Additional Resources for Virginia
Down Payment Assistance (DPA) Grant
- What It Offers: Helps eligible first-time homebuyers with funds for a down payment. Requires a minimum credit score of 620 and a maximum 45% debt-to-income ratio.
- Website: Virginia Housing
Mortgage Credit Certificates (MCC)
- What It Offers: Reduces the amount first-time homebuyers owe in federal income tax. Provides a credit for 10% of your annual mortgage interest.
- Website: Virginia Housing
Conventional No Mortgage Insurance (No MI)
- What It Offers: Allows first-time homebuyers to put down just 3% on a home loan without mortgage insurance.
- Website: Virginia Housing
