Down Payment Assistance Grant
If making a down payment is a barrier to buying your first home, the Down Payment Assistance Grant may help by reducing the time it takes to save for your down payment.
Get to Know This Grant
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What Is It?
The Down Payment Assistance Grant is a true grant, meaning you never need to repay it. It can be paired with a Mortgage Credit Certificate (MCC) as well as with other non-Virginia Housing assistance.
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Eligibility Requirements
To receive a Down Payment Assistance Grant, a homebuyer must:
- Be a first-time homebuyer or repeat buyer purchasing in Areas of Economic Opportunity
- Have an FHA or Conventional / Conventional No MI loan from Virginia Housing
- Have a household income within Virginia Housing’s income limits
- Be within Virginia Housing’s sales price / loan limits
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How Does It Work?
The Down Payment Assistance Grant may only be used with eligible Virginia Housing loans.