete listing of the property.  -- UNDER CONTRACT!

  • Canterbury Square: 2-bedroom, 1-bath, located at 15 Canterbury Square, Unit 304, Alexandria, VA. The unit is priced at $220,619 (after a 5.31% discount) with a monthly condo fee of $569.  The condo fee includes lawn maintenance, management, snow removal, trash, and maintenance of the outdoor pool. Click here for a complete listing of the property. -- UNDER CONTRACT!

Mortgage Interest Rate Reduction for First-Time Homebuyers

The City of Alexandria Office of Housing is pleased to announce the availability of Sponsoring Partnerships & Revitalizing Communities (SPARC) funds to provide first-time homebuyers with permanent financing for their home purchase. SPARC funding supports the City of Alexandria’s efforts to increase affordable homeownership for income-qualified first-time homebuyers. This funding is made possible by the Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) and applies only to Virginia Housing mortgages. SPARC funds reduce Virginia Housing mortgage loans 1% lower than Virginia Housing's published First-Time Homebuyer mortgage interest rate. SPARC financing is an allocation; and not a grant or a loan. It does not require repayment. However, SPARC allocations are only reserved for individual homebuyers after the buyer has a ratified sales contract. 

To qualify for SPARC financing with the City’s Flexible Homeownership Assistance Program, participants must complete a Virginia Housing-sponsored homebuyer training class, followed by a two-hour individual counseling session. Homebuyers do not have to participate in the City’s Flexible Homeownership Assistance Program to use SPARC funding, but they may eligible. Those interested should contact the Office of Housing. Homebuyers may also be eligible for Virginia Housing’s Down Payment Assistance Grant and should work with their lender to apply for funds. Click here for additional information on Virginia Housing services

    Homebuyer Eligibility

    To qualify for a City of Alexandria-sponsored SPARC allocation, the prospective homebuyer must meet the following criteria:

    • Purchase a home located in the City of Alexandria corporate limits;
    • Live or work in the City of Alexandria for six months prior to request for SPARC funding;
    • Have an annual household income at or below 100% of Area Median Income;
    • Be a first-time homebuyer, defined as someone having had no ownership interest in real property in the past three years (exceptions may be granted based on circumstances regarding a termination of prior ownership);
      • Receive a first trust Virginia Housing mortgage from a City of Alexandria designated Participating Lender; and 

      Lender Eligibility

      To provide City of Alexandria-sponsored SPARC funding, the prospective lender must meet the following criteria:

      • Be a Virginia Housing lending partner and provide homebuyer with a Virginia Housing first trust mortgage that meets their loan requirements;
      • Obtain designation from the City of Alexandria as a Participating Lender. To become a Participating Lender, mortgage institution must agree to provide loans per City of Alexandria requirements; as well as, successfully provide financing to at least 1 first-time homebuyer participating in the City’s Flexible Homeownership Assistance Program; and 
      • Provide required documentation on behalf of borrower to City staff/Virginia Housing to reserve the necessary SPARC  funds for individual home purchases (includes 1003, SPARC Reservation Form, Demographic Information Addendum, and verification of Alexandria residency or employment).

      Process for Requesting a SPARC Allocation

      Lenders and homebuyers who wish to use SPARC funding should contact Vicente Espinoza at 703.746.3087. 


      Closing Cost and Downpayment Assistance for First-Time Homebuyers

      Flexible Homeownership Assistance Program: This loan program provides no-interest, deferred payment downpayment and closing cost assistance to first-time homebuyers purchasing a home through the Affordable Set-Aside Homebuyer Program, Neighborhood Stabilization Program, and Resale Restricted Homeownership Program only. Two income tiers are used to determine the amount of assistance available to participants. Participants are strongly recommended to receive a mortgage by one of the City's Participating Lenders. To learn more, download our program description here, or contact Vicente Espinoza at 703.746.3087

      Additionally, the City of Alexandria offers the Employee Homeownership Incentive Program (EHIP) to employees of the City of Alexandria, Alexandria City Public Schools, Alexandria Commonwealth Attorney, Alexandria Clerk of Court, Alexandria Sheriff, 18th Circuit Court, 18th General District Court, 18th Juvenile and Domestic Relations Court, Alexandria Court Services Unit, Alexandria Law Library, Alexandria Registrar of Voters, Alexandria Public Library, and Alexandria Health Department who regularly work 20hrs per week or more. EHIP provides an interest-free, deferred payment loan of up to $15,000 for home purchases in the City of Alexandria. Eligible purchases include condominiums, townhomes, cooperative housing, and detached homes with a sales prices of $682,500 or less. There are income requirements. To apply or learn more, contact Sam Gates at 703.746.3076. 


      Homebuyer Training

      Virginia Housing (formerly Virginia Housing Development Authority (VHDA)) offers free classes for first-time homebuyers on an ongoing basis throughout Northern Virginia. Classes are held in English and Spanish. Successful completion of Virginia Housing pre-purchase training gives first-time homebuyers access to Virginia Housing's below-market interest rates. Participants in the City’s homeownership program are required to complete a Virginia Housing pre-purchase training class. To learn more or to register for an upcoming class, click here

      The City: The City offers free training opportunities covering a range of topics. To learn more, contact Vicente Espinoza at 703.746.3087. 


      Condominium Survey

      The 2019 Condominium Survey provides publicly available information on condominium communities in the city. Click here to learn more.

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