Following a push by Governor Albert Bryan Jr. (D), the United States Virgin Islands government recently announced advancements under the VI Slice Moderate-Income Homeownership Program.
This initiative was described as underscoring the Bryan-Roach Administration’s commitment to dismantling barriers to homeownership and fostering long-term economic stability among US Virgin Islanders.
Since its inception, the VI Slice Moderate-Income Homeownership Program has empowered 20 families with the tools to purchase their first homes by providing $1.87 million in grants on top of approximately $5.87 million in mortgage loans made by local participating lenders to assist those families in closing the affordability gap between the amount of their approved mortgages and the actual cost of their first home. These measures are considered crucial steps toward rectifying the disparities in housing access within the community.
“Today, we celebrate the tangible results of the VI Slice Moderate-Income Homeownership Program. It is a testament to our dedication to transforming the lives of Virgin Island families,” Governor Bryan enthused. “This initiative is more than a program; it’s a promise to our citizens that we will fight for their right to own a home and secure their financial future.”
Governor Bryan claims he consistently prioritized homeownership as a critical driver of community vitality and individual prosperity. “The path to homeownership is fraught with challenges, but we are clearing the way, ensuring that the dream of owning a home is not a privilege for the few but a reality for the many,” the governor asserted.
Four additional applicants are nearing the closing phase, signaling sustained interest and the need for such programs.
Building upon this foundation, the Governor is also championing the “Own a Lot, Build a Home” initiative. This program, spearheaded by the US Virgin Islands Office of Disaster Recovery, extends another lifeline to families striving to construct their personalized, resilient homes on government-subsidized land.
“The ‘Own a Lot, Build a Home’ initiative is a strategic expansion of our efforts to put homeownership within reach of every Virgin Islander. It’s about empowerment, sustainability, and resilience,” Governor Bryan explained. This initiative not only promises affordable options but also supports families in building homes designed to withstand the challenges posed by climate change.
Together, the VI Slice and “Own a Lot, Build a Home” programs illustrate the Bryan-Roach Administration’s agenda to fortify the economic and social fabric of the US Virgin Islands through robust, accessible homeownership solutions.
Governor Bryan urged all eligible citizens to seize these opportunities to lay down roots and build secure futures.
The VI Slice Moderate-Income Homeownership Program offers financial assistance to bridge the gap between mortgage approvals and the actual cost of homes, prioritizing moderate-income families in their quest for homeownership.
The Own a Lot, Build a Home First-Time Homebuyers Assistance Program provides zero percent interest forgivable loans for the construction of single-family homes on undeveloped land, emphasizing support for building resilient, cost-effective family homes.
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