When you're making your first home purchase in Virginia, the initial step toward owning property in the state, often involving specific loan programs and local incentives. Also known as first-time homebuyer in Virginia, it's not just about finding a house—it's about understanding what cash you need upfront, what credit score lenders expect, and where you might get help. Many people think you need 20% down to buy a home, but that’s not true in Virginia. Programs like the VA loan Virginia, a mortgage option for veterans and active military members that often requires no down payment and FHA loan Virginia, a government-backed loan allowing down payments as low as 3.5% make homeownership possible with far less money than most expect.
Your credit score matters more than you think. If you're under 620, you might still qualify for help, but you’ll need to know which lenders in Virginia work with lower scores. The Virginia home credit score, the minimum score required by lenders in the state to approve a mortgage isn’t one fixed number—it changes by program. VA loans can approve buyers with scores as low as 580, while conventional loans may ask for 640 or higher. And if your score is stuck? There are free credit-building resources in Virginia, including workshops from housing counselors approved by the state.
Down payment help isn’t just a myth. Programs like the Virginia homebuyer assistance, state-funded grants and low-interest loans for first-time buyers with income limits can cover part or all of your down payment and closing costs. You don’t have to pay it back if you meet the rules. These aren’t just for low-income buyers—many middle-income families qualify too. In cities like Richmond, Norfolk, or Virginia Beach, local agencies offer extra grants on top of state programs. You just have to ask.
What you’ll find below are real, practical guides written by people who’ve been through it. No fluff. No theory. Just what you need to know: how much cash you actually need to walk into a house, what documents lenders will ask for, how to fix your credit fast, and which programs you might have missed. Whether you’re saving for a down payment, trying to boost your score, or wondering if you can afford a $250k home on a $50k salary, the articles here give you the exact steps—no jargon, no guesswork.
Learn the exact steps, income limits, credit score thresholds, and documentation needed to qualify for Virginia's first‑time homebuyer programs.