Make Homeownership More Accessible with Down Payment Assistance
We believe that homeownership in Charlottesville—whether it’s a brick colonial near UVA, a cozy Belmont bungalow, or a new build out in Albemarle County—should be within reach for everyone.
For many local families and first-time buyers, the biggest challenge isn’t the monthly payment—it’s saving for that initial down payment. That’s where down payment assistance (DPA) programs come in. These programs are designed to help bridge the gap, so you can stop renting and start building equity right here in Central Virginia.
What is Down Payment Assistance?
Down payment assistance programs provide financial support for buyers who may struggle to cover the upfront costs of a home purchase. These programs can take many forms—grants, forgivable loans, or even employer benefits—and are often offered through government agencies, nonprofits, or community-focused lenders.
For Charlottesville residents, this can mean the difference between continuing to rent near the Downtown Mall and finally buying that first home in Forest Lakes, Hollymead, or Fry’s Spring.
Types of Down Payment Assistance We Offer
Grants: Free funds that don’t need to be repaid—perfect for first-time buyers in Charlottesville who qualify.
Second Mortgage Loans: Low- or no-interest loans that reduce upfront costs and are repaid later, often when you sell, refinance, or move.
Deferred Payment Loans: Nothing to repay until you sell or refinance—so you can focus on your new home near UVA or in Albemarle County.
Forgivable Loans: If you stay in your home for a set number of years, the loan is forgiven. A great option for families planning to put down roots here.
Employer-Assisted Housing (EAH): Some local employers—including hospitals, universities, and large companies—offer down payment help as a benefit.
Who Qualifies for Down Payment Assistance in Charlottesville?
Eligibility depends on the program, but here are some common factors:
First-Time Homebuyers – Many programs are designed specifically for buyers who haven’t owned a home in the last three years.
Income Limits – Some assistance is based on household income, adjusted for our region’s cost of living.
Property Type – Usually must be a primary residence, including single-family homes, condos, or townhomes.
Credit Requirements – Some programs are flexible, others require a minimum score.
How We Can Help
Buying a home in Charlottesville can feel overwhelming—especially with rising prices and competitive offers. Our team knows the local programs and resources available, and we’ll help you:
Explore Options: Find out which DPA programs are available in Central Virginia.
Simplify the Process: We’ll guide you through applications and paperwork.
Maximize Benefits: Make sure you get every bit of help you qualify for.
Why Choose Us?
Local Expertise: We know Charlottesville’s housing market, from downtown condos to Albemarle estates.
Tailored Solutions: Your financial situation is unique—your loan strategy should be too.
Trusted Experience: We’ve helped countless families in Charlottesville unlock the door to homeownership.
Ready to Stop Renting in Charlottesville?
Don’t let the down payment hold you back from owning your dream home. Whether you’re eyeing a townhome near 5th Street Station or a family house in Crozet, we’ll connect you with the programs that make homeownership possible.
📞 Contact us today to learn how down payment assistance can make your Charlottesville dream a reality.
