Down payment assistance, grants, forgivable loans, and tax credits available to Virginia buyers. Each program below is verified, with eligibility rules, benefit amounts, and a direct link to the official agency.
Last reviewed September 2026·4 programs·6 federal programs
Virginia Housing Closing Cost Assistance (CCA) Grant
Administered by Virginia Housing
Up to 2% of the purchase price (lesser of sales price or appraised value)
True grant with no repayment, used only for closing costs, discount points, prepaids and the RD guarantee fee or VA funding fee; available only with Virginia Housing RD (USDA) Bond or VA Bond first mortgages; cannot be combined with the DPA Grant or Plus Second Mortgage but may be combined with outside DPA.
Income limit
Virginia Housing Lower Income Limits apply (household income of all members); standard/bond, targeted-area and expanded limits do not apply
First-time buyer requiredYes
Special requirements: First-time homebuyer per bond rules unless purchasing in a targeted area; grant cannot exceed closing costs; credit score and other terms follow the first mortgage
View official program page
Apply through a Virginia Housing approved lender with an RD Bond or VA Bond first mortgageVerified September 2026
Virginia Housing Down Payment Assistance Grant
Administered by Virginia Housing
2% (conventional) or 2.5% (FHA) of purchase price
Grant for down payment and closing costs. Does not need to be repaid. Cannot be combined with the Plus Second Mortgage.
Income limit
Lower DPA-grant income limits apply; 1% of own funds required
Minimum credit score620
First-time buyer requiredYes
Special requirements: Must use Virginia Housing first mortgage. Homebuyer education required.
Interest rate 2 percentage points below Virginia Housing's posted rate
Reduced-rate first mortgage (Conventional Bond, FHA Bond, VA Bond or RHS Bond) for first-generation homebuyers, locked through an approved FirstHome Dream sponsor/HUD-approved housing counselor; can be combined with the Plus Second Mortgage, DPA Grant or CCA Grant.
Income limit
Virginia Housing bond-loan income limits apply
First-time buyer requiredYes
Special requirements: All borrowers (and spouse) have never owned any home; borrowers' parents/legal guardians have not owned a home in the last 3 years (heirs' property excluded); notarized First Generation Homebuyer Affidavit required
View official program page
Contact a Virginia Housing-approved lender, who connects the buyer with a FirstHome Dream sponsor/housing counselorVerified September 2026
Virginia Housing Plus Second Mortgage
Administered by Virginia Housing
3% (conventional) or 3.5% (FHA) of purchase price; 4.5% / 5% with a 680+ credit score (extra 1.5% for closing costs)
Fully amortizing 30-year fixed-rate second mortgage (not deferred) that funds the entire down payment and, with a 680+ score, part of closing costs; must pair with a Virginia Housing Conventional/FHA (or Bond) first mortgage; cannot be combined with the DPA Grant or CCA Grant
Income limit
Follows first-mortgage limits: standard/bond household-income limits with Conventional Bond or FHA Bond first mortgages; expanded borrower-income limits with non-bond Conventional or FHA first mortgages
Minimum credit score620
First-time buyer requiredNo
Special requirements: Must use with Virginia Housing first mortgage.
3% minimum down payment with no minimum borrower contribution; income at or below 80% AMI (2026 AMIs effective June 13, 2026); reduced, cancellable mortgage insurance; $2,500 credit for very low-income first-time buyers on loans purchased through February 28, 2027.
Do I have to be a first-time homebuyer to qualify?
Most Virginia programs require first-time buyer status, but the definition is broader than most people think — the IRS considers you a first-time buyer if you haven't owned a primary residence in the last three years. Each program above lists its specific rules.
What credit score do I need?
Minimum credit scores vary by program. Most Virginia programs require 620 to 660, though some lower-tier products accept lower scores with manual underwriting. Check each program's eligibility section above.
How do I actually apply?
Most state programs aren't applied to directly — you go through a participating lender, who handles the program application as part of your mortgage. Each program above links to the official agency page with the current list of approved lenders.
Can I combine multiple programs?
Often yes — many states allow you to stack a state down-payment grant with a federal FHA or VA loan. Some programs explicitly forbid combining; check each program's "special requirements" above.
Do these programs cost anything?
The programs themselves are free to apply for. Some require completing a homebuyer education course (typically $50–$100, sometimes free). Forgivable second mortgages technically don't cost you unless you sell or refinance early — read the terms carefully.
