Piedmont Housing Alliance Down Payment Loan Program

What is Piedmont Housing Alliance Down Payment Loan Program?

Piedmont Housing Alliance Down Payment Loan Program is a deferred second loan for homebuyers in Charlottesville, Virginia, administered by Piedmont Housing Alliance (CDFI).

• Piedmont Housing Alliance, a US Treasury-certified CDFI, administers funds loaned to homebuyers for down payment and closing costs. Most funds come from outside sources, each with its own eligibility and terms. Buyers qualify if household income is below 80% AMI; eligibility and funding source are determined through a housing counseling session after the 'DPA with PHA' class and intake. PHA has helped more than 800 families and deployed more than $7 million in down payment assistance.
• Down payment and closing cost loan assistance from multiple funding pools.
• Housing counseling and financial coaching.
• DPA with PHA education class.
• Combinable with SPARC 1% rate reduction.
• CDFI-administered.
• Funding comes from Multiple outside funding sources administered by Piedmont Housing Alliance (each with its own eligibility and terms).

Do you have to pay it back?

Piedmont Housing Alliance Down Payment Loan Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Piedmont Housing Alliance Down Payment Loan Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Piedmont Housing Alliance Down Payment Loan Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income below 80% of Area Median Income. Income limits updated each spring; 2026 AMI charts published by Piedmont Housing Alliance.
• 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.

Where does it apply?

Piedmont Housing Alliance Down Payment Loan Program serves buyers purchasing in Charlottesville, Virginia.

How do you apply?

Applications for Piedmont Housing Alliance Down Payment Loan Program go through Piedmont Housing Alliance (CDFI), 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 Piedmont Housing Alliance 'DPA with PHA' class and housing counseling/financial coaching.

2. 2

   Contact Piedmont Housing Alliance (CDFI) to reserve funds

   Funds are reserved with the provider 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.