Virginia Housing Loan Options

Free Homebuyer Class (Required)
Required for all VA Housing loans

• Income & Loan Limits
  Check if your household qualifies.

• Find an Approved Lender Locate a lender near you
• Find a Real Estate Agent Connect with trained professionals

Down Payment Assistance Grant

For qualified first-time homebuyers

• Grant Amount: 2% - 2.5% of the purchase price
• Repayment: None. It is a true grant
• Requirement: Must be used with an eligible Virginia Housing bond loan

Closing Cost Assistance Grant

Reduces out-of-pocket expenses for specific loans

• Grant Amount: Max 2% of the purchase price
• Use Funds For: Closing costs, RHS guarantee, or VA funding fee
• Eligible Loans: Must be used with RHS or VA bond loans

Community Heroes Grant

$10,000 grant for those who serve our communities

• Who Qualifies: Educators, Law Enforcement, Healthcare workers, Firefighters, and Military/Veterans
• Benefit: $10,000 toward down payment/closing costs. Never paid back

➕ Plus Second Mortgage

Eliminates the down payment requirement

• Structure: Pairs a first mortgage with a second mortgage to cover the down payment
• Amount: 3% - 5% of purchase price as a second loan
• Availability: Open to first-time AND repeat buyers

Conventional

3% down payment (or less with DPA). Minimum credit score of 640

FHA Loan

3.5% down. Flexible credit qualifying with scores as low as 620

VA & USDA

100% financing options for Veterans and eligible rural properties