Virginia DHCD HOMEownership Down Payment and Closing Cost Assistance
A deferred loan toward the down payment and closing costs for first-time buyers at or below 80% of area median income, delivered through local providers.
- Run by
- Virginia Department of Housing and Community Development (DHCD), through local nonprofit providers
- Serves
- Anywhere in Virginia
- Phone
- 804-371-7000
- Last checked
Who it's for
- First-time homebuyers
- Household income at or below 80% of area median income
What you get
- DHCD describes a deferred loan of up to 10% of the sales price (15% in DHCD-approved areas), plus up to $2,500 toward closing costs, with a $40,000 maximum
- No payments or interest while you live in the home for the required period
How to start
- Contact a local DPA provider from DHCD's provider list, linked on its down payment assistance page.
Good to know
- Funding is set each year. Ask the provider whether money is available before you count on it.
See what else may fit
The free 2-minute check shows which assistance programs may match a home or area you're considering.
Similar programs
- HOME of VA First-Time Homebuyer Program · Nonprofit, HUD-approved counseling agency
- City of Richmond Employee Homebuyer Assistance · Employer program
- SCDHC Down Payment Assistance and Homebuyer Counseling · Nonprofit, HUD-approved counseling agency
- Virginia Down Payment Assistance Pilot · State department
Sources
Program rules, amounts and funding change often, and funds can run out. Confirm everything with Virginia Department of Housing and Community Development before you rely on it. Martin Kurylowski and Real Broker, LLC are not affiliated with this program and are not lenders or administrators of any assistance program. You're free to work with any agent and any lender.