About the Lynchburg Neighborhood Development Foundation

A New Concept in
Home Financing

A new concept in coordinating housing resources for Lynchburg

LNDF offers multiple programs to assist low-income households meet their housing needs. The Foundation proposes to deliver its programs, products, and services through its development and subsidy provider, Lynchburg Neighborhood Development Fund (LNDF), and through its lending component, the Lynchburg Community Loan Fund (LCLF).

Through LNDF, home purchase and home repair subsidies are available, as well as affordable single-family and multi-family development opportunities. LNDF is primarily a packager of funds from a variety of sources, serving persons at incomes at or below 65% of Area Median Income (AMI). Some LNDF subsidies can flow to households with incomes at or below 80% of AMI.

Through LCLF, subordinate mortgages and home repair loans will be provided at competitive interest rates and in combination with subsidies reserved for it by LNDF. All eligible, approved applicants for homeowner loan products will be assisted with loan financing that includes forgivable loans (grants), alone or in combination with affordable-rate lending products. Assistance ranges from down payment and closing-cost assistance, subordinate mortgages, and owner-occupied home repair loans.

Because The Foundation seeks to improve housing conditions in the downtown neighborhoods of Lynchburg, LCLF loans will be available to persons with incomes between 80%-120% of AMI as incentives to purchase or repair homes in these communities.

The Foundation will have a single intake source, using a universal application to gather all relevant information about the applicant and their housing needs. Intake staff will conduct summary underwriting of applicants, analyze their needs and situation, and direct them to the appropriate program staff for processing.