Suffolk, VA - Virginia Housing and Community Development Corporation (VHCDC) is announcing the launch of the Virginia PILOT Down?Payment Assistance Program, a powerful new initiative designed to help first?time homebuyers earning at or below 60% of the Area Median Income (AMI) overcome one of the biggest barriers to homeownership: upfront costs. This program provides substantial down?payment and closing?cost support to eligible households, expanding access to safe, stable, and affordable homeownership across the region.

The Virginia PILOT Program is specifically structured to serve low?income individuals and families who have the capacity to sustain homeownership but lack the savings needed to enter the market. By reducing the financial burden at closing, the program helps buyers secure long?term housing stability and begin building generational wealth.

To ensure every participant receives the guidance and preparation needed for successful homeownership, enrollment in VHCDC’s Home Ownership Assistance Program (HOAP) is required. HOAP provides comprehensive pre?purchase education, HUD?certified counseling, credit and budget coaching, and personalized support throughout the homebuying process. This requirement ensures that every applicant is mortgage?ready, financially informed, and positioned for long?term success.

“Families earning 60% AMI or less are often the most locked out of homeownership, despite working hard and managing their finances responsibly,” said VHCDC leadership. “The Virginia PILOT Program changes that. By pairing financial assistance with the education and coaching provided through HOAP, we’re giving first?time buyers the tools and support they need to thrive.”

Eligible applicants must meet income guidelines, complete HOAP enrollment, and satisfy program documentation requirements. Funding is limited and available on a first?come, first?served basis.

For full eligibility details or to begin the HOAP enrollment process, visit www.vhcdc.org/own.