Eligibility

Buyer Eligibility

• U.S. citizen or legal resident
• No ownership interest in a primary residence for the past three years 
• Household income at or below 80% AMI (See Individual Programs for more details.) 
• Must qualify for a first mortgage and have sufficient cash on hand to contribute at least $500 of 1% of the sales price to the home purchase
• Must be pre-approved with a Virginia Housing-approved lender.

Property Eligibility

• There must not be a sales contract on an existing property prior to requesting assistance.
• Existing housing units must meet HUD Housing Quality Standards (HQS) (PDF) standards of health and safety. (A Certificate of Occupancy is acceptable on new construction.)
• Condominium or manufactured units are subject to Virginia Housing restrictions.
• Properties built before 1978 will be subject to a visual lead inspection.
• The "property" purchased must be the principal residence of the "borrower" during the affordability period. The "borrower" is not allowed to temporarily sublease the "property".