Virginia Down Payment Assistance: What First-Time Buyers Need to Know

If saving up for a down payment in Virginia feels impossible, you’re not alone. The good news is, Virginia actually has real, working programs that help people cover down payment costs—especially if you’re buying for the first time. A lot of folks think these programs are hard to get or meant only for certain people. But if you’re willing to do some paperwork (and maybe read some fine print), there’s a good chance you can qualify for assistance that cuts thousands off what you need to bring to closing.
Virginia’s State Housing programs were designed specifically to help regular buyers get their foot in the door. There are state-funded grants, loans with deferred payments, and sometimes even local city or county programs that throw in a bit of extra help. If this is all new to you, don’t panic—most of these don’t require perfect credit or a super-high income. Sure, there are rules, but I’ve seen friends (and honestly, Jenna and I helped her brother use one last year) unlock a way into the housing market they just couldn’t manage on their own.
Understanding exactly what Virginia offers and what you need to qualify will save you endless headaches—and possibly a pile of cash. Let’s cut through the red tape and get you closer to your first set of house keys.
- Virginia's Main Down Payment Programs
- Who Qualifies for Assistance
- How Much Help Can You Get
- How to Apply (and What to Expect)
- Common Issues and Mistakes
- Extra Tips for Virginia Buyers
Virginia's Main Down Payment Programs
Virginia isn’t messing around when it comes to down payment help. The big player here is the Virginia Housing (formerly VHDA) loan and grant programs. These are aimed squarely at first-time buyers who need a leg up to get started. Most folks look at the following options first:
- Virginia Housing Down Payment Assistance Grant. This one’s super popular because it’s straight-up grant money—a real gift, not a loan. You could get up to 2-2.5% of the purchase price (depends on loan type). They also throw in free homebuyer classes, which actually teach you the gritty basics.
- Virginia Housing Plus Second Mortgage. This paired-loan deal covers your entire down payment (up to 100% financing) using a second loan alongside your main one. There’s no monthly payment on that second piece until you sell or pay off your main mortgage—great if you’re tight on savings but have steady income.
- Local City & County Programs. Depending on where you’re buying, some towns like Alexandria, Arlington, or Richmond have their own home assistance programs. These can stack with state programs and add a couple thousand bucks toward both down payment and closing costs.
- Federal Support Options. If you’re a veteran, the VA loan through the federal government is still hard to beat for $0 down. There’s also USDA and FHA loans with smaller down payment needs, and Virginia’s state programs can usually work with those too.
You don’t need a perfect credit score to tap into these options (mid-600s for credit is usually fine). There are also income limits—Virginia wants to help the average household, not just high earners. Here’s a side-by-side look at some program basics for 2025:
Program | Eligibile Buyers | Type | Typical Amount |
---|---|---|---|
Virginia Housing Grant | First-timers | Gift/Grant | 2-2.5% of purchase price |
Plus Second Mortgage | First-timers | Deferred Loan | Up to full 3-5% down payment |
Local City/County Help | First-timers & Some Repeats | Grant/Zero-Interest Loan | $2,500–$10,000 |
If you’re feeling overwhelmed by the options, remember this: The main programs are designed for regular people, and real estate agents or loan officers who work with first-time buyers know the ropes. Ask about stacking programs to squeeze the most help out of what’s available in Virginia.
Who Qualifies for Assistance
Not everyone can just walk in and grab Virginia down payment help—there are pretty clear rules. First off, you usually have to be a first-time homebuyer. That means you haven’t had your name on a house or a mortgage in the last three years. If you owned a place before (even out of state) but it's been more than three years, you’re good to go again.
Income limits are another big one. Most of Virginia’s programs set a cap based on where you’re buying and how many people are in your household. For example, in 2024, the statewide income limit for a family of four using the official first-time buyers grant was around $110,000, but spots like Northern Virginia let you earn a little more. Here’s a summary so you have an idea:
Area | Household Size (Max Income) |
---|---|
Richmond Metro | 1-2: $87,800 / 3+: $101,000 |
Northern Virginia | 1-2: $114,250 / 3+: $132,800 |
Roanoke | 1-2: $81,200 / 3+: $93,500 |
Credit score matters, but you don’t need a 750 to be eligible. For most state-backed options, your score just needs to hit 620 or higher. Some city and nonprofit programs will let you go lower if you take a homebuyer education course.
