For 1st Time Home Buyers & Repeat Home Buyers:
Get Home Buyer Grants & Down Payment Assistance
Get a 1 on 1 personalized strategy to help you reach your home buying goals
Down Payment Help
Programs are designed for 100% financing or higher for qualified buyers
Closing Costs Assistance
Some programs allow for closing costs assistance to reduce out of pocket costs
Not Just for 1st Time Buyers
Programs exist for repeat home buyers. military, teachers, police/1st responders
Many buyers qualify--Find out if you can too
It's time to stop thinking about buying a home and take the first step towards making it happen.
down payment help
Several programs exists for help with the down payment such as VA Housing's DPA (down payment assistance) grant or plus product (a loan for the down payment or evan some for closing costs for eligible buyers)
Closing costs help
Both eligible first time buyers and repeat buyers may get closing costs assistance through VA Housing up to the amount of 1.5% of the purchase price.
community partners
Community partners are activity duty and retired military, educators, police officers, and other first responders. Eligible community partners can get up $20,000 to be used for both down payment and /or CCA.
1st Generation Buyers
VA Housing's latest program gives 1st generation buyers an unprecendented edge in the market by giving them a full 1% rate drop over the life of the loan at no cost to the buyer!
Want to learn more about local area programs and grants?
Get this brochure highlighting popular programs in Hampton Roads.
A Few Things to know...
A common misconception is that you need 20% down in order to buy a home but the reality is that in Hampton Roads, there are several low down payment and zero down payment loan options available. there are programs on a state level as well as locally in certain cities like Chesapeake, Portsmouth and Norfolk. Some programs are reserved for first time home buyers but there are programs that allow for both first time buyers and repeat buyers such as the community partners program (for active duty and retired veterans, educators, law enforcement, and other first responders).
These programs help subsidize the down payment and /or closing costs when used with FHA, VA or conventional loans. For the grants programs, if all the requirements are met, typically these funds are forgiven and do not need to be paid back. Each program has their own set of criteria and rules, and some may work better for you than another so it's best to schedule a discovery call to determine your options.
Down payment programs and grants work with financing--they do not replace financing. Buyers must still qualify for a home loan.
These programs are designed to create ZERO down payment- 100% financing opportunities. Some programs can even cover some closing costs.
Funds range from $7500 to upwards of $40,000 for eligible buyers. Minimum credit score and income limits apply. Most programs require a minimum 620 score.
Several programs are 1st come, 1st served until the funds run out and the program replenishes next year so it's better to apply sooner.
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Frequently Asked Questions
If you still have questions, feel free to reach out.
Who is considered a first time home buyer?
A first time buyer is someone who has never owned a home before or someone who owned a home over 3 years ago and currently does not own a home
Is it possible to use more than one program?
You certain programs can be combined together to get even more benefits! Using multiple programs together is called "stacking." Note buyers must meet the requirements for all programs.
Can I use these programs to buy investment properties?
No, these programs are strictly for owner occupants so the home you buy must be your principal residence.
Will these programs cover all my expenses in buying a house?
Typically not but they will certainly reduce your out of pocket costs making the home buying process more affordable. Many of these programs require the buyer to contribute towards their home purchase in some cases it is as little as 1% of the purchase price.
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