About VHDA’s Down Payment Assistance Grant

Visit the VHDA’s website to download detailed information about the Down Payment Assistance Grant.

About the Grant

• Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment.
• Maximum grant will be 3 – 3.5% of the purchase price, based on the down payment required for the eligible VHDA loan.
• Buyers must have household incomes at or below program limits.
• Down Payment Assistance Grant may be used with eligible VHDA loans only.
• Grant funds may not be used in combination with other down payment assistance resources (including FHA Plus).
• Down Payment Assistance Grant has no repayment.
• VHDA’s eligible first mortgage must be locked on or after the program implementation date.
• The eligible first mortgage must be locked prior to reserving the grant funds.
• All borrowers receiving this grant are eligible for a Mortgage Credit Certificate (MCC). Borrowers must apply for an MCC through an approved MCC lender and receive an MCC commitment / approval prior to closing. (An MCC is a dollar-for-dollar credit against your federal income tax liability. Read more about MCCs.)
• Other program requirements may apply.

Questions About the DPA Grant Program? Please contact your VHDA Business Development Officer or VHDA Single Family Underwriting 800-227-8432