Equal Housing Lender
Fairway NMLS #2289
Ken Powell NMLS #2656628
Virginia Housing, formerly known as VHDA, is the state's housing finance authority. For eligible buyers, its programs can layer down payment assistance and closing cost help on top of a standard first mortgage. Ken is licensed in Virginia and serves Stafford, Fredericksburg, Northern Virginia, and Hampton Roads.
Virginia Housing has offered down payment assistance both as grants, which are not repaid, and as second mortgages, which are. Which structure applies depends on the specific program option and your loan type.
Assistance pairs with Virginia Housing first mortgages layered over standard loan types such as FHA, VA, USDA, and conventional. Fixed rates, standard terms, familiar underwriting.
First-time buyer options generally require a homebuyer education course. It is genuinely useful, and completing it early keeps your timeline clean.
Limits and program options change periodically. Current details are published at virginiahousing.com.
State assistance is a tool, not automatically the best tool. Grant-style assistance is genuinely attractive for buyers short on cash. But assistance programs come with rate structures and rules of their own, and for some buyers a standard loan with seller credits wins the side-by-side.
Ken runs Virginia scenarios both ways and shows you the actual numbers, the same way he compares MMP and county programs for Maryland buyers.
Buying in Maryland instead? See the Maryland Mortgage Program and Down Payment Assistance.
Tell Ken where you are looking, your household income, and your price range. He will tell you which Virginia Housing options may fit and what the strongest overall structure looks like.