These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Virginia 

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Virginia Housing Down Payment Assistance (DPA) Grant

  • Assistance: Provides up to 2.5% of the home’s purchase price for down payment assistance.

  • Terms: No repayment required.

  • Eligibility: First-time homebuyers using a Virginia Housing loan; income limits vary by county and household size.

  • More Information: Virginia Housing DPA Grant

Virginia Housing Plus Second Mortgage

  • Assistance: Provides up to 5% of the home’s purchase price for down payment and closing costs.

  • Terms: 0% interest second mortgage, repaid when the home is sold, refinanced, or paid off.

  • Eligibility: First-time and repeat homebuyers who meet income and credit requirements; income limits based on AMI.

  • More Information: Virginia Housing Plus Second Mortgage

Virginia Department of Housing and Community Development (DHCD) Down Payment Assistance Program

City of Richmond – Homebuyer Assistance Program

  • Assistance: Provides up to $15,000 in down payment and closing cost assistance.

  • Terms: Forgivable after a set period.

  • Eligibility: Homebuyers purchasing in Richmond city limits; income limits based on HUD guidelines.

  • More Information: Richmond Homebuyer Assistance

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Arlington County – Moderate-Income Purchase Assistance Program (MIPAP)

Loudoun County – Homeownership Loan Programs

  • Programs:
    • Down Payment/Closing Cost Assistance (DPCC) Program

    • DPCC Plus Program

    • Public Employee Homeownership Grant Program (PEG)

    • Sponsoring Partnerships and Revitalizing Communities (SPARC) program

  • Eligibility: First-time homebuyers and public employees purchasing within Loudoun County.

  • More Information: Loudoun County Homeownership Loan Programs

Prince William County – First-Time Homebuyers (FTHB) Program

  • Assistance: Provides loans for down payment and closing cost assistance.

  • Eligibility: Low- and moderate-income first-time homebuyers in Prince William County.

  • More Information: Prince William FTHB Program

Henrico County – First-Time Homebuyers Down Payment and Closing Cost Assistance

  • Assistance: Offers financial assistance with down payment and closing costs.

  • Eligibility: First-time homebuyers in Henrico County; income limits apply.

  • More Information: Henrico County Homebuyer Assistance

Hampton Roads Region – Homebuyer Assistance Programs

Note: Program availability and terms can change.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.