VI Slice homeownership program assisted 20 families, Government House said

Government House said on July 17, 2024, that the VI Slice Moderate-Income Homeownership Program had helped 20 families buy their first homes since the program began.

According to the announcement, the program provided $1.87 million in grants, alongside about $5.87 million in mortgage loans from participating local lenders, to help cover the gap between approved mortgage amounts and home purchase costs.

Government House said four additional applicants were nearing closing.

The announcement also said the government was promoting the "Own a Lot, Build a Home" initiative through the Office of Disaster Recovery. Government House described that program as providing zero-interest forgivable loans for the construction of single-family homes on undeveloped land.

Official source: https://www.vi.gov/governor-bryan-leads-unprecedented-push-for-affordable-homeownership-in-the-u-s-virgin-islands/