Last updated: September 1, 2026 · Verified against VHDA, HUD, FHA official data
Virginia First-Time Home Buyer Programs 2026: VHDA Grants & DPA Guide
The Virginia Housing Development Authority (VHDA) offers up to $20,000 in down payment assistance at 0% interest — fully forgiven after just 5 years. Combined with an FHA or VA loan, you can buy a home in Virginia with virtually $0 out of pocket. Here's everything you need to qualify and apply.
Max DPA
$20,000
Interest on DPA
0%
Min Credit
640
Forgiveness
5 Years
⚠️ ATTENTION: NOT ALL LENDERS ARE APPROVED FOR VHDA PROGRAMS
Don't Waste Time with the Wrong Lender — Most Are Not VHDA-Approved
The VHDA program requires you to work with a VHDA-approved participating lender. Using a lender that isn't certified means your $20,000 DPA grant disappears — even if you qualify. Don't waste weeks in underwriting only to find out at closing. Match with a verified VA-approved lender right now:
🏆 Top 5 VHDA-Approved Lenders in Virginia (2026)
You must use a VHDA-approved lender to get the $20,000 DPA grant. Here are the top 5 ranked by rate, fees, and VHDA expertise:
| # | Lender | Rate | Fees | Min Credit | Close | Best For | Apply |
|---|---|---|---|---|---|---|---|
| #1 | Rocket Mortgage 🏆 BEST OVERALL | 6.50% | 0.5% | 640 | 21-30d | Best overall + fastest close | Apply → |
| #2 | Veterans United 🎖️ VA SPECIALIST | 6.25% | 0.5% | 640 | 30-40d | Best for VA + VHDA combo (Hampton Roads) | Apply → |
| #3 | Atlantic Bay Mortgage 🏦 VA LOCAL | 6.45% | 0.5% | 640 | 30-45d | Best VA-local VHDA expert (Virginia Beach HQ) | Apply → |
| #4 | Guild Mortgage 📋 DPA EXPERT | 6.55% | 0.5% | 640 | 30-40d | Best for VHDA Plus DPA programs | Apply → |
| #5 | Fairway Independent ⭐ TOP RATED | 6.50% | 0.5% | 640 | 25-35d | Highest customer rating 4.7/5 | Apply → |
Rates shown are estimates for VHDA first mortgage + DPA. Your actual rate depends on credit score, DTI, and loan type. Compare personalized rates →
VHDA Down Payment Assistance: How the $20K Grant Works
VHDA is one of the best down payment assistance programs in the Mid-Atlantic. Here's how it works:
- ✓Up to $20,000 (5% of purchase price)
- ✓0% interest — no interest ever
- ✓No monthly payments on DPA
- ✓Forgiven at 20%/year starting Year 1
- ✓Fully forgiven after 5 years — stay 5 years, it's free
- ✓Use for down payment and/or closing costs
- ★Below-market 30-year fixed rate
- ★Typically 0.25-0.50% below market rate
- ★Available with FHA, VA, USDA, Conventional
- ★No prepayment penalties
- ★Homebuyer education required (free online)
Real Example: Buying a $450,000 Home in Virginia with VHDA
With VHDA Plus + FHA
- Home price: $450,000
- FHA down payment (3.5%): $15,750
- VHDA Plus DPA: -$20,000
- Your out-of-pocket: $0
- Plus $4,250 toward closing costs!
Monthly Payment Estimate
- First mortgage (VHDA FHA, 6.25%): $2,466/mo
- FHA MIP: $225/mo
- Property taxes (est.): $375/mo
- Homeowners insurance: $150/mo
- DPA payment: $0/mo
- Total: ~$3,216/month
VHDA Income Limits & Purchase Price Limits 2026 by County
| County / Region | 1-2 Person | 3+ Person | Max Purchase Price |
|---|---|---|---|
| Fairfax County (Northern VA) | $156,000 | $179,000 | $715,000 |
| Loudoun County | $156,000 | $179,000 | $715,000 |
| Arlington County | $156,000 | $179,000 | $715,000 |
| Prince William County | $134,000 | $153,000 | $571,000 |
| Henrico County (Richmond) | $122,000 | $140,000 | $475,000 |
| Virginia Beach City | $122,000 | $140,000 | $541,287 |
| Roanoke County | $108,000 | $124,000 | $400,000 |
| Most Rural VA Counties | $98,000 | $112,000 | $375,000 |
Income limits based on VHDA 2026 guidelines. Check approved lenders for your exact county limits.
Compare VHDA-Approved Lenders in 60 Seconds
Get quotes from 5+ VHDA-approved lenders. Soft pull, no credit impact, no obligation.
Compare VA Lenders →Step-by-Step: How to Apply for Virginia VHDA DPA
Complete Homebuyer Education
Take a HUD-approved 8-hour homebuyer education course. Available online through VHDA's approved providers (~$75-99). You receive a certificate valid for 1 year.
Get Pre-Approved with a VHDA-Approved Lender
VHDA must be processed through an approved lender. There are 100+ approved lenders statewide. They will determine your eligibility and the maximum DPA you qualify for.
→ Find VHDA-approved lenders near you →Choose Your Loan Type
Work with your lender to select FHA (3.5% down, 640 score), VA (0% down, veterans), USDA (0% down, rural areas), or Conventional (3-5% down, 640+ score). FHA + VHDA Plus DPA is the most common combination. VA + VHDA is huge in Hampton Roads and Northern VA.
Find Your Home & Make an Offer
Shop within the purchase price limits for your county. The home must be your primary residence. Single-family homes, condos, and townhomes qualify. No investment properties.
Close on Your New Home
VHDA adds about 1 week to the typical closing timeline. Budget 45-60 days total. Your lender handles all VHDA paperwork. The DPA is recorded as a second lien at closing — forgiven 20%/year until fully forgiven in Year 5.
Frequently Asked Questions
What is the VHDA first-time home buyer program?
What are the VHDA income limits for 2026?
How much down payment assistance does VHDA provide?
What credit score do I need for VHDA?
Can I use VHDA with FHA, VA, or USDA loans?
Related Guides
Get Pre-Approved for VHDA DPA
Check your eligibility and get matched with a VHDA-approved lender near you.
Check Eligibility Free →Free · No SSN required · See if you qualify for $20K