creating foundations for hope

Help with a downpayment is often just what’s needed for someone to buy a first home – and change their family’s trajectory for generations.


  • Must be first-time homebuyer

    • Never owned a home before, or
    • Have had no ownership interest in real estate in the last 3 years
  • Total Gross Household Income cannot exceed 80% of the area median income, adjusted for family size, as defined by HUD  

  • Household income includes all of the following

    • Wages, salaries, tips, etc.
    • Business income
    • Interest & dividend income
    • Retirement and insurance income
    • Unemployment & disability income
    • Welfare Assistance, alimony, child support & gift income
    • Armed forces income
  • Cash assets cannot be greater than 10% of the sales price of the home

  • Down Payment Assistance cannot exceed 10% (15% in high cost areas) of the sale price of the home.


  • Complete the CFH application documents and submit all documents completed and signed if necessary

  • Participate in CFH homeownership counseling

  • Complete a HUD-certified Homebuyer Education Class

  • Possess a signed purchase offer for a property that is a turn-key property

  • Provide an Earnest Money Deposit equal to 1% of sales price

    • Cannot be less than $1000
  • Have a home inspection completed

  • Cannot receive any cash at closing (Buyer may not receive cash back at closing)

  • Sign a Homebuyer Agreement

  • Sign a Promissory Note

  • Sign a Second Deed of Trust

  • Loan cannot exceed 95% LTV (Loan to Value)

  • Meet mortgage/lender requirements

  • Have an FHA appraisal

  • Property must be owner occupied (principal place of residence) for entire amount of Affordability Period

    • Failure to occupy property will result in State recouping total amount of assistance
    • If owner occupied throughout Affordability Period, Second Trust (Down Payment Assistance) is forgiven
    • Affordability Period is based on the amount of assistance

Property Requirements

  • Property must be 1 unit

  • Duplex units are eligible if one unit is buyer occupied

  • Single Family Detached unit

  • Town Home

  • Condo

  • Manufactured units

  • Must meet Virginia Housing Program Standards (HQS + VA Pre-Post)

Recapture of Funds

  • Funds equal to the amount of assistance received or the balance of the assistance not repaid will be recaptured if any of the following events occur during the affordability period:

    • Property is re-financed
    • Property is sold
    • Foregivable second trust is assumed by another person
    • Property is no longer the principal place of residence
    • Property cannot be leased or rented to another person
    • Property cannot be renovated to reduce the number of bedrooms
    • Threatened or actual breach of covenants
  • Covenants remain in effect during the affordability period


  • CFH will begin processing as soon as the Application Package is received.

  • CFH will complete processing when the applicant provides all the additional documents

Affordability Period

Amount of Assistance Affordability Period
Up to $14,999 Five (5) Years
Between $15,000 and $40,000 Ten (10) Years
Over to $40,000 Fifteen (15) Years

Current Income Eligibility for CFH NoVA DPA (updated with HUD’s most recent figures):

One Two Three Four Five Six Seven
$68,500 $78,250 $88,050 $97,800 $105,650 $113,450 $121,300