First-time home buyer programs in Virginia Beach, Virginia — down payment assistance

Virginia Beach Down Payment Assistance

First-Time Home Buyer Programs & Down Payment Assistance in Virginia Beach, Virginia

In Virginia Beach, VA, the down payment is the hurdle more often than the payment; the first-time home buyer programs here clear it: a grant with nothing to repay, forgivable second liens, and a repayable option that covers closing costs, on an owner-occupied home of one or two units (the nothing-to-repay option reaches four).

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Current Program Snapshot

Current down payment assistance guidelines, updated from one source.

These figures are read from Lendmire’s centralized down payment assistance standards source and update automatically when the programs change. Every state and city guide in this series reads the same source.

Down Payment Help

Up to 5%

Of the purchase price

Up to this share of the price can come from assistance: the largest option reaches closing costs as well as the down payment, while the smaller options cover the 3.5% FHA minimum, in whole or, on the lowest tier, in part.

Nothing to Repay

3.5%

Covers the FHA down payment, in whole or in part

Nothing to repay, ever: this option pays the 3.5% FHA minimum down payment in whole or, on its lower tier, in part, and leaves no lien behind, for buyers within the area income limit or in a qualifying category.

Income Limit

None

On the forgivable and repayable options

The forgivable and repayable options have no income limit at all — one of the biggest advantages of this program. Only the nothing-to-repay option asks for income at or below 140% of the area median, or a qualifying category.

Credit

620

Credit score to start

This is the lowest score that opens an option here — the nothing-to-repay option; the forgivable second liens start a little higher and the repayable options higher still, so a stronger score opens more choices.

Assistance options offered in Virginia — how much, what it costs to carry, and the credit it takes
Option	Assistance	What you repay	Credit · mortgage · units
Grant-style assistance — nothing to repay	2% or 3.5% of the price	Nothing — released at closing	620+ · FHA 203(b), FHA repair escrow, FHA Limited 203(k), FHA Standard 203(k) · 1–4 units
Forgivable second lien — three-year	3.5% of the price	Nothing after 36 on-time mortgage payments	640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Forgivable second lien — five-year	3.5% of the price	Nothing after 60 on-time mortgage payments	640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Repayable second lien — thirty-year amortization, ten-year balloon	3.5% or 5% of the price	Second lien, 30-year amortization, balloon in year 10	660+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units
Closing-cost repayable second lien	3.5% or 5% of the price	Second lien, 30-year amortization, balloon in year 10	660+ · FHA 203(b) · 1–2 units
Refinance-cost second lien (repayable)	1% to 3.5% of the balance	Second lien, repaid	660+ · FHA 203(b) · 1–4 units

Current down payment assistance snapshot · updated September 7, 2026 · six options offered in Virginia · no option requires a first-time buyer · no option combines with another assistance program · owner-occupied primary residences only.

Program Notice

Nothing on this page is a Loan Estimate, an approval, a quote, or a commitment to lend. Down payment assistance eligibility, amounts, and terms depend on the first-lien program, the option, the property, the buyer’s credit and category, and full underwriting through select wholesale lenders licensed in sixteen states; the calculator’s rate is an editable benchmark and its payment an estimate. Lendmire is a mortgage broker and is never the lender, and is not affiliated with or acting on behalf of FHA, VA, USDA, HUD, or the federal government. Lendmire, LLC — NMLS #2371349. Equal Housing Opportunity.

Virginia Beach Down Payment Assistance Guide

What down payment assistance is — and how the options differ.

The first-time home buyer programs work the same way in Virginia Beach, VA as anywhere in the footprint: a government first lien, an assistance option sized as a percentage of the price, and a set of rules about credit, units, and eligibility that decide which option fits.

For the program overview, see Lendmire’s down payment assistance program, or the statewide guide at Down Payment Assistance in Virginia.

01.

Assistance covers the FHA down payment

An FHA purchase asks for a minimum investment from the buyer; the assistance covers it, measured as a percentage of the lesser of price or value, and the largest option carries a further share for closing costs and prepaids.

02.

Four shapes: grant, forgivable, repayable, refinance

Nothing to repay, forgiven over time, or repaid with a balloon: the three purchase shapes in Virginia Beach, VA cover the same minimum investment and differ in what the buyer owes afterward, and a fourth, the refinance-cost option, serves an existing FHA loan.

03.

Credit floors, mortgage programs, and unit counts

Two-borrower files can qualify on a blended score on the second-lien options when the higher earner has the higher score and an automated approval is in hand; every borrower still needs a score of their own, and the first lien and the unit count place the file as the options table shows.

