Mortgage guidance · Licensed state
Mortgage broker serving Virginia
Michael DuBois is a mortgage broker serving eligible buyers and homeowners in Virginia, one of 14 states where he is licensed through Stonebridge Mortgage Inc. For first-time buyers, Virginia Housing publishes a homeownership program worth checking before you commit to a financing plan.
Which Virginia first-time-buyer resource is available?
Virginia Housing Down Payment Assistance Grant is published by Virginia Housing. Virginia Housing describes this as a true grant that does not require repayment. Its official page says a recipient must be a qualified first-time homebuyer, or a repeat buyer purchasing in an Area of Economic Opportunity; use a bond FHA or conventional Virginia Housing loan; meet Virginia Housing household-income limits; and remain within its sales-price/loan limits. The grant may only be used with eligible Virginia Housing loans.
Program availability, rates and borrower eligibility change. Ask the agency or a participating lender to confirm the current rules for the property and your application.
How might Virginia property taxes affect the payment?
Virginia real-estate/property taxes are local taxes administered by cities, counties, and towns; rates, due dates, and payment rules differ by locality. Check the applicable local tax office for the property.
Official references: Virginia property tax guidance
Get a property-specific estimate from the local assessor or tax office; a seller's existing bill might not reflect your future taxes.
What should a Virginia buyer know about closing costs?
Closing costs vary by transaction and should be reviewed in the lender’s disclosures. Virginia Housing’s official Closing Cost Assistance Grant page says qualified first-time buyers (or repeat buyers in Areas of Economic Opportunity) using a Virginia Housing bond RHS or VA loan and meeting its limits may receive a grant of up to 2% of purchase price for closing costs, RHS guarantees, or VA funding fees, with no repayment; program conditions apply.
References: Virginia Housing: closing cost assistance · CFPB: mortgage closing costs
Review the Loan Estimate and Closing Disclosure for your actual numbers and any credits or assistance. Michael can help you ask the right questions while the lender and settlement provider confirm the figures.
Virginia mortgage questions
Can a Virginia first-time buyer get help with a down payment?
Yes, potentially. Virginia Housing’s Down Payment Assistance Grant is intended for qualified first-time buyers, but it must be paired with an eligible Virginia Housing bond FHA or conventional loan, and household-income and sales-price/loan limits apply. An approved lender can review your situation.
Where can Virginia buyers check first-time-buyer programs?
Begin with Virginia Housing’s official homebuyer pages, including the Down Payment Assistance Grant information, and then consult an approved lender. That lender can explain which current Virginia Housing option fits your loan and property.
How are property taxes handled in Virginia?
Virginia real-estate taxes are set locally rather than through one uniform statewide schedule. The city, county, or town tax office for the property can confirm the applicable rate, due date, and payment rules.
Which closing costs should a Virginia buyer plan for?
Use the lender’s Loan Estimate and Closing Disclosure to identify the transaction-specific charges instead of assuming a standard total. For eligible borrowers using a Virginia Housing bond RHS or VA loan, ask whether its Closing Cost Assistance Grant—up to 2% of the purchase price—may cover closing costs, an RHS guarantee, or a VA funding fee.
Does the Virginia Housing Down Payment Assistance Grant guarantee assistance?
No—assistance is not guaranteed merely because someone is a first-time buyer. Virginia Housing still requires an eligible bond FHA or conventional loan, applicable income and sales-price/loan limits, and approval of the borrower’s specific transaction.