VIRGINIA Down Payment Assistance in 2026: What Actually Qualifies You
Last reviewed: September 2026
Virginia homebuyers don’t necessarily need a 20% down payment. Virginia Housing runs the primary statewide assistance, with a separate DHCD program for lower-income buyers.
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What Down Payment Assistance Programs Are Available in Virginia in 2026?
DPA Grant provides 2% (conventional) or 2.5% (FHA) of purchase price as a true grant — first-time buyers only.
Closing Cost Assistance Grant provides up to 2–2.5% for FHA/VA/USDA borrowers.
Plus Second Mortgage provides 3–5% for down payment plus up to 1.5% for closing costs, as a repayable second — with no first-time-buyer requirement (though typically requires 680+ credit).
DHCD HOMEownership DPA (separate state agency) provides 10–15% of purchase price plus up to $2,500 in closing costs (capped around $40,000), deferred, for buyers at or below 80% AMI.
Can FHA Be Combined With Virginia DPA?
Yes — Virginia Housing’s programs pair with FHA, VA, USDA, and conventional financing through approved lenders.
Are There Local Virginia Down Payment Assistance Programs?
• Arlington County MIPAP — shared appreciation structure
FHA, Conventional, VA, USDA, or DPA — How Do They Compare?
Option | Typical Down Payment | Best Starting Fit | Key Tradeoff |
FHA | 3.5% | Limited savings or flexible credit needs | Upfront and annual mortgage insurance |
Conventional | As low as 3% for qualifying buyers | Stronger credit, lower long-term PMI | More credit-sensitive qualification |
VA | Often 0% | Eligible veterans, service members, spouses | Entitlement and COE required |
USDA | Often 0% | Eligible rural/suburban Virginia properties | Property location and income limits |
FHA/Conventional + Virginia Housing DPA | Reduced by assistance amount | Buyers short on cash who qualify for the loan | Grant vs. Plus Second changes first-time eligibility |
Can Repeat Buyers Get Down Payment Assistance in Virginia?
Yes — the Plus Second Mortgage is Virginia’s non-first-time-buyer DPA vehicle. The DPA Grant and Closing Cost Assistance Grant remain first-time-buyer only.
What Cash Might You Still Need at Closing?
Virginia Housing also offers a 100% financing option combining a first and second mortgage — worth exploring alongside the standard grant programs.
Who Specializes in Down Payment Assistance in Virginia?
Virginia buyers should look for a Virginia Housing-approved mortgage professional who can navigate both the grant programs and the Plus Second Mortgage.
I’m Mike Belfor, Branch Manager and Mortgage Loan Originator with American Pacific Mortgage, NMLS #264700, licensed to originate mortgages in Virginia. My broader mortgage career includes more than 23 years of lending experience, approximately 578 first-time-homebuyer transactions, and approximately 115 transactions involving down payment assistance. Those are career-wide figures, not Virginia-specific production numbers.
Ready to See What You Qualify For?
Reach out and I’ll run your numbers against what’s currently available.
Mike Belfor | Branch Manager – Loan Originator | American Pacific Mortgage | NMLS #264700 | Licensed in Virginia | mikebelfor.com
Program guidelines, rates, income limits, and funding availability are subject to change. Not all borrowers or properties qualify. Information is educational and should be confirmed against current program and underwriting guidelines.
Official Sources - Virginia Housing — Down Payment Assistance Grant
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