Home Buyer Programs

Throughout Virginia, Maryland, and Washington, D.C., many different programs are designed to make the dream of homeownership more of a reality. These programs can be in the form of down payment assistance, a credit for first-time buyers, financial incentives to reinvest in certain areas of the community, discounts on property taxes, or specific programs for our teachers and first responders.  

 

Many jurisdictions have programs that are designed specifically for city or state employees so that they can live in the same communities where they work.  

 

We encourage you to reach out to Susan and Joe, or one of our recommended mortgage lenders to see if one or more of these programs can help you in your efforts to become a homeowner. And don't forget to take advantage of the Corcoran McEnearney Buyer's Guide.

 

Northern Virginia offers a variety of local and state-level programs tailored to first-time and moderate-income homebuyers. These include down payment assistance, affordable housing units, and specialized loans for public employees. Key counties like Arlington, Fairfax, Alexandria, and Loudoun provide targeted support to address high housing costs in the region.

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• Overview: This program provides access to new and resale homes at below-market prices for qualified first-time buyers.
• Eligibility: Applicants must be first-time homebuyers (no home ownership in the past three years), meet income limits based on household size (typically up to 120% of Area Median Income or AMI), complete homebuyer education, and intend to occupy the home as their primary residence.
• Benefits: Homes are priced affordably, often with resale restrictions to maintain long-term affordability. No direct cash assistance, but significant savings on purchase price.
• Application: Apply through the Fairfax County Department of Housing and Community Development; involves a lottery for available units.

• Overview: Loudoun County administers four programs: Down Payment/Closing Cost (DPCC), DPCC Plus, Public Employee Grant (PEG), and Sponsoring Partnerships and Revitalizing Communities (SPARC).
• Eligibility: First-time buyers (no ownership in past three years), income up to 100% AMI for most programs; PEG is for public employees like teachers and firefighters; SPARC targets specific revitalization areas.
• Benefits:
• DPCC: Up to $25,000 in deferred loans for down payment and closing costs.
• DPCC Plus: Additional assistance up to $10,000 for those with disabilities or caring for disabled family members.
• PEG: Grants up to $10,000 for eligible public employees.
• SPARC: Up to $50,000 in assistance for homes in designated areas, often forgivable after a residency period.
• Application: Contact Loudoun County Housing Services; requires pre-approval from a lender and homebuyer counseling.

• Overview: The Office of Housing offers financing, education, and access to affordable resale homes.
• Eligibility: First-time buyers earning up to 80-120% AMI, depending on the program; must complete counseling and not own a home currently.
• Benefits: Reduced-interest loans, down payment assistance up to 5% of purchase price, and priority access to moderately priced dwelling units (MPDUs).
• Application: Attend free homebuyer workshops; apply via the city's housing portal. Updated as of July 2025.

• Overview: Provides affordable for-sale units in new developments for moderate-income buyers.
• Eligibility: Household income between 70-120% AMI; first-time buyers preferred but not required; must occupy as primary residence.
• Benefits: Units priced 20-30% below market value; long-term affordability controls (e.g., resale price caps).
• Application: Units allocated via lottery; requires certification from Fairfax County.

• Overview: Offers no-interest loans to help with down payments.
• Eligibility: First-time buyers with income up to 80% AMI; must buy in Arlington and complete counseling.
• Benefits: Loan up to 25% of purchase price (max $112,500), deferred and partially forgivable with shared appreciation upon resale.
• Application: Apply through Arlington's housing division; limited funding, so early application is key.

• Overview: Virginia Housing (formerly VHDA) offers grants and loans statewide, applicable in Northern Virginia.
• Eligibility: First-time buyers (no ownership in past three years); income and purchase price limits vary by county (e.g., higher in Arlington/Fairfax).
• Benefits: Down Payment Assistance Grant (up to 2.5% of purchase price, no repayment), Closing Cost Assistance, and low-interest mortgages. As of 2025, limits are updated annually.
• Additional Resources: Attend the Northern Virginia Housing Expo (next on April 12, 2025) for workshops and lender info.

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The Maryland suburbs near DC, particularly Montgomery and Prince George's counties, feature robust state and local programs. These often include forgivable loans, grants, and affordable housing initiatives, with a focus on first-time buyers and community revitalization.