04.

Eligibility without a first-time-buyer rule

No option requires a first-time buyer. The nothing-to-repay option asks for one qualifying category — income at or below the area limit, a community-service occupation, a first purchase, or an underserved tract — and a homebuyer education course; the second-lien options ask for neither.

The Core Calculation

Lesser of price or value × the option’s percentage = the assistance; minus the down payment = what reaches closing costs

Enter a price, choose an option, and add your own cash. The calculator sizes the minimum investment, splits the assistance between the down payment and closing costs, and estimates the FHA payment with mortgage insurance, taxes, insurance, and dues.

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Virginia Beach Market Context

Where Virginia Beach’s first-time and moderate-income buyers shop — and how the assistance fits.

The share of Virginia Beach, VA households that rent, the median home value, and the median household income together sketch the gap the assistance closes for a first purchase.

Market context only. The renter share says how many households the program could serve; the median value says how far the minimum investment sits from a typical price; the two together describe where the program closes most files.

456,349Population (ACS 2020–2024)

$382,500Median owner-occupied home value (ACS 2020–2024)

34.8%Households that rent (ACS 2020–2024)

$92,968Median household income (ACS 2020–2024)

Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.

Virginia Beach Submarkets

Distinct Virginia Beach submarkets, distinct property rules.

Virginia Beach’s entry-level stock is not one market. Each submarket below carries its own price points, its own property rules, and its own fit with the assistance options.

01.

Townhomes and attached homes

Attached homes and townhomes in Virginia Beach sit at price points where the minimum investment is smaller in dollars but no easier to save; the assistance closes that gap, and the association’s documents are reviewed with the file. Median gross rent in Virginia Beach is about $1,714 a month — the payment many renters already carry.

PUD review, lower price points

Market data: U.S. Census Bureau — Virginia Beach.

02.

Condominiums close to work

In Virginia Beach, a condominium near the job is the first home many buyers can reach; the program pairs with it as long as the project clears FHA review, and the assistance covers the minimum investment the same way it would on a house. Virginia Beach itself counts a population near 456K.

FHA project approval decides the file

Market data: U.S. Census Bureau — Virginia Beach.

03.

Older neighborhoods and renovation loans

Renovation purchases in Virginia Beach qualify for the assistance on the price before repairs, which lets a buyer take on a home that needs work without also finding the minimum investment. The median owner-occupied home value in Virginia Beach runs near $382,500 on the latest Census estimate.

203(k) with the assistance attached

Market data: U.S. Census Bureau — Virginia Beach.

04.

New construction and infill

Infill and new-build homes in Virginia Beach pair with the assistance as long as the property is the buyer’s primary residence and the first lien is a government program. About 35% of Virginia Beach’s households rent — roughly 62,686 renter households, the pool the program exists for.

Builder timelines and appraisal

Market data: U.S. Census Bureau — Virginia Beach.

05.

Manufactured homes on owned land

For Virginia Beach buyers looking at manufactured housing, the assistance is available on owned land, with single-width homes reaching only the option that accepts them. On a home at Virginia Beach’s median value, the FHA minimum investment comes to about $13,400 — the figure the assistance is built to cover.

Width and title decide the option

Market data: U.S. Census Bureau — Virginia Beach.

06.

Small multi-unit homes, owner-occupied

A buyer who lives in one unit of a Virginia Beach duplex can use the program on the whole building; the nothing-to-repay option, which reaches four units, makes a house-hacking purchase reachable with the minimum investment covered. Median household income in Virginia Beach sits near $92,968 on the latest Census estimate.

Live in one unit, rent the others

Market data: U.S. Census Bureau — Virginia Beach.

These are patterns, not promises: each Virginia Beach purchase is underwritten on its own appraisal, its own credit, and its own option.

How Virginia Beach Buyers Use the Program

Four ways Virginia Beach buyers put down payment assistance to work.

The same assistance serves several purposes in Virginia Beach, VA; four of the most common are below.

First purchase

Buy a first home with the down payment covered

A Virginia Beach buyer with the income for the payment but not the cash to close uses the assistance to cover the FHA minimum investment, a grant with nothing to repay, and keeps savings for the move.

Closing costs

Cover closing costs too on the larger option

A Virginia Beach buyer who needs more than the minimum investment uses the repayable option that covers down payment, closing costs, and prepaid items, including costs paid outside closing.

Government mortgages

Pair the assistance with a USDA or HUD-184 mortgage

A Virginia Beach, VA buyer on a USDA or HUD-184 first lien uses the second-lien options, forgivable or repayable; the nothing-to-repay option pairs only with FHA first liens.

