Unlock the door to homeownership with the Virginia Housing Down Payment Assistance (DPA) Grant. With just 1% down, eligible first-time homebuyers can cover the rest through a grant that never needs to be repaid—making your path to a new home more affordable than ever.
The Virginia Housing Down Payment Assistance Grant helps first-time homebuyers by covering 2%–2.5% of the purchase price toward their down payment. Unlike a loan, this grant never has to be repaid. Buyers contribute at least 1% of the sales price, which can come from their own funds or as a gift.
You will only need to make a 1% down payment with the Virginia Housing DPA Grant, which can be sourced from a gift. Most mortgages require at least 3-5% down payment.
This product is a true grant, meaning you will not repay the funds used to supplement your down payment. Other products, such as the Virginia Housing Second Plus, offer down payment assistance in the form of a second loan.
Conventional mortgages require PMI when you buy a house with less than a 20% down payment, which increases your monthly loan payment. The DPA Grant product offers specialized coverage that is substantially cheaper than traditional PMI coverage on Conventional loans.
You will be required to take a free homebuyer education course, with topics including personal finances, credit, budgeting, and the homebuying process. Classes may be attended virtually or in-person and are available in English and Spanish.
Complete our free, online mortgage application, or give us a call. Our expert team assesses all loan applications for down payment assistance eligibility.
Get connected with a CapCenter REALTOR to help you find your first home.
You must attend a Virginia Housing approved homeownership course before closing.
Congratulations on becoming a homeowner! Most closing ceremonies will be conducted by a CapCenter settlement agent.
This product is only available to those buying their primary home in the state of Virginia.
This product is typically reserved for first-time homebuyers, but exceptions may apply.
This product is only available to those below maximum income and sales price limits.
The Virginia Housing Down Payment Assistance (DPA) Grant is a grant that helps qualified first-time homebuyers cover part of their down payment. Unlike a loan, this grant does not need to be repaid.
Eligible buyers may receive up to 2.5% of the purchase price for FHA loans or 2% for Conventional loans. This can significantly reduce the cash you need to bring to closing.
No. The Virginia Housing DPA Grant is a true grant, meaning you never have to repay it as long as you meet program requirements.
While the Virginia Housing DPA Grant does not need to be repaid, federal recapture tax may apply if the home is sold within nine years, the home appreciates in value, and your income increases above allowable limits.
Virginia Housing offers a free homebuyer education course that can be taken online or in-person. The class covers personal finances, budgeting, how to work with your lender and real estate agent, home inspection, the closing process, and your responsibilities as a homeowner. The class is available in both English and Spanish.
Income limits vary based on multiple factors which include:
Virginia Housing maintains an updated record of income limits on their website. Not sure if you meet the income limits? Give us a call or apply online, and one of our expert loan consultants will advise you on eligibility.
Virginia Housing considers first-time homebuyers as anyone who has not owned a primary residence for three consecutive years. Here are some common situations for eligible first-time homebuyers:
