Overview
Virginia's housing market offers opportunities for first-time buyers, with a median home price of approximately $380,000. The Virginia Housing provides the primary state-level assistance through mortgage programs and down payment assistance for qualifying buyers.
The Virginia Housing Down Payment Assistance Grant is a virginia housing's key offering for first-time buyers, providing up to 2.5% of the purchase price as a non-repayable grant. This program is designed to reduce the upfront cost barrier that prevents many qualified buyers from purchasing a home. Buyers must complete a HUD-approved homebuyer education course and work with an approved lender.
State Programs
Virginia Housing Down Payment Assistance Grant
GrantClosing Cost Assistance Grant
GrantFederal Programs Available in Virginia
These nationwide programs can be combined with Virginia state assistance for maximum benefit.
FHA Loan Program
Low down payment mortgageVA Home Loan
Zero down payment mortgageUSDA Rural Development Loan
Zero down payment mortgageTips for First-Time Buyers in Virginia
The Closing Cost Assistance Grant extends additional support through up to 2% of the purchase price as a non-repayable grant for closing costs. Virginia has a graduated income tax from 2% to 5.75%. Property taxes average about 0.82%. Virginia Housing offers unique stacking of DPA and closing cost grants.
Federal programs complement state offerings in Virginia. FHA loans require just 3.5% down with flexible credit requirements. VA loans provide zero-down-payment financing for veterans and active-duty military, particularly relevant near Joint Base Langley-Eustis, Naval Station Norfolk, Fort Barfoot. USDA loans offer zero-down-payment options in eligible rural areas, which cover significant portions of Virginia.
Prospective buyers should compare all available options, as combining state and federal programs can dramatically reduce out-of-pocket costs. Working with a HUD-approved housing counselor can help navigate the application process and identify the best program combination for your situation.
Frequently Asked Questions
For educational purposes only -- not financial or tax advice. Program details, eligibility requirements, and benefit amounts are subject to change. Verify all information directly with the administering agency before applying. Last verified: March 30, 2026.