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HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network

Blue Ridge Housing Network, Inc. (BRHN) - regional administrator for the Virginia DHCD HOMEownership DPA program · Winchester City, Frederick, Clarke, Warren, Page, Shenandoah County, Virginia

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Assistance

$1,000–$40,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network is a deferred second loan for homebuyers in Winchester City, Frederick, Clarke, Warren, Page, Shenandoah County, Virginia, administered by Blue Ridge Housing Network, Inc. (BRHN) - regional administrator for the Virginia DHCD HOMEownership DPA program.

  • The HOMEownership Down Payment & Closing Cost Assistance Program (DPA), administered locally by Blue Ridge Housing Network for the Northern Shenandoah Valley (City of Winchester and Clarke, Frederick, Page, Shenandoah, and Warren counties), provides flexible gap financing to first-time homebuyers at or below 80% of area median income. Income-eligible buyers may receive up to 10% of the sales price (up to 15% in this designated high-cost region) plus up to $2,500 toward closing costs, with a maximum total of $40,000. Assistance is a 0% interest, no-payment deferred (silent second) loan secured by a deed of trust that is fully forgiven after a 5- or 10-year affordability period.
  • Up to 10% (15% in high-cost area) of sales price toward down payment.
  • Up to $2,500 toward closing costs.
  • Maximum $40,000 total assistance.
  • 0% interest, no monthly payments.
  • Fully forgivable after 5- or 10-year affordability period.
  • Free housing counseling.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from HUD HOME Investment Partnerships Program funds allocated through Virginia DHCD.

How much assistance does it provide?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network offers between $1,000 and $40,000 in assistance.

  • Award tiers: Affordability period set by subsidy amount: $1,000-$14,999 = 5 years; $15,000-$40,000 = 10 years. Up to 10% of sales price (15% in designated high-cost/depressed localities, which include the BRHN service area) plus up to $2,500 closing costs.
  • Buyer contribution: Buyers 50%-80% AMI contribute 1% of sales price from personal funds; buyers under 50% AMI contribute $500.
  • The program can be combined with VIDA, ARS (Acquire, Renovate, Sell), Virginia Housing DPA, Virginia Housing SPARC, FHLB programs, USDA programs, Fannie Mae/Freddie Mac assistance programs.
  • Amounts are the program's published maximums, not an offer — Blue Ridge Housing Network, Inc. (BRHN) - regional administrator for the Virginia DHCD HOMEownership DPA program determines any individual award.

Do you have to pay it back?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Sale, transfer of title, loan assumption, or ceasing to occupy the home as principal residence during the affordability period.
  • The assistance is recorded in Second (silent/deferred second deed of trust behind the first-trust mortgage) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Never owned a home OR not held primary ownership in a principal residence within the most recent three-year period (with special cases for mobile homes titled as personal property and non-occupied investment/inherited property).
  • The home is occupied as a primary residence
  • On credit: FICO median score of 620; at least 3 trade lines open and current. Alternative credit may be considered.
  • A completed homebuyer education course, through HUD-certified homebuyer education course through Virginia Housing, NeighborWorks, or a HUD-certified agency; one-on-one counseling required (BRHN provides counseling free).
  • [Unparsed numeric values moved to notes: max_liquid_assets: Homebuyers with cash assets of 10% or more of the sales price are ineligible (excluding assets that cannot be liquidated without penalty).] First-time homebuyer; household income at or below 80% AMI; minimum 620 median FICO with 3+ open/current trade lines; minimum 90-day work history; complete HUD-certified homebuyer education and one-on-one counseling; 1% buyer contribution (50-80% AMI) or $500 (under 50% AMI); cash assets under 10% of sales price; fixed-rate first mortgage only; property must pass UPCS inspection and appraisal.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network limits household income to 80% of the area median income, which varies by county and household size.

  • Total household income at or below 80% of Area Median Income as established by HUD for household size and locality; income for all household members over 18 counted (full-time students 18+ excluded).
  • The limit applies to total household income, not only the borrower’s.
  • 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?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network caps the purchase price as follows: Home value/sales price may not exceed 95% of the area median home sales price (HUD 203(b) limits), established annually by HUD.

  • Eligible property types include Single Family, 2-4 Unit, Townhouse, Condo, Modular, and Manufactured.
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network is a federal program, so it is not limited to Virginia.

  • The program targets specific areas: Designated high-cost/chronically economically depressed localities receive up to 15% of sales price (vs 10% standard). Winchester, Frederick, Clarke, Warren, Page, and Shenandoah qualify for the 15% tier.

How do you apply?

Applications for HOMEownership Down Payment & Closing Cost Assistance Program (DPA) - Blue Ridge Housing Network go through Blue Ridge Housing Network, Inc. (BRHN) - regional administrator for the Virginia DHCD HOMEownership DPA program, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-certified homebuyer education course through Virginia Housing, NeighborWorks, or a HUD-certified agency; one-on-one counseling required (BRHN provides counseling free)..

  2. Contact Blue Ridge Housing Network, Inc. (BRHN) - regional administrator for the Virginia DHCD HOMEownership DPA program to reserve funds

    Funds are reserved through First-come, first-served; funds cannot be reserved until the homebuyer is pre-approved by a lender and meets DPA eligibility guidelines, and are subject to availability.

  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.

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