Refinance

Cover the costs of an FHA refinance

Owners in Virginia Beach with an FHA loan and little cash for a refinance use the refinance-cost option, subject to its own credit floor and the combined-leverage limit it carries.

Assistance Sizer

Size the assistance on a Virginia Beach price before requesting a quote.

Run a Virginia Beach price through the options before you request a quote: the minimum investment, the assistance applied, what is left for closing costs, the mortgage insurance tier, and the estimated payment. Enter income to see the ratios a lender reads.

Editable FHA scenario with assistance

Virginia Beach FHA payment with assistance

Illustrative Virginia Beach inputs; the calculator recalculates on every change.

Purchase price

Assistance option

Your own cash toward the down payment (% of price)

Term

Rate (%) — editable benchmark

Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an FHA loan quote.

Property taxes (per year)

Homeowners insurance (per year)

Association dues (per month)

Gross monthly household income (optional)

Other monthly debt payments

—FHA minimum investment on this price.

—Annual mortgage insurance rate applied, and for how long.

Illustrative starting assumptions: a $380,000 price near Virginia Beach’s median owner-occupied home value, the strongest assistance option offered in Virginia applied against the FHA minimum investment, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for Virginia (U.S. Census Bureau). Every field is editable.

Estimated total monthly housing payment

—

Principal and interest, FHA mortgage insurance, taxes, insurance and dues, on the total loan with the upfront premium financed.

—Total down payment (your cash plus assistance)

—Assistance applied to the down payment

—Assistance left toward closing costs and prepaids

—Your cash toward the down payment

—Base loan amount

—Upfront mortgage insurance premium, financed

—Total loan amount

—Principal and interest

—Monthly FHA mortgage insurance

—Taxes, insurance and dues

—Housing and total debt ratios (with income entered)

—Where the file lands

See my offer Call 828-256-2183

Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not an FHA loan quote; your rate is set by the lender at lock. FHA mortgage insurance follows HUD’s published schedule for the term, leverage and loan size entered; taxes, insurance and dues are editable estimates; closing costs are not included; a repayable second lien adds its own payment, which is not shown here. Consumer mortgage lending licensed in sixteen states. Lendmire is not affiliated with or acting on behalf of FHA, USDA, HUD, or the federal government.

Down Payment Assistance vs. the Alternatives

Same buyer, three very different closings.

Same Virginia Beach buyer, three closings: assistance on an FHA loan, the buyer’s own minimum investment, or assistance on a USDA or HUD-184 loan.

Structure Comparison

Assistance on an FHA loan, your own down payment, or assistance on a USDA or HUD-184 loan.

FHA with down payment assistance

Assistance that closes with the first lien: it covers the minimum investment; its shape is chosen by the credit tier and the first lien, with the eligibility category where the nothing-to-repay option is in play, and the second-lien options stay open to repeat buyers with no income limit.

FHA with your own minimum investment

Paying the minimum investment yourself keeps the closing simplest — no second lien, no category, no course; the trade is the months or years of saving that the assistance replaces. For the first lien itself, see Lendmire’s FHA loan program.

USDA or HUD-184 with assistance

USDA and HUD-184 first liens pair with the forgivable options and the ten-year repayable option on a Virginia Beach, VA file; the separate closing-cost option is FHA only. For the USDA first lien, see the USDA loan program.

Where each one fits

Assistance fits the buyer short of cash to close; the plain purchase fits the buyer with savings; the USDA and HUD-184 pairing fits eligible properties and borrowers — Lendmire places the Virginia Beach, VA file where it reads best.

Typical File Components

What to prepare for a Virginia Beach scenario review.

What a down payment assistance review usually starts with.

Eligibility categoryNothing-to-repay option: proof of one qualifying category (occupation, first-time buyer, census tract, or area income; any one of them), plus the signed application.

Homebuyer education certificateA HUD-approved course, online or in person, completed before closing on the nothing-to-repay option; the course cost is credited back at closing.

Assistance (second-lien) disclosuresOn the forgivable and repayable options, the second lien is a separate loan with its own number and disclosures; the repayable option carries a balloon disclosure.

Mortgage programFHA, USDA, or HUD-184 — with the county loan limit checked against the price, since only the repayable options carry a high-balance first lien.

Purchase contractThe executed purchase contract with the price the assistance is measured on; on a renovation loan, the price before the repairs are made.

Assets and reservesStatements showing the buyer’s own funds for anything the assistance does not cover, plus any reserves the first lien itself requires.

This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the mortgage, the assistance option, the property, and the eligibility category. Nothing here is legal or tax advice.

