DHCD HOMEownership Down Payment Assistance Program
Funding status: Active
How much assistance
Up to 10% to 15% of the sales price plus up to $2,500 for closing costs. Maximum assistance of $40,000. (Deferred Loan)
Forgiveness terms vary by local provider. Typically a deferred, forgivable loan with an affordability period.
Eligibility
- Income limits: At or below 80% of the Area Median Income (AMI).
- First-time buyer required: Yes — Must be a first-time homebuyer.
- Geographic restrictions: Available statewide through local DPA providers.
- Homebuyer education required: Yes
How to Apply for DHCD HOMEownership Down Payment Assistance Program
Step 1: Contact a local DHCD-approved DPA provider in your area to apply. Complete homebuyer education from a HUD-certified agency with a HUD-approved housing counselor. Income must be at or below 80% AMI.
Notes
Administered through local DPA providers across Virginia. The 15% assistance level is available in certain DHCD-approved areas. Funded through federal HOME Investment Partnerships Program.