Northern Virginia’s Zero Down Homebuyer Assistance Grant Program
In March, 2015 the Virginia Housing Development Authority (VHDA) released a new 3% Down Payment Assistance Grant that is designed to help Virginia and Northern Virginia home buyers buy their first home for zero down payment ($0 Down). If you qualify, the VHDA pays up to 3% of the purchase price of the home towards your Down Payment. This Down Payment Assistance Grant does not have to be repaid and is not a secondary loan.
This program is live and running in 2016! Ask us how to get help with this $0 Down Grants program
Applicants for the program must have household incomes at or below the program’s limits:
In Northern Virginia, the maximum income for 2 or fewer people in the household is $97,520.
For households of 3 or more, the limit is $113,840.
The best news? You can use the programs on conventional mortgages, FHA mortgages and Fannie Mae NO MI mortgages of up to $500,000.