WASHINGTON COUNTY LAUNCHES FIRST OF ITS KIND HEART & HOMESTEAD EARNED DOWN PAYMENT INCENTIVE

Washington County, in partnership with Economic Development Washington County (EDWC) announced the first of its kind Heart & Homestead Earned Down Payment Incentive.  The Incentive is expected to have a life changing impact on those seeking a path to home ownership by providing up to $20,000 to qualifying homebuyers purchasing owner-occupied homes under $420,000. Washington County's Heart & Homestead Earned Down Payment Incentive application portal will go live at Noon on April 4, 2024. 

Recipients of the Incentive will have 5 years to “earn” their incentive from the date they close on their home through volunteering their time and financially donating to nonprofit Participating Agencies serving residents of Washington County. Recipients can earn $25 for every 1 hour volunteered and 70¢ for every $1 donated to a Participating Agency. Anyone living in the household can contribute to Incentive Earnings. If a Recipient is unable to fully earn their Incentive in the 5-year period, they no longer live in the home, or they sell their home before fully earning it, they will be required to reimburse the unearned amount when they move or sell.

Heart & Homestead rewards those willing to serve their community with an Incentive for the opportunity of home ownership. It is the investment in the Incentive Recipients that not only makes property ownership more attainable, it signals to existing residents and local organizations that new buyers will be active members of the community, invested in enriching the quality of life of Washington County. County Executive Josh Schoemann stated that “At the core of Heart & Homestead is creating the opportunity for making homeownership more attainable and building strong social networks that are filled with people who are invested in the community.”

With the focus on attracting people to Washington County and supporting existing residents seeking a new home, Heart & Homestead puts a creative and positive spin on finding the resources necessary to purchase in Washington County by incentivizing homebuyers for putting their hearts into their homes.

For more information on Heart & Homestead visit: https://heartandhomewashco.com/