Summary answer: Yes — Virginia Housing's Down Payment Assistance (DPA) Grant offers 2.5% of purchase price (FHA) or 2.0% (Conventional) that doesn't need to be repaid, with a $500,000 sales price cap and income limits of $148,000 (households of two or fewer) or $174,000 (three or more) for the Washington-metro area, which includes Fairfax County. A Standard Bond option offers higher income limits ($186,000/$217,000) with an $800,000 sales price cap, covering most of Centreville's inventory.
I'm Johnny with JQ Real Estate. Given Centreville's price range, knowing which program fits matters a lot.
The two main Virginia Housing options
| Program | Assistance | Income Limit (2 or fewer / 3+) | Sales Price Cap |
|---|---|---|---|
| DPA Grant | 2.5% (FHA) or 2.0% (Conventional) of purchase price, no repayment | $148,000 / $174,000 | $500,000 |
| Standard Bond | Below-market rate financing | $186,000 / $217,000 | $800,000 |
Why the price cap fits Centreville well
The DPA Grant's $500,000 cap fits Centreville's condo market and reaches into Centre Ridge's townhome inventory. The Standard Bond's $800,000 cap covers most of Sully Station and reaches into Virginia Run's lower end — meaning most of Centreville's realistic inventory qualifies for one program or the other.
Basic eligibility requirements
- First-time buyer status — no homeownership in the preceding three years (some exceptions apply in targeted areas)
- Minimum credit score of 620
- At least 1% borrower contribution toward the purchase
- Household income under the applicable limit for your household size
How this plays out for a real Centreville purchase
On a $400,000 condo using an FHA loan with the DPA Grant, that's a $10,000 grant toward your down payment and closing costs — money you never repay.
What if you're over the income or price limits?
You're not out of options — local and employer-based assistance programs exist too, plus gift fund options from family.
Find out what you actually qualify for
Reach out and I'll connect you with a lender who specializes in DPA programs for Centreville buyers.
For more Centreville buyer and seller questions, visit our Centreville real estate hub.