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

What is 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.

Do you have to pay it back?

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.

Who qualifies?

Down Payment / Closing Cost Assistance Program Plus (DPCC Plus) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved housing counseling agencies serving Loudoun County; 8-hour homebuyer-education certificate required..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application through Loudoun County Department of Housing and Community Development; first-come, first-served subject to annual funding., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.