(This version of this program has been discontinued. Please view the current Down Payment Assistance Grant program page for more information.)

This could be your first-time homebuyer’s best shot. VHDA’s Down Payment Assistance (DPA) grant can provide eligible first-time homebuyers with funds needed for their down payment.

DPA Lender Resources:

 DPA Program Guidelines and Limits

 User Guide: Mortgage Cadence / DPA

 Reserving a DPA Grant Tutorial

 DPA flyer for your clients

 Customizable DPA flyer

About VHDA’s Down Payment Assistance Grant:

• Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment.
  
  
• Maximum grant will be 3 - 3.5% of the purchase price, based on the down payment required for the eligible VHDA loan.
  
  
• Buyers must have household incomes at or below program limits.
  
  
• Down Payment Assistance Grant may be used with eligible VHDA loans only.
  
  
• Grant funds may not be used in combination with other down payment assistance resources (including FHA Plus).
  
  
• Down Payment Assistance Grant has no repayment.
  
  
• VHDA’s eligible first mortgage must be locked on or after the program implementation date.
  
  
• The eligible first mortgage must be locked prior to reserving the grant funds.
  
  
• All borrowers receiving this grant are eligible for a Mortgage Credit Certificate (MCC). Borrowers must apply for an MCC through an approved MCC lender and receive an MCC commitment / approval prior to closing. (An MCC is a dollar-for-dollar credit against your federal income tax liability. For information about MCCs, visit vhda.com/MCC.)
  
  
• Other program requirements may apply.
  
  

Questions About the DPA Grant Program? Please contact your VHDA Business Development Officer or VHDA Single Family Underwriting 800-227-8432