See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated March 28, 2026
Homebuyer Programs in Portsmouth, VA (2026)
Portsmouth is a waterfront city in the Hampton Roads region, located across the Elizabeth River from Norfolk with a rich naval history. With a median home price of around $265,000, it offers affordable homeownership opportunities combined with strong local assistance. The Come HOME to Portsmouth program provides up to $20,000 in down payment and closing cost assistance for first-time buyers. The Virginia Housing DPA Grant adds 2% to 2.5% of the purchase price as a free grant, while the DHCD HOMEownership DPA offers up to $40,000 and the Virginia Pilot DPA provides up to $50,000 for income-eligible households. Habitat for Humanity of South Hampton Roads also serves Portsmouth. Combining these programs can make homeownership achievable for many families.
City Programs in Portsmouth
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Come HOME to Portsmouth Down Payment Assistance Program | Deferred Loan | Up to $20,000 for down payment and closing costs | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Up to $20,000 for down payment and closing costs
- First-time only:
- Yes
State Programs in Virginia
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| DHCD HOMEownership Down Payment Assistance Program | Deferred Loan | Up to 10% to 15% of the sales price plus up to $2,500 for closing costs. Maximum assistance of $40,000. | Yes | View → |
| Virginia Down Payment Assistance Pilot Program | Deferred Loan | Up to $50,000 | Yes | View → |
| Virginia Housing Closing Cost Assistance Grant | Grant | Up to 2% of the purchase price | Yes | View → |
| Virginia Housing Down Payment Assistance Grant | Grant | 2% to 2.5% of the purchase price | Yes | View → |
| Virginia Housing SPARC Program | Zero-Interest Loan | 1 percentage point reduction on Virginia Housing first mortgage interest rate | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Up to 10% to 15% of the sales price plus up to $2,500 for closing costs. Maximum assistance of $40,000.
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $50,000
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to 2% of the purchase price
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- 2% to 2.5% of the purchase price
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- 1 percentage point reduction on Virginia Housing first mortgage interest rate
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Habitat for Humanity of South Hampton Roads Homeownership Program | Zero-Interest Loan | Affordable home purchase with 30-year fixed-rate mortgage capped at 30% of household income | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home purchase with 30-year fixed-rate mortgage capped at 30% of household income
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. The Come HOME to Portsmouth program has specific income limits: $46,200 for a 1-person household up to $87,150 for an 8-person household (at or below 80% AMI).
Step 2: Complete homebuyer education through a HUD-approved housing counseling agency in the Hampton Roads area.
Step 3: Contact the Hampton Roads Planning District Commission or City of Portsmouth to apply for the Come HOME program (up to $20,000 in assistance).
Step 4: Contact a Virginia Housing-approved lender to access the state DPA Grant (2% to 2.5% of purchase price) and determine which loan product fits your needs.
Step 5: Explore additional state assistance through a DHCD-approved local provider for the HOMEownership DPA (up to $40,000) or Pilot Program (up to $50,000).
Step 6: Get pre-approved, find a home within the City of Portsmouth, and complete the formal application process.