How the Virginia $0 Down Grant works

This program was created in 2015 to stimulate the housing market in Virginia and the Northern Virginia suburbs by allowing qualifying homebuyers to have up to 3% of the purchase price of their home or condo paid for as their Down Payment by the Virginia Housing Development Authority. The grant “plugs in” to certain conventional mortgages, FHA mortgages and Fannie Mae NO MI Mortgages.

The VHDA loan’s main qualification is based on income in the household. Northern Virginia, with its higher incomes and housing prices, receives access to funds at the highest income limits in the state. ¬†These $) Down Grant Funds can be used for condo purchases in Rosslyn, Ballston, Arlington, Alexandria and more at up to a purchase price of $500,000!.

Household Size Eligible
1 or 2 Less than $97,520
3 or more Less than $113,840

Eligibility vs. Approval

Being eligible on an income basis for the Virginia $0 Down Down Payment Grants does not automatically mean that you will be approved for a mortgage or actual VHDA down payment funding. You must still be basically financially eligible to purchase a home, meaning you have stable income, a fair to decent credit history, and can meet other criteria that loan officers need to determine your ability to qualify for a mortgage. You will also need a qualified Real Estate Agent to assist in the entire process, including finding, touring and purchasing a qualifying home.

Where do I find an Agent? We recommend attending one of our Free Home Buyer Workshops that focus on $0 Down and other easy financing programs available in DC, MD and VA. Workshops are typically available on Tuesday early evenings and Saturday mornings at 10am. The Workshops location is 913 Florida Avenue, NW in Washington DC.