Virginia first-time home buyer programs
Virginia Housing lists 3 programs that help buyers in Virginia with the down payment or closing costs. Amounts and terms are shown as the agency publishes them.
- Programs from the agency
- 3
- Biggest amount listed
- 5% of the loan
- First-time buyers only
- 2 of 3 programs
- Income caps
- Up to $245,000
Down payment assistance programs in Virginia
| Program | Amount | Grant or loan | Income limit | First-time buyers only |
|---|---|---|---|---|
| Down Payment Assistance Grant. With a Virginia Housing Conventional Bond or FHA Bond loan. | Up to 2.5% of the price or value | Grant: A gift, not a loan; it never has to be repaid. | Must be within Virginia Housing's lower income limits for this grant. | Yes, with exceptions |
| Closing Cost Assistance Grant. With a bond Rural Development (RD) or Veterans Affairs (VA) loan from Virginia Housing; price limit must be within Virginia Housing's sales price / loan limits. | Up to 2% of the price | Grant: A grant that never has to be repaid. | Your income must be within Virginia Housing’s income limits. | Yes, with exceptions |
| Virginia Housing Plus Second Mortgage. With a bond or non-bond FHA or conventional loan from Virginia Housing. | Up to 5% of the price | Repayable loan: Repaid as a 30-year fixed-rate second mortgage, with no fee for paying it off early. | Varies by county and household size, up to $245,000 (higher in targeted areas) Agency income chart | No |
Usually, "first-time buyers only" means you haven't owned a home during the past three years, though every program sets a rule of its own. The name of each program links to a Virginia Housing page that says whether applications are open right now. The agency also maintains its own list of participating lenders. Compare down payment assistance programs across all states, or ask a lender that works with Virginia's programs.
How do you repay Virginia's programs?
- Grant: money you never pay back, used for the down payment or closing costs.
- Repayable loan: a small second mortgage you pay back monthly, usually along with your first mortgage payment.
How does your income compare with Virginia's caps?
Every program has its own income cap, which the table shows, and the exact chart is on that program's agency page. Use the HUD income limits lookup (FY2026) to find the figure for your county and household size. If a program relies on its own county chart or Freddie Mac's, the result can differ from HUD's number, and the agency's chart decides.
| HUD area | Median family income | HUD low-income limit |
|---|---|---|
| Richmond | $113,500 | $90,800 |
| Washington-Arlington-Alexandria | $166,100 | $106,800 |
| Virginia Beach-Norfolk-Newport News | $107,700 | $86,150 |
| Charlottesville | $139,800 | $106,800 |
| Roanoke | $98,500 | $78,800 |
HUD uses about 80% of the median as a starting point. Its own caps can hold that number down, including a yearly cap on increases, so the low-income limit is under 80% in a few areas.
Talk to a lender that works with Virginia programs
These programs are paid out through the agency's approved lenders, so the lender is your next step. Tell us where you're buying and a lender that works with Virginia's programs can explain which ones fit you.
Rather not call? Send your details and the lender will reach you.
Are you buying near a state border?
District of Columbia, Kentucky, Maryland, North Carolina, Tennessee, West Virginia or programs for all 50 states plus DC.