Helping first-time homebuyers reach their dreams.
Virginia Housing’s Down Payment Assistance (DPA) grant can provide eligible first-time homebuyers with funds needed for their down payment. This program is funded through the net earnings of Virginia Housing and is part of our commitment to strengthen homeownership opportunities for Virginians.
- Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment.
- Maximum grant will be 2 - 2.5 % of the purchase price, based on the down payment required for the eligible Virginia Housing loan.
- Minimum credit score: FHA 620 , Fannie Mae No MI 660, Fannie Mae Reduced MI 640.
- Maximum 45.00% DTI
- Buyers must have household incomes at or below
- Down Payment Assistance Grant may be used with eligible Virginia Housing loans only.
- Minimum first mortgage LTV is 90% if the DPA Grant is used with other acceptable non-Virginia Housing funds in accordance with the first mortgage requirements.
- Grant funds may not be paired with the Virginia Housing Plus Second Mortgage.
- Down Payment Assistance Grant has no repayment.
- Virginia Housing’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
Other program requirements may apply. Take the first step to see if you may qualify for this grant by contacting a Virginia Housing-approved lender.
Virginia Housing’s Down Payment Assistance Grant
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