Virginia Housing Grant Eligibility Calculator
Eligibility Check
Eligibility Results
Enter your information to see if you qualify for Virginia Housing assistance.
Ever wonder if you can tap into the Virginia Housing grant eligibility pool and get a boost toward buying a home? You’re not alone. Hundreds of Virginians ask the same question each year, but the answer isn’t always crystal clear. This guide breaks down exactly who qualifies, what the income and credit rules look like in 2025, and how to move from curiosity to application without the usual guesswork.
What is the Virginia Housing Grant?
Virginia Housing is a state‑run affordable‑housing finance agency that offers down‑payment assistance, low‑interest loans, and grants to eligible homebuyers across the Commonwealth. The most popular grant is the Homebuyer Assistance Grant, a cash gift that never has to be repaid.
The grant is funded by the Virginia Department of Housing and Community Development (VDHCD), which allocates millions of dollars each fiscal year to help families achieve homeownership.
Who Can Apply? The Core Eligibility Checklist
At its heart, the program is designed for people who need a financial lift to cross the home‑ownership threshold. Here’s the baseline checklist you’ll need to satisfy:
- Be a first‑time homebuyer as defined by Virginia Housing (no ownership of a primary residence in the past three years).
- Meet the income limits for your household size and county.
- Have a credit score of at least 620 (some lenders may require higher).
- Purchase a home that falls within the home purchase price limits for your area.
- Use a qualified mortgage lender that participates in the Virginia Housing program.
If you tick all those boxes, you’re in the pool. Below we dive deeper into each requirement.
Income Limits: How Much Can You Earn?
Virginia Housing ties the income ceiling to the median family income (MFI) for each jurisdiction. In 2025, the limits look roughly like this:
| County / City | Median Family Income (MFI) | 80% of MFI (Eligibility Threshold) |
|---|---|---|
| Fairfax County | $115,000 | $92,000 |
| Prince William County | $102,000 | $81,600 |
| Richmond City | $85,000 | $68,000 |
| Roanoke City | $70,000 | $56,000 |
| Appalachian Region (e.g., Wise County) | $55,000 | $44,000 |
These figures adjust each year, so always check the latest chart on the Virginia Housing website before you start the application.
Credit Score Requirements: What’s Good Enough?
The minimum score of 620 is the floor, but lenders often prefer borrowers with at least 680 to secure the best interest rates. If your score sits between 620 and 679, be prepared for a slightly higher rate or a larger down‑payment.
Tips to boost your score quickly:
- Pay down revolving balances on credit cards to under 30% utilization.
- Dispute any inaccurate entries on your credit report.
- Avoid opening new credit lines in the six months leading up to your loan application.
Home Purchase Price Limits: How Much Can You Spend?
Virginia Housing caps the purchase price based on the region’s median home price, using a formula that typically equals 115% of the local median. For 2025, the caps look like this:
| Area | Median Home Price | Maximum Eligible Purchase Price |
|---|---|---|
| Northern Virginia | $450,000 | $517,500 |
| Richmond Metro | $300,000 | $345,000 |
| Central Virginia | $250,000 | $287,500 |
| Southwest Virginia | $180,000 | $207,000 |
Any home above those numbers is out of scope for the grant, even if you meet the income test.
Qualified Property Types: What Can You Buy?
Virginia Housing supports a range of residential properties, but not every structure qualifies. Eligible types include:
- Single‑family homes
- Townhouses (must be attached to a single‑family dwelling)
- Condominiums (must be within a VA-approved condominium association)
Multi‑family units (like duplexes) are only eligible if you’ll occupy one of the units as your primary residence. Mobile homes and manufactured homes on rented land generally do not qualify.
The Application Process: From Start to Finish
Now that you know the boxes to check, here’s a step‑by‑step roadmap to get the grant in your hands.
- Pre‑Qualification: Contact a Virginia Housing‑approved lender. They’ll run a quick credit and income test to see if you’re in the ballpark.
- Gather Documentation: You’ll need recent pay stubs, tax returns, bank statements, and a list of all debts.
- Complete the Online Application: The portal on the Virginia Housing website guides you through each field. Upload your documents directly to the secure portal.
- Receive Conditional Approval: If everything checks out, the lender issues a pre‑approval letter that includes the grant amount you’re eligible for.
- Find a Qualifying Property: Work with a real‑estate agent who understands the program’s price limits and property‑type rules.
- Close the Deal: At closing, the grant money is wired directly to the seller or your escrow agent. No repayment required.
- Post‑Close Requirements: Most grants require you to occupy the home for at least 12 months and maintain the property. Failure to meet occupancy can trigger a repayment clause.
Pro tip: Keep a copy of every email and document. The audit trail can save you headaches if the program asks for verification later.
Common Pitfalls and How to Avoid Them
Even savvy buyers stumble. Here’s a quick cheat‑sheet of red flags and fixes.
- Missing Income Proof: Use a tax transcript from the IRS rather than just a summary. It satisfies the program’s verification standards.
- Buying Above Price Limits: Run a quick estimate with your lender before making an offer. Over‑budget homes disqualify the grant instantly.
- Changing Jobs Mid‑Process: A new employer can reset your income calculation. If you must switch, notify your lender early and be ready for a re‑verification.
- Ignoring the Occupancy Clause: Some buyers rent out the home immediately after closing, forgetting the 12‑month rule. Mark your calendar and plan your move.
Resources and Where to Get Help
Here are the go‑to places for up‑to‑date answers:
- Virginia Housing Official Site - income tables, price caps, lender directory.
- Local Housing Counseling Agencies - free one‑on‑one assistance with paperwork.
- Certified Real Estate Agents who specialize in first‑time buyer programs.
- Your Mortgage Lender - they can pre‑qualify you for the grant and guide you through the loan process.
Quick Recap: Is This Grant Right for You?
If you’re a first‑time buyer, meet the income and credit thresholds, and are eyeing a home within the price limits, the Virginia Housing grant can shave thousands off your down payment. The key is preparation: run the numbers early, keep documentation tidy, and partner with a lender who knows the program inside out.
What is the maximum grant amount I can receive?
Virginia Housing offers up to $10,000 in down‑payment assistance, but the exact amount depends on your income, the purchase price, and the lender’s loan program.
Do I have to be a Virginia resident to apply?
Yes. The program is limited to applicants who will use the home as their primary residence in Virginia.
Can I combine the Virginia Housing grant with other assistance programs?
Absolutely. Many buyers stack the grant with USDA loans, VA loans, or local city down‑payment assistance. Just ensure each program’s rules don’t conflict.
How long does the application process usually take?
From pre‑qualification to closing, expect about 30‑45 days, assuming all documents are in order and the property meets eligibility.
What happens if I move out before the 12‑month occupancy requirement?
You could be required to repay the grant, plus interest. It’s best to plan to stay at least a year unless you have a qualifying reason, like a job transfer approved by the agency.
Write a comment