Virginia Housing DPA Grant - program facts for NoVA first-time buyers
The Virginia Housing Down Payment Grant
{{example.name}} ({{example.situationNote}}) buying at {{example.homePrice}} in Northern Virginia with the Virginia Housing DPA Grant applied to her required down payment - a true grant, never repaid, no lien. Per Virginia Housing guidelines rev May 2026; income and price limits eff Aug 1, 2026; programs subject to change.
| Factor | FHA Bond First + Grant | Conventional Bond First + Grant | No Grant - Save Own Down Payment |
|---|---|---|---|
| Grant size | 2.5% of purchase price | 2% of purchase price | N/A |
| Borrower contribution to down | Approx 1% (can be gifted) | Approx 1% (can be gifted) | Full required down payment from savings |
| Grant repayment | Never - true grant, no lien | Never - true grant, no lien | N/A |
| First-time buyer required | Yes - 3-year rule (targeted-area exception) | Yes - 3-year rule (targeted-area exception) | N/A |
| Income limit (NoVA bond, all household, eff Aug 1, 2026) | $148K (1-2 ppl) / $174K (3+ ppl) | $148K (1-2 ppl) / $174K (3+ ppl) | None |
| Price cap (NoVA) | $800,000 | $800,000 | None |
| Minimum FICO | 620+ | 640+ | Varies by product |
| Covers closing costs? | No - down payment only | No - down payment only | N/A |
| Best for | First-time buyers 620-639 FICO within bond income limits | First-time buyers 640+ FICO within bond income limits | Buyers above bond limits or who prefer no grant constraints |
Two separate analyses - never mix these up
Four questions to evaluate the DPA Grant for your situation
Is your household income within the bond limit?
All adults living in the home count - not just loan borrowers. NoVA bond limit (eff Aug 1, 2026): $148,000 (1-2 people) or $174,000 (3+ people). Calculate your full household total carefully.
Do you meet the first-time buyer standard?
No ownership interest in a primary residence in the past three years. Targeted-area exceptions exist. If you are unsure, we verify in the first conversation - no commitment required.
Is your target home within the $800K price cap?
Bond firsts have an $800,000 purchase price cap in NoVA (eff Aug 1, 2026). For targets above that, the Virginia Housing Plus Second's Expanded non-bond track (no price cap) may be the alternative.
Do you have closing cost funds in addition to the grant?
The grant covers down payment only. Closing costs need other sources - seller credits, lender credits, or your own funds. We build the closing cost strategy with you so there are no surprises.
See your personalized numbers - free
Scan the code or reach out. We confirm your household income eligibility, verify first-time buyer status, and run both FHA Bond and Conventional Bond paths using your real price and profile - no obligation.
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