Can I Buy a House with No Money Down in Virginia?

The short answer is yes, you can buy a house with no money down in Virginia, and in some cases with near-zero out-of-pocket cost. Whether you actually qualify depends on who you are, where the home sits, and how you combine the available programs. As a Virginia Beach real estate agent who has helped buyers close more than 1,000 transactions, I walk first-time buyers through these options every week, and the right path often costs far less than people assume.

The VA Loan: A True Zero-Down Option

For eligible veterans, active-duty service members, and many National Guard and Reserve members, the VA loan is the clearest zero-down path anywhere. It offers 100 percent financing with no down payment and no private mortgage insurance. There is a one-time VA funding fee, typically 1.25 to 3.3 percent of the loan amount, unless you are exempt, which is common for veterans with a service-connected disability. The benefit is reusable, so military families can use it again and again. If you are exploring this, my military and veteran home buying page explains how the pieces fit together, and our complete VA loan guide for Hampton Roads takes you through the whole process step by step.

USDA Loans for Eligible Areas

The USDA Rural Development loan offers true 100 percent financing for low-to-moderate-income buyers purchasing in eligible rural and suburban areas of Virginia. There is no down payment and no PMI, though you do pay a 1 percent upfront guarantee fee plus a small annual fee. Income limits and property-location eligibility apply, so you need to check the USDA eligibility map for the specific address. Parts of the wider Hampton Roads region qualify, which makes this a strong option for buyers who are outside the VA benefit.

Virginia Housing (VHDA) Down Payment Assistance

Virginia Housing, the state housing finance agency, offers a down payment assistance grant of up to 2 to 2.5 percent of the purchase price that never has to be repaid. It pairs with a Virginia Housing FHA or conventional first mortgage, and combined with the 1 percent minimum buyer contribution, buyers can get to the closing table with effectively about 1 percent down. Requirements typically include a credit score around 620 for FHA or 640 to 660 for conventional, a debt-to-income ratio at or below 45 percent, and income limits. There is also a Virginia Housing Plus second mortgage that can cover the down payment and closing costs so you put little or nothing down.

State and Local Grants That Stack Up

Beyond Virginia Housing, the state DHCD runs the HOMEownership down payment assistance program, which gives qualifying first-time buyers at or below 80 percent of the area median income up to 10 percent of the purchase price as an interest-free, fully forgivable loan. The Virginia Pilot DPA offers first-time buyers at or below 60 percent of area median income up to $50,000 as a deferred loan. Several counties and cities add their own programs on top. Because FHA loans alone require 3.5 percent down, the common strategy for non-veterans outside USDA areas is to pair an FHA mortgage with one of these grants to reach zero or near-zero cash to close.

How to Put It All Together

The key is to start with a lender who knows which programs apply to your situation and to pair that with an agent who understands the local market. Down payment assistance rules change and income limits vary, so getting current numbers before you tour homes saves a lot of wasted effort. When you are ready to look at what it takes to buy a home in this market, or if you are just starting out and want the full picture, our first-time buyer hub is a good place to begin. Whatever your path, the goal is to get you into a home you can afford in the Virginia Beach real estate market without stretching your budget.