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If you're trying to buy your first home in Virginia, you've probably run into the biggest roadblock: the down payment. Saving 3% to 20% of a home’s price can feel impossible on a regular salary. But here’s the truth - Virginia has several down payment assistance programs designed exactly for people like you. You don’t need to be rich. You don’t need a family loan. You just need to know where to look.
Virginia Housing Development Authority (VHDA) Programs
The main player in Virginia’s home buying support system is the Virginia Housing Development Authority (VHDA). They’ve been helping first-time buyers since 1972, and their programs are still going strong in 2026. The most popular one is the Virginia Homebuyer Program, which offers up to 5% of the purchase price as a down payment grant. That’s not a loan - it’s free money, as long as you meet the rules.
To qualify, you need to be a first-time buyer, meaning you haven’t owned a home in the last three years. Your income can’t exceed $140,000 for a family of four in most areas. In high-cost counties like Fairfax or Arlington, the limit goes up to $170,000. The home you buy must be your primary residence, not a rental or vacation property.
What makes VHDA stand out is that they combine this grant with low-interest mortgages. You can get a 30-year fixed rate around 5.25% - lower than most private lenders - and you don’t need perfect credit. A credit score of 640 is often enough. Plus, they accept FHA, VA, and USDA loans, so if you’re a veteran or buying in a rural area, you’re covered.
Other State and Local Programs
VHDA isn’t the only option. Cities and counties across Virginia run their own programs, often with even better terms. For example:
- City of Richmond offers the Homeownership Assistance Program, giving up to $25,000 in forgivable grants for buyers in targeted neighborhoods. The grant disappears after five years if you stay in the home.
- Virginia Beach has the First-Time Homebuyer Grant, which provides $10,000 for homes under $450,000. You don’t pay it back, but you must complete a homebuyer education course.
- Hampton Roads has a program that matches your savings dollar-for-dollar up to $10,000. If you save $5,000, they add another $5,000.
These local programs often have lower income limits - sometimes as low as $85,000 - but they’re also more competitive. Spots fill up fast, especially in spring and summer. If you’re serious, start applying in January.
What You Can Use the Money For
These programs aren’t just for the down payment. Most allow you to use the funds for closing costs, too. That’s a big deal - closing costs in Virginia average $3,500 to $7,000, depending on the home price. Some programs even let you use the money for home inspections or repairs, which is rare elsewhere.
For example, if you’re buying a $300,000 home and need $15,000 for down payment and $5,000 for closing, a $20,000 grant from VHDA covers it all. You’d only need to bring $0 to closing - as long as your lender allows it. Not every lender does, so make sure your mortgage broker knows about the program before you apply.
How to Apply
Applying isn’t done online by yourself. You have to work with a VHDA-approved lender or housing counselor. These are not just any real estate agents or banks - they’re trained in state programs and know how to submit the paperwork correctly.
Here’s the step-by-step:
- Find a VHDA-approved lender. You can search the list on the VHDA website - there are over 150 across the state.
- Get pre-approved for a mortgage. This tells you how much you can borrow and what rate you’ll get.
- Ask your lender if you qualify for down payment assistance. Don’t assume - they’ll check your income, credit, and home location.
- Complete a free homebuyer education course. It’s usually 6 to 8 hours and can be done online or in person. Some counties require it; others don’t, but it’s always worth doing.
- Submit your application with your lender. They’ll handle the paperwork with VHDA or the local housing agency.
Timing matters. Applications take 7 to 14 days to process. If you’re under contract on a house, make sure your closing date is at least three weeks out. Otherwise, the money won’t arrive in time.
What Doesn’t Work
Not everyone qualifies. Here are the common mistakes people make:
- Thinking they’re first-time buyers when they owned a home with a spouse five years ago - the rule is three years, not five.
- Buying a condo over $500,000 - most programs cap the home price at $475,000 in most counties.
- Trying to use the grant for a second home or investment property - it’s only for primary residences.
- Waiting until the last minute to apply - programs run out of funds by June each year.
Also, don’t confuse this with the federal first-time homebuyer tax credit. That ended in 2010. Virginia’s programs are grants and low-rate loans - not tax breaks.
Real Example: How Sarah Bought Her First Home
Sarah, a nurse in Roanoke, made $68,000 a year. She saved $8,000 over two years but needed $18,000 for a $320,000 home. She applied through a VHDA-approved lender and got approved for a $10,000 grant. She also qualified for a $2,500 closing cost credit from the county. That left her with just $5,500 to bring to closing - money she had from her savings and a small gift from her parents. She closed in March 2025 with a 30-year fixed rate of 5.1% and no monthly mortgage insurance. She’s now paying less than she did in rent.
Next Steps
Start by visiting the Virginia Housing website. Use their eligibility calculator - it’s free and takes five minutes. Then call a local housing counselor. Many offer free one-on-one sessions. Don’t wait until you find the perfect house. Get pre-approved for assistance first. That way, when you see a home you love, you already know if you can afford it.
There’s no magic trick. But Virginia has made it possible for thousands of regular people to buy homes without waiting decades to save. You just need to take the first step - and ask for help.
Can I use down payment assistance with a VA loan in Virginia?
Yes. Virginia’s down payment assistance programs work with VA loans. In fact, many veterans use VHDA’s program to cover closing costs or to reduce their monthly payment. The VA loan already gives you 0% down, but the state grant can help with fees, repairs, or even buy down your interest rate.
Do I have to pay back the down payment grant?
No, most grants don’t need to be paid back - as long as you live in the home for at least five years. If you sell or move out before then, you might have to repay part of the grant. The exact amount depends on how long you lived there. For example, if you leave after two years, you might repay 60% of the grant. Always read the fine print.
Can I combine multiple down payment programs in Virginia?
Sometimes. You can stack a VHDA grant with a local city grant if both allow it. But you can’t combine two state grants. Also, the total assistance can’t exceed 5% of the home price in most cases. Your lender will know the rules - just ask them to check all options.
What if my credit score is below 640?
You might still qualify. VHDA offers a special program called Credit Builder, which helps people with scores as low as 580. You’ll need to complete financial counseling and show you’ve been making on-time payments for six months. It’s not automatic, but it’s an option.
Are there programs for teachers or first responders?
Yes. Virginia has special programs for educators, police officers, firefighters, and EMTs in certain counties. These often offer higher grant amounts or relaxed income limits. Check with your local housing authority - they may not advertise it widely, but it’s there.