You also have to plan to live in the house. You can’t buy a place, move out, and rent it out next month. These home assistance programs are for folks who actually need a place to live, not investors or weekend flippers.
- Be a first-time buyer (no home ownership in 3+ years, with rare exceptions)
- Meet local income limits
- Have a decent credit score (usually 620+)
- Plan to live in the house for at least a year
If you’re not sure whether you’re a fit, talk to a Virginia Housing-approved lender. They check everything against the exact rules and can tell you right away if you qualify for VA housing grants, local help, or both.
How Much Help Can You Get
Let’s talk numbers, because that’s what matters when you’re buying your first home in Virginia. The main Virginia down payment assistance programs usually offer anywhere from $2,500 up to $15,000 for most buyers, with a few programs helping you cover even more, depending on where you’re buying and what you qualify for.
The most popular option, the Virginia Housing Down Payment Assistance Grant (often called VHDA), hands out grants up to 2% of your home’s purchase price for qualifying buyers. Say you’re buying a $350,000 home—that’s $7,000 you don’t have to save up! The grant never needs to be repaid, either. There’s also the Virginia Housing Plus Second Mortgage, which helps you borrow up to 5% of the purchase price as a zero-interest, no-payment second loan. That gives you time to get on your feet as a new homeowner before you ever have to think about paying it back.
Some cities and counties in Virginia take things even further. For example, Fairfax County’s First-Time Homebuyers program can provide up to $10,000 as a forgivable loan. Richmond has its own Homebuyer Assistance Program with options up to $20,000—especially if you’re buying inside city limits and meet credit and income rules.
Program | Max Amount | Type |
---|---|---|
Virginia Housing Down Payment Grant | 2% of price (up to $8,000) | Grant, no repayment |
Virginia Housing Plus Second Mortgage | 5% of price | 0% loan, deferred |
Fairfax First-Time Program | $10,000 | Forgivable loan |
Richmond Assistance | $20,000 | Forgivable loan/grant |
Bottom line: If you’re shopping around Virginia, you could get thousands shaved off your upfront costs. Your final number depends on the exact program you use, where you buy, your income, and sometimes even your profession (teachers, first responders, or veterans often get a little extra).
It’s worth taking a few minutes to ask your lender what’s available in your city or county—you might be surprised by what you qualify for with these first-time buyers and home assistance deals. Don’t just assume you make too much or that the programs are too complicated. Many buyers find the real hang-up isn’t the paperwork—it’s just not knowing this help exists.

How to Apply (and What to Expect)
Getting help with your Virginia down payment isn’t a magic button, but the process is actually pretty straightforward. The main state program, the Virginia Housing Down Payment Assistance Grant, runs through approved lenders. These are real banks and mortgage companies you’ve probably heard of. Virginia Housing (used to be VHDA) isn’t going to send you a check directly; instead, you’ll work with your loan officer to add the assistance to your regular mortgage application.
Here’s how it works:
- Check Your Eligibility: First, use the Virginia Housing online eligibility tool or talk to a lender about your credit score, household income, and property location. Most programs want a credit score of 620 or better and a moderate income (think less than $150K/year for a family in much of the state).
- Choose a Lender: Not every mortgage company can do down payment assistance in Virginia. Look for "Virginia Housing-Approved" lenders—there are over 100 across the state.
- Take the Required Class: The state wants you to take a short (but helpful) online homebuyer education class, which is free and takes a couple of hours. You get a certificate that you’ll need to show when you apply.
- Apply for Your Loan + Assistance: Fill out the normal mortgage application and let your lender know you want to use down payment help. They handle the paperwork to bundle it with your main loan—no separate forms for you to track down.
- Wait for Processing: The lender does most of the heavy lifting, submitting your application and certificate. The state’s review usually happens within a week or two, right along with your regular mortgage approval.
- Closing: If approved, your down payment assistance kicks in at closing. You’ll see the amount on your closing disclosure—less cash out of your pocket up front.
If you’re going for one of the city or county programs (like in Fairfax or Richmond), you’ll often need to fill out a separate application with the local housing department. Most of these want proof of income, tax returns, and maybe a few pay stubs.