Virginia Beach File Considerations

Local details that can change the loan.

The assistance is the easy part; the rules around it are where Virginia Beach, VA files stall. These are the ones that most often change a file’s shape.

Before You Move Forward

Use these checks to keep the Virginia Beach file clean and fundable.

A clean Virginia Beach file starts with the option chosen, the first lien matched to the property, and the homebuyer education course completed where it is required.

Know the option: choose by cost to carry first, amount second.
Confirm the category: settle which category applies before the application is signed.
Consider a blended score: expect an automated approval, not a manual underwrite.

The option decides what you owe afterward

Choose the shape before the amount: the forgivable options cover the minimum investment and cost nothing to carry when the first lien stays current; the repayable option covers more and is repaid; where it is offered, a nothing-to-repay option released at closing costs nothing at all.

ii.

The eligibility category for the nothing-to-repay option

The nothing-to-repay option opens on any one of four categories — household income at or below the area limit, a community-service occupation, a first purchase, or a property in an underserved census tract — plus a homebuyer education course; the second-lien options need none of these.

iii.

Blended scores for two-borrower files

On the second-lien options, two occupying borrowers can qualify on the average of their representative scores when the higher earner has the higher score; the loan must carry an automated approval, and every borrower still needs a score.

iv.

Property type and unit count select the option

The property itself can move a Virginia Beach, VA file: a fourplex, a single-width manufactured home, or an unapproved condominium project each changes which option can attach, so the address is read before the option is promised.

The mortgage and the county loan limit

In Virginia Beach, VA, the first-lien program is chosen with the property: USDA where the address is eligible, HUD-184 where the buyer qualifies, FHA everywhere. The county loan limit then decides whether a larger first lien can still carry an assistance option.

A Clear Process

From a Virginia Beach pre-approval to keys with the assistance in place.

Four steps take a Virginia Beach, VA assistance file from a first read to funding; the first one is the one most buyers skip.

Pick the option

Lendmire reads the Virginia Beach scenario against the options offered in Virginia: the credit tier, the first lien, the unit count, the category, and whether the help must reach closing costs.

ii.

Get the mortgage approved

The first lien’s approval carries the file; the assistance is arranged alongside it, with the eligibility category and the education certificate in hand where they apply.

iii.

Clear the property

The property side of a Virginia Beach, VA file is where the option can change: unit count, project approval, and the loan limit are confirmed before the closing is scheduled.

iv.

Close both loans together

The Virginia Beach closing carries both instruments: the first lien and the assistance, each documented on its own and closed together, with the education certificate in the file where it applies.

Why Lendmire

A brokerage that pairs the assistance to the loan.

Down payment assistance is where a generalist stumbles: the options differ by first lien, by credit tier, by unit count, and by state, and the wholesale programs that carry them competently are a short list.

The option, matched to the buyer

Lendmire reads the options offered in Virginia against a Virginia Beach buyer’s credit, first lien, property, and category before anything is ordered, and names the fit by cost to carry.

ii.

The mortgage, matched to the property

FHA, USDA, or HUD-184 is chosen with the Virginia Beach property — its address, its unit count, its type — so the assistance option that pairs with it is the one that attaches.

iii.

The right wholesale program

Assistance programs differ across wholesale lenders in what they offer and where; Lendmire places a Virginia Beach, VA file where its credit, its first lien, and its property read best, subject to lender program eligibility.

Client Experiences

Trusted by first-time buyers & families alike.

Verified Google Reviews

    
 
 
          Joseph Edwards 
 
 
 
 Trustindex verifies that the original source of the review is Google. Highly recommend, Cori was awesome to work with and had great communication. She was very helpful and got us through everything to close.
  
 
         K Star Real Estate LLC 
 
 
 
 Trustindex verifies that the original source of the review is Google. Cori on the Lendmire team was phenomenal! She was two steps ahead through the entire process of purchasing an investment property.  She was solving problems before anyone knew there could have been a problem.  Great communication,  great availability,  all around a great person to work with.  She is the reason our deal closed.  We look forward to working with her again in the very near future!
  
 
         Tristen Mosley 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alayna Pack is very knowledgeable, helpful, communicative, and transparent. Highly recommend.
  
 
         J Mills 
 
 
 
 Trustindex verifies that the original source of the review is Google. Leigh is absolutely the best! Professional yet personable, diligent, and incredibly responsive. She was with us throughout the process and helped us secure a competitive rate. Leigh went above and beyond to make sure all of our questions were answered, and offered deep explanations for questions that arose. We felt supported through the entire process and trust her expertise completely. 5 stars!
  
