Habitat for Humanity Peninsula and Greater Williamsburg Dedicates Veterans Home in Hampton
A Newport News native and U.S. Army veteran got the keys to his new Hampton home during a dedication ceremony on July 23, 2024 thanks to the Habitat for Humanity Peninsula and Greater Williamsburg Veterans Build program.
The veteran who qualified to purchase this home was approved through Habitat’s first-time Homebuyer Program that includes a vigorous application process.
Military veteran buyers receive a 25% mortgage discount.
“Everybody thinks they know Habitat, and everybody thinks they know that Habitat gives homes away,” said Habitat Board President Keith VanderVennet at the dedication ceremony. “But we don’t. We sell to qualified families with low to moderate income.”
The homebuyer has committed to pay back a zero-interest, 20- to 30-year mortgage, maintain steady employment and good credit history. He provided 200 hours of “sweat equity,” helping to build this home, the homes of other approved Habitat partner families and as a volunteer at one of the three local Habitat ReStores in Newport News, Williamsburg or Yorktown. The buyer also attended homebuyer education and financial literacy classes.
“Over five million veterans pay 30 to 50% of their income towards rent and towards mortgage,” said Habitat Board Member Terri Francis. “That’s a major cost burden. We hope to change that through these programs, and it starts here today and continues with Habitat and the missions that we have.”