Here's a quick look at typical timelines:
Step | Typical Timeframe |
---|---|
Get pre-qualified | 1-3 days |
Homebuyer education | 1 day (self-paced online) |
Loan application & DPA submission | 1 week |
Approval from Virginia Housing | 5-14 days |
Closing | 30-45 days from initial application |
The best part? You don’t pay extra for Virginia down payment assistance. If your lender asks for extra fees, something’s off. And remember, getting started early—before you go house shopping—makes the whole process way less stressful.
Common Issues and Mistakes
If you’re hunting for Virginia down payment help, a few slip-ups can slow you down or cost you money. First up, people often wait too long to look into programs. Lots of first-time homebuyers in Virginia don’t realize they need to get approved—sometimes even before they pick out a house. These home assistance grants usually come with their own paperwork, deadlines, and rules about working with approved lenders. Miss one deadline, and you’re out of luck for months.
Another big one: misunderstanding the income limits. Every program in Virginia sets a cap based on where you want to buy and how many are in your household. It changes every year. What tripped up Jenna’s cousin last spring was thinking "I make too much." After double-checking, she was actually well under the local cutoff, but almost skipped free money out of fear.
Watch out for double-dipping rules. If you’re getting money from one VA housing grant or local source, some won’t let you stack programs—even if they sound different. Confirm with your loan officer or program manager before counting on both city and state help. Here’s the thing: getting denied because you accidentally qualified for two overlapping programs is the kind of headache nobody warns you about during your mortgage search.
And let’s talk about credit. While you don’t need a perfect score, most programs still expect a minimum—usually around 620 for mortgage help in Virginia. A lot of buyers apply, not realizing their credit report has mistakes dragging down their numbers. Always pull your credit early and dispute any weird stuff before you get too deep in the process.
Probably the most annoying mistake? Not reading the fine print about "recapture" or payback policies. A few zero-interest loans turn into real debt if you sell too soon or refinance. Suddenly, the assistance that felt like a gift is a bill you never expected. Double-check these clauses so you don’t get a nasty surprise if you move out within a few years.
Just to give you a side-by-side idea, here’s how income caps and credit requirements look for a couple of the biggest programs:
Program | Max Income (Family of 2, Richmond area) | Minimum Credit Score |
---|---|---|
Virginia Housing DPA Grant | $98,775 | 620 |
City of Alexandria DPA | $96,900 | 640 |
So, the bottom line? Don’t assume you’re out of the running based on old info or what you heard at work. Double-check every number and always ask questions. It’s your money—don’t let small avoidable errors keep you from landing a solid Virginia down payment deal.
Extra Tips for Virginia Buyers
Let’s make the most out of those Virginia down payment programs and get your first place without tripping on stuff that slows everyone else down. Here’s what’s actually helpful if you want to play it smart as a first-time buyer in Virginia:
- Check every option, not just the state programs. A lot of cities (like Richmond and Virginia Beach) have their own grants and special loans if you buy in certain neighborhoods. Some employers—even hospitals and county offices—offer help too. Stack these if you can; it’s not cheating, it’s just using the system.
- Watch for income limits and different rules. Don’t assume you’re out if your income is slightly above the cutoff. Some programs count household income, others just yours or your spouse's. Ask your loan officer to double-check for you.
- Use a lender who knows this stuff. Not every lender can handle these home assistance programs. Ask straight up: Do you work with Virginia Housing? Can you process local city grants? If they sound confused, look elsewhere. You need someone who actually gets it.
- Credit rules are a bit looser than you’d think. For some Virginia loans, they’ll go down to a 620 score, sometimes lower if you do extra homebuyer classes. Don’t let so-so credit stop you from asking.
- Get your paperwork lined up early. These programs need lots of proof: taxes, pay stubs, W2s, sometimes even childcare expenses. The faster you hand that stuff over, the faster you get approved.
Here’s a quick look at some popular city-specific options across Virginia right now:
Location | Max Down Payment Help | Extra Notes |
---|---|---|
Richmond | $20,000 | Can be layered with state grants; homebuyer class required |
Norfolk | $14,500 | Must meet moderate income limits; home must be primary residence |
Loudoun County | $10,000 | Special bonuses for teachers, first responders |
One last tip: Don’t be afraid to ask dumb questions. The people running these programs want families in homes—they're usually happy to walk you through the process. If you stick with it and use every bit of help on the table, your shot at a first-time buyer success story in Virginia is a whole lot more likely.