Loans That Make Homeownership Affordable and Accessible
At Virginia Housing, we offer a variety of loans.
Why finding the right loan matters
We have a variety of loans for first-time homebuyers to help make owning a home more affordable. Finding the right loan is important for identifying your home options and planning your financial needs for the future.
If you are a repeat homebuyer, we may have a loan option for you too — be sure to ask a lender.
Get ready for homeownership
We want to help you be prepared as a future homeowner. Many of our loans require the completion of a free homebuying course.
Compare home loan options
Several kinds of loans can be combined with Virginia Housing grants to reduce out-of-pocket costs for qualified first-time homebuyers. View the table below to help you discover available options.
Download our Home Loan Options booklet.
| Program | Benefits | Features | |
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| Closing Cost Assistance (CCA) Grant |
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| Down Payment Assistance Grant (DPA) |
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| Plus Second Mortgage |
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| FHA (Federal Housing Administration) Non-bond and bond |
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| USDA (Rural Housing Service) Non-bond and bond |
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| VA (Veterans Administration) Non-bond and bond |
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| Conventional Non-bond and bond |
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| Conventional No Mortgage Insurance (No MI) Non-bond |
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If the first-time homebuyer is required by the program, this requirement is waived if purchasing in an Area of Economic Opportunity.
Understanding income, loan limits and sales price
In order to help first-time homebuyers, we've set up our loans to meet the needs of those who need them most. So, limits on your income or sales price will be a part of your loan eligibility.