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• Overview: A first-time homebuyer assistance program providing down payment and closing cost help.
• Eligibility: First-time buyers (no ownership in past three years); income up to 120% AMI; must buy in Prince George's County and complete education course.
• Benefits: Up to $25,000 in assistance (increased to $50,000 in some cases as of June 2025); forgivable after 10 years of residency.
• Application: Guidelines updated August 2024; apply through participating lenders or the Redevelopment Authority. Participating lender list available as of June 2025.

• Overview: Statewide program offering competitive loans and assistance, with special options for Prince George's and Montgomery counties.
• Eligibility: First-time buyers preferred; income limits vary (e.g., up to $150,000+ for families in suburbs); must use approved lenders.
• Benefits: Low-interest 30-year fixed-rate mortgages; down payment assistance up to 5% as a forgivable loan; additional $25,000 in Prince George's via Pathway integration.
• Application: Includes homebuyer education; check for 2025 updates on rates and limits.

• Overview: Requires developers to include affordable units in new projects for purchase.
• Eligibility: First-time buyers; no home ownership in past five years; income up to 70-80% AMI.
• Benefits: Units sold at controlled prices (often 50% below market); long-term resale restrictions.
• Application: Lottery system; requires orientation session from Montgomery County DHCA.

• Overview: Enhances MMP with county-specific down payment help.
• Eligibility: Qualifying borrowers under MMP; income-based.
• Benefits: Second mortgage equal to 40% of income, up to $25,000 for down payment/closing; deferred repayment.
• Application: Paired with MMP application through approved lenders.

• Overview: Nonprofit offering counseling, workshops, and assistance in Prince George's and Montgomery.
• Eligibility: Low-to-moderate income first-time buyers; must attend workshops.
• Benefits: Access to grants, low-interest loans, and revitalization projects; virtual/in-person homebuyer education sessions throughout 2025.
• Application: Register for workshops via HIP website; focuses on green, affordable housing.

• Various grants and deferred loans available statewide, up to $10,000-20,000, forgivable after 5-10 years. Focus on suburbs with higher costs.
• Homebuyer education workshops, like those from LEDC Metro, scheduled through December 2025 in Montgomery and Prince George's.

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Washington, DC has targeted programs for first-time and low-to-moderate income buyers, emphasizing down payment gaps and tax incentives. These are administered by the Department of Housing and Community Development (DHCD) and other agencies, with funds replenished annually.

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• Overview: Provides significant down payment and closing cost assistance to first-time buyers.
• Eligibility: First-time buyers (no DC home ownership in past three years); income from very low (50% AMI) to moderate (110% AMI); must complete counseling.
• Benefits: Up to $202,000 for down payment (based on income/need) and $4,000 for closing costs; deferred loan, interest-free, forgivable after five years.
• Application: Funds dashboard tracks availability for FY 2025 (starting October 2024); apply via DHCD portal.

• Overview: Offers home purchase loans with down payment assistance.
• Eligibility: Open to first-time and repeat buyers; income up to 150% AMI; minimum credit score and debt-to-income ratios apply.
• Benefits: 3-3.5% down payment assistance as a forgivable loan; competitive mortgage rates; can combine with other programs.
• Application: Through approved lenders; no asset limits.

• Overview: Reduces property transfer taxes for eligible buyers.
• Eligibility: First-time DC buyers; purchase price under $625,000 (as of 2025 limits).
• Benefits: Tax rate drops from 1.1-1.45% to 0.725%; potential savings of thousands.
• Application: Automatic at closing if qualified; verify with DC Recorder of Deeds.

• Overview: For DC government employees buying in the District.
• Eligibility: Full-time DC employees with at least one year of service; first-time buyers preferred.
• Benefits: Up to $20,000 in assistance, forgivable after five years of employment and residency.
• Application: Through DHCD; combines with HPAP.

• HCV Homeownership Program: Allows Housing Choice Voucher holders to use vouchers toward mortgage payments; special fees for closings.
• Pending 2025 legislation may expand incentives; at least 37 states including DC have related bills.

Please note that the availability and qualifications for each of these programs are subject to change.