Prince William County First-Time Homebuyer (FTHB) Program

Prince William County First-Time Homebuyer (FTHB) Program is a deferred second loan for homebuyers in Woodbridge, Virginia, administered by Prince William County Office of Housing and Community Development. Prince William County's FTHB Program provides down payment and closing cost assistance to low- and moderate-income first-time buyers who live or work in the Prince William Area (the county and the cities of Manassas and Manassas Park). Assistance is a 30-year deferred second-trust loan with shared market appreciation, funded by federal HOME dollars. Buyers complete three financial education/counseling sessions and contribute at least 1% of their own funds. Down payment & closing cost assistance. 0% interest, no monthly payments. 30-year deferred. Available to buyers who work (not just live) in the area. Funding comes from Federal HOME Investment Partnerships allocation.

Prince William County First-Time Homebuyer (FTHB) Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Due and payable if property no longer principal residence, sold, transferred, or first loan refinanced to remove equity; includes shared market appreciation. The assistance is recorded in Second (subordinate) lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Prince William County First-Time Homebuyer (FTHB) Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: No residential ownership interest anywhere in last 3 years. On credit, the program states: Min middle score 640; no outstanding judgments/collections (medical must be paid); no late payments in last 12 months. A homebuyer education course is required, through Virginia Cooperative Extension (Smart Money Management + HUD-certified counseling) plus Virginia Housing Home Ownership Seminar. Residency requirement: Must live or work in the Prince William Area (PWC, City of Manassas, or City of Manassas Park); property within that area. Citizenship or immigration status: All occupants U.S. citizens or qualified persons with valid USCIS documents. No payday/title loans or negative deposit balances in last 6 months; min 2 yrs since bankruptcy discharge; extra restrictions after prior foreclosure/deed-in-lieu/short sale. Applications only during open, funded periods.

Prince William County First-Time Homebuyer (FTHB) Program limits household income to 80% of the area median income, which varies by county and household size. Combined gross household income at/below 80% AMI (Washington-Arlington-Alexandria HUD area) by household size. 4-person 80% = $106,800 (eff 6/1/2026); 1-person $74,800 to 8-person $141,000. 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.

Prince William County First-Time Homebuyer (FTHB) Program caps the purchase price at $399,000.

Prince William County First-Time Homebuyer (FTHB) Program serves homebuyers purchasing in Woodbridge, Virginia.

Applications for Prince William County First-Time Homebuyer (FTHB) Program go through Prince William County Office of Housing and Community Development, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served during open application periods (Neighborly portal); waitlist when funds depleted. 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.