Richmond Down Payment Assistance (Henrico, Chesterfield)
The Richmond region balances growth with prices more attainable than Northern Virginia, so Virginia Housing help goes far here. A grant you never repay, or a larger repayable second, can cover your down payment. Here is how it works across metro Richmond.
How Virginia Housing works in metro Richmond
The Richmond region, the city plus Henrico and Chesterfield counties, has grown steadily while keeping prices more attainable than Northern Virginia. That makes Virginia Housing assistance effective here: on a moderately priced Richmond home, a grant or the Plus Second Mortgage covers a meaningful share of the down payment and closing costs. Virginia Housing offers the DPA and CCA Grants (never repaid) and the larger repayable Plus Second, and a 620 credit score qualifies for either with a Virginia Housing first mortgage.
Buying across the Richmond region
Metro Richmond gives first-time buyers real choice. Inside the city, Southside, the East End, and the neighborhoods near VCU carry affordable homes and steady revitalization. Henrico County spreads east toward Sandston and Varina and north toward Glen Allen, while Chesterfield County to the south, Midlothian, Chester, and the Route 360 corridor, has added a lot of newer construction. Outer counties like Hanover and Powhatan round out the region, each with its own Virginia Housing limits.
Grant or Plus Second in Richmond?
Because Richmond prices are moderate, the choice is often cleaner here. A DPA Grant plus a CCA Grant toward closing can get a first-time buyer very close to covered, with nothing to repay, on a lot of Richmond-area homes. If you need more than the grants provide, the Plus Second Mortgage adds a larger, repayable amount. We run both against your target price so you take the right mix. Compare them on our grant vs. Plus Second page.
Virginia Housing sets income and sales-price limits by locality (with lower limits on the grant programs) and publishes the current grant and Plus Second Mortgage amounts on Virginia Housing. Confirm your figures before relying on one. See our eligibility page.
Common questions
What down payment assistance is available in Richmond?
Virginia Housing offers a DPA Grant and CCA Grant (grants you never repay) toward down payment and closing costs, plus a larger repayable Plus Second Mortgage. Because Richmond prices are more attainable, the assistance covers a larger share of a typical purchase than in Northern Virginia.
Is Richmond down payment assistance a grant?
The DPA Grant and CCA Grant are true grants you never repay. Virginia Housing also offers a Plus Second Mortgage, which is a larger repayable second. You choose the one, or the mix, that fits your purchase.
What credit score do I need for down payment assistance in Richmond?
Virginia Housing requires a 620 minimum credit score. The assistance pairs with conventional (including reduced or no MI), FHA, VA, or USDA first mortgages, and income limits are set by locality.
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