 
         Tyjuana Atkinson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Awesome experience!!!!!!! Leigh had our best interest at heart from beginning to the end.
  
 
         Anna Hernandez 
 
 
 
 Trustindex verifies that the original source of the review is Google. Curt Galbraith was a Great Loan Originator and goes above and beyond for his clients, working with him on this transaction was so easy. I would recommend him for any Buyers looking to Buyer or Refinance. Great Service all around
  
 
         RustynKelli Shelton 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brenda is absolutely one of the most professional hardworking lenders we have ever dealt with; she’s helped clients of ours and now us personally. Her communication is top notch, you never feel like you’re forgotten or left to figure things out on your own, great to answer questions and explain each step. Definitely recommend Brenda to walk along beside you in your purchase process!
  
 
         Isaac Alonzo 
 
 
 
 Trustindex verifies that the original source of the review is Google. As a first time home buyer Curt Galbraith was a wonderful man, he explained everything i had questions about and took time out of his day to meet up late at nights after my night shift, to explain things to me .Over all  Curt was really helpful all through closing and always there when you needed him. Thank you so much Curt for helping me through out the whole process.
  
 
         Jason Fleck 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brenda, Samantha and the Lendmire team were absolutely fantastic to work with. We had to jump through some major hurdles to get this home done, which most lenders would have gave up, they kept pushing to get this home done for us. I would absolutely recommend Brenda and team to anybody. Thank you so much for your commitment, communication, perseverance through the whole process.

Jason & Brooke

Questions Virginia Beach Buyers Ask

Virginia Beach down payment assistance FAQs

Straight answers for Virginia Beach buyers weighing down payment assistance; the mortgage approval and the option’s rules decide every actual figure.

Do I have to be a first-time homebuyer?

No option requires it. A Virginia Beach buyer who has owned before qualifies for the second-lien options on credit, mortgage, and property alone, and for the nothing-to-repay option through any of the other categories.

Is there an income limit?

The second-lien options have none; the nothing-to-repay option has an area income limit that a qualifying occupation, a first purchase, or an underserved tract can substitute for.

What first-time home buyer programs are available in Virginia Beach?

Assistance measured as a percentage of the price, in shapes that differ by what you owe afterward: nothing, nothing if the mortgage stays current, or a second loan with a balloon. Credit, the mortgage, the property, and the eligibility category decide which fits.

Do I have to pay the assistance back?

It depends on the shape you choose. Grant-style help is released at closing and never repaid; a forgivable second lien is forgiven after the on-time period; a repayable second lien is a real second loan with a balloon. A Virginia Beach buyer chooses by what they want to carry after closing.

What credit score do I need?

It depends on the option. The lowest floor belongs to the nothing-to-repay option; the second-lien options start higher, and the mortgage’s own rules apply on top.

Can I use the assistance on a second home or a rental?

The assistance is for the home you live in; rentals and second homes are financed other ways.

Which mortgages can the assistance be used with?

The nothing-to-repay option pairs only with FHA; the forgivable and repayable second liens pair with FHA, USDA, and HUD-184, the closing-cost repayable option with FHA only. The property and the buyer decide which first lien fits.

Can the assistance cover closing costs too?

Yes, on the repayable options: the larger repayable option covers the minimum investment and a further share of the price for closing costs and prepaid items. The nothing-to-repay and forgivable options cover the minimum investment only.

Is there an option for refinancing?

Yes, a refinance-cost option: a repayable second lien sized as a share of the balance on an existing FHA loan, covering closing costs and keeping the first lien inside FHA leverage limits. It is not a streamline, and it cannot refinance a loan that already carries assistance.

What does Lendmire do on a Virginia Beach first-time home buyer file?

Reads the options offered in Virginia against the credit, the first lien, the property, and the category; chooses the wholesale program that carries the fit; packages the first lien and the assistance together; and manages both liens through closing. Lendmire is the broker, never the lender, and is not affiliated with FHA, USDA, HUD, or the federal government.

Get Started

The down payment is the hurdle. Let us clear it.

Request a scenario review with the price and the first lien in mind; Lendmire answers with the option, the floor, and what the file will need.

See my offer Size My Down Payment

Continue Exploring

This guide covers Virginia Beach — for the statewide options, categories, and property rules, see Down Payment Assistance in Virginia, part of Lendmire’s down payment assistance program.

Nearby markets in Virginia: Norfolk · Chesapeake · Portsmouth · Hampton · Cape Charles · Suffolk · Newport News · Williamsburg

Related programs: FHA Loans · USDA Loans · FHA 203(k) Rehab Loans