Purchasing a home in Northern Virginia can be a significant financial undertaking, especially for first-time buyers. Fortunately, several programs offer grants and assistance to make homeownership more attainable. This guide highlights key homebuyer grants available in Northern Virginia for 2025 and how Brickfront Properties and Construction can support your journey.
Virginia Housing Down Payment Assistance Grant
Virginia Housing provides a Down Payment Assistance (DPA) Grant to qualified first-time and repeat homebuyers purchasing in designated Areas of Economic Opportunity. This grant offers funds that do not require repayment, easing the burden of upfront costs.
Eligibility Criteria:
- Must be a first-time or repeat homebuyer in specific areas.
- Obtain a Virginia Housing bond, FHA, or Conventional loan.
- Meet income and sales price/loan limits set by Virginia Housing.
DHCD Homeownership Down Payment Assistance Program
The Virginia Department of Housing and Community Development (DHCD) offers a program providing up to 10-15% of the home’s sales price, plus up to $2,500 for closing costs. This assistance is in the form of a grant, with the condition that the home remains the buyer’s primary residence for a specified period.
Key Points:
- Income eligibility applies.
- Applicable in approved areas designated by DHCD.
- Mandatory affordability period to ensure long-term residency.
Fairfax County First-Time Homebuyers Program
Fairfax County’s First-Time Homebuyers (FTHB) Program offers affordable homes to low- and moderate-income families through the Affordable Dwelling Unit (ADU) Program. Homes are sold at prices below market value, making homeownership more accessible.
Program Highlights:
- Available to eligible first-time homebuyers.
- Homes offered at reduced prices compared to similar market listings.
- Participants must adhere to program guidelines and occupancy requirements.
CFH Down Payment Assistance
CFH (Creating Foundations for Hope) administers the DHCD’s Down Payment Assistance & Closing Cost Assistance Program in select Northern Virginia areas. This program aids income-qualified buyers in covering down payments and closing costs.
Eligibility Requirements:
- Gross household income must not exceed 80% of the area median income, adjusted for household size.
- Assets should not exceed 10% of the property’s cost.
- Applicants must identify the property and secure a first mortgage.
How Brickfront Properties and Construction Can Assist
Navigating the array of homebuyer grants and programs can be complex. Brickfront Properties and Construction offers expert guidance to simplify this process:
- Personalized Consultation: Assessing your eligibility for various grants and programs.
- Property Selection: Identifying homes that qualify for assistance programs.
- Application Support: Assisting with the preparation and submission of necessary documentation.
With a deep understanding of Northern Virginia’s real estate landscape, Brickfront Properties and Construction is committed to helping you achieve homeownership with the support of available grants and programs.
Conclusion
Multiple homebuyer grants and assistance programs are available in Northern Virginia to ease the financial challenges of purchasing a home. By leveraging these resources and partnering with experienced professionals like Brickfront Properties and Construction, you can navigate the path to homeownership with confidence.
