Hopeful first-time home buyers in Virginia have access to state programs that can help them make a down payment, pay closing costs or qualify for a home loan. For more than 50 years, Virginia Housing (formerly Virginia Housing Development Authority, or VHDA) has worked with lenders throughout the state to make homeownership a reality for thousands of residents.
Virginia Housing highlights and eligibility requirements
Virginia Housing programs offer first-time home buyers in Virginia helpful benefits, including down payment grants and federal tax breaks.
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Program highlights
Down payment and closing cost assistance grants.
A conventional loan with 3% down and no mortgage insurance.
Offers government-backed loans (some with zero down payment) that can be combined with other Virginia Housing grants and loans.
Eligibility
Required credit score varies by loan or grant program; lowest is 620.
Haven’t owned and occupied a home in the past three years (except in certain areas).
Maximum income and loan limits vary depending on a home’s location and if you’re combining with a grant.
The home must be your primary residence.
Many loans require applicants to complete a free homeownership education class.
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