Attention first-time home buyers! The VI Housing Authority has introduced a program called “VI Slice” to assist residents with purchasing their first home.  As a first home buyer the program is equipped to offer up to $200,000 assistance to qualifying buyers.  If you are

  • a current resident for the past 3 years or more
  • a former resident of 10 years or more
  • or were born in the VI

You have filled the first criteria to qualify. The other requirements include a Homebuyer Education Certificate, minimum credit score, minimum earnest money deposit, and household income restrictions.

There are 6 lending options for home buyers wishing to utilize this program.  Buyers will need to work with one of these primary lending institutions and their Realtor to ensure all parties are informed of the process. Once qualified and approved the sale of the home will proceed as normal.  The new homeowner must reside in the home for 10 years, and there will be an annual certification to prove this.  At the end of 10 years this loan will officially become a grant – requiring no repayment!

If you would like to explore this option, please give us a call! Our agents would be thrilled to help any long term residents find their first home on St. John!


Written by KC Bsisu