Down Payment / Closing Cost Assistance Program Plus (DPCC Plus)

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) is a deferred second loan for homebuyers in Loudoun County, Virginia. DPCC Plus is Loudoun County's higher-income tier of the Down Payment / Closing Cost Assistance Program for first-time homebuyers. It serves moderate- to middle-income buyers earning above the standard DPCC threshold but at or below 100% AMI for the Washington-Arlington-Alexandria HMFA. Provides up to $25,000 as a 0% interest deferred-payment second mortgage. Funds sourced from Loudoun County general fund and HUD HOME pass-through dollars. Administered by Loudoun County Department of Housing and Community Development. Up to $25,000 in down-payment and closing-cost assistance for moderate-income first-time homebuyers purchasing in Loudoun County. Provided as a 0% interest deferred-payment second mortgage. No monthly payments. repaid upon sale, refinance with cash-out, transfer, or loss of primary-residence status. Funding comes from HOME, Federal, and Local Government.

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Deferred 0% second-mortgage repayable in full upon sale, refinance with cash-out, transfer, or loss of primary-residence status. The assistance is recorded in 2 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer (no ownership of residential real estate in prior 3 years). On credit, the program states: 620 minimum FICO. A homebuyer education course is required, through HUD-approved housing counseling agencies serving Loudoun County; 8-hour homebuyer-education certificate required. Residency requirement: Property must be located within Loudoun County, VA, and be the buyer's primary residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen permitted by HUD HOME rules. Property must be located in Loudoun County and be the buyer's primary residence. Buyer must be a first-time homebuyer (no ownership in prior 3 years). Household income between $80,350 (1-person minimum) and $216,350 (8-person maximum) tracking 100% AMI for the Washington-Arlington-Alexandria HMFA - serves higher-income buyers above the standard DPCC tier. Minimum 620 FICO. 8-hour HUD-approved homebuyer education required.

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) limits household income to 100% of the area median income, which varies by county and household size. Household income between $80,350 (1-person minimum threshold) and $216,350 (8-person maximum) at 100% AMI for Washington-Arlington-Alexandria HMFA. Higher-income tier above standard DPCC. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) caps the purchase price as follows: Tracks Virginia Housing maximum sales price for Loudoun County. Eligible property types include Single-family detached, Townhouse, and Condominium. New construction is eligible. Manufactured homes are not eligible.

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) serves homebuyers purchasing in Loudoun County, Virginia.

Applications for Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application through Loudoun County Department of Housing and Community Development; first-come, first-served subject to annual funding. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.