• First-time homebuyers in Virginia can receive financial assistance.home sweet home image by David Dorner from Fotolia.com
  
  First-time homebuyers in Virginia who need help buying or rehabilitating a home can apply for a variety of grants available from the Virginia and federal governments. To be eligible, Virginia buyers must meet income and citizenship requirements; in some cases, they may be required to attend homebuyer classes. Each program has specific requirements for how the money may be used.
  
  

HOMEownership Down Payment Assistance Program

• The Virginia Department of Housing and Community Development provides down-payment assistance for first-time home buyers through the federal HOME Partnership Investment Fund. Eligible families can receive up to 10 percent of the purchase price of a home and up to $2,500 toward closing costs. To be eligible, individuals and families must have income at or below 80 percent of the area median income. In addition, financing must come from a lender approved by the Virginia Housing Development Authority.
  
  Virginia Department of Housing and Community Development
  
  Main Street Centre
  
  600 E. Main Street, Suite 300
  
  Richmond, VA 23219
  
  804-371-7000
  
  dhcd.virginia.gov
  
  

HUD Homeownership Voucher Program

• The U.S. Department of Housing and Urban Development (HUD) offers vouchers to qualified families to help with down-payment and closing costs. The program is offered through certain public housing authorities in Virginia. To be eligible, families must meet HUD-established income requirements. Once a homebuyer's application for assistance is approved, he must attend a homeownership counseling class and receive certification before the voucher is issued. Due to the high number of applicants, the waiting time to receive a voucher could be several months or longer, depending on the agency where you apply.
  
  Virginia Housing and Development Authority
  
  601 South Belvidere St.
  
  Richmond, VA 23220
  
  804-343-5893
  
  hud.gov
  
  

American Dream Downpayment Initiative

• The federal American Dream Downpayment Initiative provides up to $10,000 in down-payment assistance to qualified families. The program also helps first-time buyers with the cost of home repairs and other homeownership-related expenses. Only certain areas in Virginia received funding for the program. Applicants must have income that is 80 percent of less of their area median income, and the home must meet certain requirements. If a grant is used to repair a home, the repairs must be completed within a year.
  
  U.S. Department of Housing and Urban Development
  
  CPD Field Office Director
  
  600 E. Broad St., Third Floor
  
  Richmond, VA 23219
  
  804-822-4831
  
  hud.gov