I think the best person to answer this would be a mortgage broker/lender. I know that Ingrid Sell with Village Bank handles grants and is very knowledgeable in that area. She can be reached at email@example.com or 804 330 9800.
Joni Moncure with Monarch Mortgage is also experienced in construction loans, 203K, etc. firstname.lastname@example.org
Go straight to the source and get the answers you need. Let me know if I can help with the purchase in any way.
Hi Kenneth - as the mortgage broker mentioned, our area has FHA 203K renovation loans - this means you get a loan for the purchase price of the home and the cost of renovations rolled into one mortgage. Is the home you are looking at in the Church Hill area (23223) - I am familiar with that area and have recently sold a home there. I'm not aware of any grants for repairs, but I know a very good lender who has grants (for down payment, etc.) and his bank also has renovation loans. Some of the restored homes in historic areas offer tax abatements which can save money on your tax bill. Please feel free to call or email me for more info - thanks, Jan
Advance Realty Specialists
Generally the best person to ask about grants is someone in your local area, however you could also consider a 203k loan, which is an FHA rehab loan, that would give you money for major repairs. There are certain guidelines and restrictions, and it is a more costly home, but could be worth it if the price is right.