The Virginia Pilot Down Payment Assistance Program provides assistance to first-time homebuyers whose household income is not more than 60% of the area median income (AMI). HOAP enrollees may receive up to $50,000.00 towards down-payment and closing-costs. Assistance is provided in the form of a grant with a mandatory “affordability period” for the applicant to continue to occupy the house as their primary residence. The grant is subject to funds availability. Individuals seeking DPA assistance from VHCDC
1. Enrollment in the VHCDC Home Ownership Assistance Program:
Individuals must be enrolled in the VHCDC Home Ownership Assistance Program (HOAP) and must be in full compliance with its terms and conditions. All enrollees will satisfy the following:
- First-Time Home Buyers College Completion (15 hours Pre-Purchase Housing Education)
- Two (2) Pre-Purchase Housing Counseling Sessions
- Three (3) Consecutive Months of Personal Financial Statements (verified by bank/brokerage account statements, pay-check stubs, and Personal Financial Statements)
- Communicate Progress (Work Plan Tasks, Savings, Debt Resolution, etc.) Monthly
- Household Income must not exceed the 2025 Adjusted Household Income Limits for their Metropolitan Statistical Area (MSA) - See the chart below.
- Debt-To-Income Ratio is Less Than 45%, but can go up to 50%.
- Minimum FICO score of 620
No Open Collections or Judgements - Contribute one percent (1%) of the sales price of the home from their personal funds
2. Recommendation by VHCDC Housing Counselor:
Participants must be recommended for participation by a VHCDC Housing Counselor, indicating their readiness and suitability for the program. Applicants shall submit the following to their Counselor:
- VHCDC Release of Information Form
- Letter of Pre-Approval from a Mortgage Lender, including Good Faith Estimate
- Documentation of Gifts from Individual(s), along with Letter of Gift
- Documentation of Down-Payment Assistance Grants
- Documentation of Closing Cost Assistance
- Purchase Agreement (Ratified)
- Virginia Driver License or Virginia I.D. Card (unexpired)
- Appraisal Report
- Two (2) Years Earned Income
- Paycheck Stubs (3 months)
- W2 (2 most recent years)
- Federal Income Tax Returns (2 most recent years)
- Self-Employment Documentation to include YTD Profit & Loss, Schedule K’s, Federal Income Tax Returns (3 most recent years)
- SSI and SSDI (if applicable)
- Child Support and Spousal Support/Alimony Documentation (if applicable)
- Retirement Income (if applicable)
- Bank and Brokerage Account Statements (3 months) for all Occupants
2025 Adjusted Household Income Limits (60% AMI)
| MSA/Metro Area |
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| Hampton Roads | $44,760 | $51,120 | $57,540 | $63,900 | $69,060 | $74,160 | $79,260 | $84,360 |
| Franklin City | $39,360 | $45,000 | $50,640 | $56,280 | $60,780 | $65,280 | $69,780 | $74,280 |
| Henrico County | $47,700 | $54,480 | $61,320 | $68,100 | $73,560 | $79,020 | $84,480 | $89,940 |
| Isle of Wight County | $44,760 | $51,120 | $57,540 | $63,900 | $69,060 | $74,160 | $79,260 | $84,360 |
| Northampton County | $47,850 | $54,650 | $61,500 | $68,300 | $73,800 | $79,250 | $84,700 | $90,200 |
| Petersburg | $47,700 | $54,480 | $61,320 | $68,100 | $73,560 | $79,020 | $84,480 | $89,940 |
| Pittsylvania County * | $32,820 | $37,500 | $42,180 | $46,860 | $50,640 | $54,360 | $58,140 | $61,860 |
| Richmond | $47,700 | $54,480 | $61,320 | $68,100 | $73,560 | $79,020 | $84,480 | $89,940 |
| Southampton County | $39,360 | $45,000 | $50,640 | $56,280 | $60,780 | $65,280 | $69,780 | $74,280 |
| Surry County | $40,500 | $46,260 | $52,020 | $57,780 | $62,400 | $67,080 | $71,640 | $76,260 |
NOTE: The Virginia Pilot Down Payment Assistance is provided in the form of a second mortgage loan (forgivable based upon the amount awarded). All applications are processed on a first-come, first-servved basis and subject to funding availability. Please allow 30 to 45 days for processing. Additional terms and conditions apply.
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