Virginia down payment assistance: the grant or the Plus loan
Choose your Virginia county or city, your income and price: the Virginia Housing grant, the Plus second mortgage, and what each leaves you to pay.
Help you may get in Fairfax County
$25,000
Virginia Housing Plus Second Mortgage: monthly-payment loan. 0 programs likely fit, 2 to check.
| Your income vs. area median for 3 people | 80% |
| HUD 80% income limit, 3 people | $96,150 |
| Down payment at 3.5% | $17,500 |
| Cash still needed with the help | $0 |
| Monthly payment, no help | $3,341 |
| Monthly payment, with the help | $3,341 |
| FHA limit · conforming limit | $1,249,125 · $1,249,125 |
Programs read on the Virginia Housing pages; HUD FY 2026 limits; payment = principal and interest over 30 years at 7.4% (Freddie Mac, October 15, 2026). The approved lender confirms eligibility.
| Program | Fit | Amount | Form | Why |
|---|---|---|---|---|
| Virginia Housing Plus Second Mortgage | Check with the agency | $25,000 | Monthly-payment loan | county income limit not transcribed: see the agency table; price limit by county: see the agency table |
| Virginia Housing Down Payment Assistance Grant | Check with the agency | $12,500 | Grant, never repaid | county income limit not transcribed: see the agency table; price limit by county: see the agency table |
Prepared by Radif Partners · Method · updated: HUD 2026 limits effective May 1, 2026 · Freddie Mac rate of October 15, 2026 · programs read on October 21, 2026
Virginia is one of the few states where the main help is a real grant. The Virginia Housing Down Payment Assistance Grant pays 2% of the lesser of the price or appraised value with a conventional Virginia Housing loan, or 2.5% with an FHA loan, and it is never repaid. It covers the down payment only, not closing costs, and is for first-time buyers, or repeat buyers in Areas of Economic Opportunity, with a 620 score for FHA and 640 for conventional. The alternative is the Virginia Housing Plus Second Mortgage: up to 5% of the price, depending on credit and loan type, repaid monthly over 30 years at a fixed rate, with no first-time rule. The two cannot be combined. In Fairfax County a household of three earning $120,000 buying at $500,000 with FHA could take a grant of $12,500 or a Plus loan of $25,000, against a $17,500 minimum down payment.
Virginia Housing's two kinds of help
| Program | Amount | Repayment (agency wording) | First-time only | Min. credit | Status |
|---|---|---|---|---|---|
| Virginia Housing Down Payment Assistance Grant | 2% of the lesser of sales price or appraised value with a conventional bond loan, 2.5% with an FHA bond loan; down payment only | a true grant, never repaid | yes | 620 | open |
| Virginia Housing Plus Second Mortgage | up to 5% of the purchase price, depending on credit score and first-mortgage type | 30-year fixed-rate second mortgage with monthly payments, no prepayment penalty; cannot be combined with the grant | no | open |
The grant percentages are set to match the minimum down payment of each loan type: 2.5% on FHA covers most of the 3.5% minimum, 2% on a conventional loan covers most of a 3% minimum. The remainder and the closing costs are yours. The Plus second is a different tool: it can fund the whole down payment, but at the cost of a second loan with its own rate, which the lender quotes with the first mortgage.
Northern Virginia, Richmond and Hampton Roads
| County | HUD median (4 people) | HUD 80% limit (3 people) | FHA limit | Conforming limit |
|---|---|---|---|---|
| Fairfax County | $166,100 | $96,150 | $1,249,125 | $1,249,125 |
| Prince William County | $166,100 | $96,150 | $1,249,125 | $1,249,125 |
| Loudoun County | $166,100 | $96,150 | $1,249,125 | $1,249,125 |
| Arlington County | $166,100 | $96,150 | $1,249,125 | $1,249,125 |
| Richmond city | $113,500 | $81,750 | $707,250 | $832,750 |
| Chesterfield County | $113,500 | $81,750 | $707,250 | $832,750 |
| Henrico County | $113,500 | $81,750 | $707,250 | $832,750 |
| Virginia Beach city | $107,700 | $77,550 | $757,850 | $832,750 |
| Norfolk city | $107,700 | $77,550 | $757,850 | $832,750 |
| Chesapeake city | $107,700 | $77,550 | $757,850 | $832,750 |
| Roanoke city | $98,500 | $70,950 | $541,287 | $832,750 |
Virginia lists 133 counties and independent cities, and HUD groups them by metro. Fairfax, Loudoun, Prince William and Arlington share the Washington median of $166,100 and the FHA ceiling of $1,249,125. The Richmond area sits at $113,500 and $707,250, Hampton Roads at $107,700 and $757,850, Roanoke at the floor. Virginia Housing sets its own income and price limits by locality; we link them, and the calculator marks them to confirm.
Your Virginia county or city
Help you may get in Richmond city
$16,000
| Your income vs. area median for 3 people | 78% |
| HUD 80% income limit, 3 people | $81,750 |
| Down payment at 3.5% | $11,200 |
| Cash still needed with the help | $0 |
Fairfax County, worked through
| Program | Result | Amount | Why |
|---|---|---|---|
| Virginia Housing Plus Second Mortgage | Check with the agency | $25,000 | county income limit not transcribed: see the agency table; price limit by county: see the agency table |
| Virginia Housing Down Payment Assistance Grant | Check with the agency | $12,500 | county income limit not transcribed: see the agency table; price limit by county: see the agency table |
The grant leaves $5,000 of the down payment to bring. The Plus loan of $25,000 would cover it all, at about $173 a month if its rate matched the market average of 7.4%; the real Plus rate is set by Virginia Housing and the lender. In Richmond, with a conventional loan at $320,000, the grant is $6,400 and the 3% minimum is $9,600.
Choosing in Virginia
For a buyer who has most of the down payment, the grant is the clear choice: it is free and leaves no lien. For a buyer with little saved, the Plus loan is the way to buy now rather than later, and the monthly cost should be weighed against the rent paid while saving. Remember that the Plus payment counts in the debt ratio the lender checks. Both go through Virginia Housing approved lenders with a Virginia Housing first mortgage, and the lender will say whether the agency's free homebuyer class is required for your file.