Summary answer: Yes — but with an important limitation for Reston specifically. Virginia Housing's Down Payment Assistance (DPA) Grant caps at $500,000 sales price, meaning it doesn't cover Reston's $600,000+ median. The Standard Bond option, with an $800,000 cap, is the more relevant program here, though it comes with less generous assistance and stricter income limits.
I'm Johnny with JQ Real Estate. Here's the honest picture of what actually applies in Reston.
The two main Virginia Housing options, and their fit for Reston
| Program | Assistance | Sales Price Cap | Fit for Reston |
|---|---|---|---|
| DPA Grant | 2.5% (FHA) or 2.0% (Conventional) of purchase price, no repayment | $500,000 | Only covers Reston condos/entry-level units below this threshold |
| Standard Bond | Below-market rate financing | $800,000 | Covers most Reston inventory, including single-family |
Why the $500K cap is a real limitation here
With Reston's median at $600,000+, the DPA Grant genuinely only applies to the more affordable segment of local inventory — condos near Town Center or smaller units, not the typical single-family Reston purchase.
Basic eligibility requirements
- First-time buyer status — no homeownership in the preceding three years (some exceptions apply)
- Minimum credit score of 620
- Household income under the applicable limit
What this means for your specific search
If you're targeting a Reston condo under $500,000, the DPA Grant is genuinely useful. For anything above that, the Standard Bond program or other financing strategies become more relevant.
Getting to know Reston
Reston is a planned community in Fairfax County founded in the 1960s, with lakes, pools, and miles of trails maintained by the Reston Association. Reston Town Center and Wiehle-Reston East stations on the Silver Line, plus the Dulles Toll Road, connect residents to Tysons and DC. When you compare homes here, look at how each one fits your daily routine: the drive or transit ride to work, the distance to shopping and parks, and the character of the surrounding streets. Those practical details often matter as much as the house itself.
Find out what you actually qualify for
Reach out and I'll connect you with a lender who specializes in these programs for Reston buyers.
For more Reston buyer and seller questions, visit our Reston real estate hub.