
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, July 26, 1990                   TAG: 9007250251
SECTION: CURRENT                    PAGE: NRV8   EDITION: NEW RIVER VALLEY 
SOURCE: 
DATELINE: CHRISTIANSBURG                                 LENGTH: Short

GRANT PROVIDES BUILDING FUNDS FOR ABOUT 20 LOW-INCOME HOMES

Virginia Mountain Housing, a non-profit builder, has received a $1 million grant to construct homes for low-income families, but application standards have changed.

To qualify, applicants must have a good credit history and an annual income not exceeding $25,400 for two or more people in a household.

Prior to this, an applicant could not make more than $18,150 a year.

The grant is from the Virginia Housing Development Authority, an independent financing group whose Affordable Housing Program enables low-income families to buy their first homes with 5 percent mortgages.

The authority's grant will allow Virginia Mountain Housing to build about 20 houses in Radford and the counties of Floyd, Giles, Montgomery and Pulaski.

Construction will begin next month, said Jeff London, assistant to the executive director of Virginia Mountain Housing.

Call 382-2002 for application information.

by CNB