Virginia Housing DPA Second Plus
Making homeownership more affordable—ZERO down with Second Plus.ZERO down with Second Plus.
Step into homeownership with zero down payment through the Virginia DPA Second Plus program. This unique option allows eligible buyers to cover their entire down payment with a second mortgage, making it possible to purchase a home with limited upfront savings.
The DPA Second Plus offers affordable loan features.
This product includes many features that are aimed to save you money on both upfront costs and your monthly payment. This product is also more widely available than the Virginia Housing DPA Grant, which has stricter eligibility requirements.
No money down
You will not need to make a down payment with the Virginia Housing Second Plus loan. Your down payment can be entirely sourced from a second loan ("piggyback loan") that is repaid over 30 years. You’ll make a monthly payment on the second mortgage along with your first mortgage.
Finance additional loan costs
The Second Plus product can be used to finance more than just your down payment! Qualified borrowers may finance additional loan costs (up to 1.5%) such as discount points, escrow deposits, and more!
Pay less in private mortgage insurance (PMI)
Conventional mortgages require PMI when you buy a house with less than a 20% down payment, which increases your monthly loan payment. The Second Plus product offers specialized coverage that is substantially cheaper than traditional PMI coverage on Conventional loans.
Available for repeat homebuyers
The Second Plus product is available to eligible repeat homebuyers, unlike the Virginia Housing DPA Grant. This product also has expanded income limits which exceed those set for the DPA Grant.
Free home buying class
You will be required to take a free homebuyer education course, with topics including personal finances, credit, budgeting, and the homebuying process. Classes may be attended virtually or in-person and are available in English and Spanish.
How the DPA Second Plus loan works.
The DPA Second Plus is a second mortgage that covers your down payment. This loan is paired with your primary mortgage, and you will make two loan payments once you close on your home.
- Apply online to check eligibilitySubmit an online application, and an expert Loan Consultant will assess your eligibility for the DPA program. Our team can issue most pre-approvals same day.
- Determine how DPA funds will be usedCapCenter will consult you on how much money you may receive to cover your down payment or other loan costs.
- Close and repay two loansYou will close on two separate loans at the same time: your first mortgage + a DPA second mortgage. You’ll make a monthly payment on the second mortgage along with your first mortgage. There’s no prepayment penalty if you decide to pay it off early.
Get notified when rates drop!
Receive weekly rate updates and get special notifications when rates fall.
Who is eligible for the DPA program?
Your loan officer will confirm eligibility, calculate the second‑mortgage amount, and determine whether closing cost financing is available based on your credit profile.
Reserved for Virginia residents
This product is only available to those buying a home in the state of Virginia.
Asset reserves are required
This DPA program covers your down payment, but you must have at least 1% in liquid assets to qualify for this loan. Gifts are allowed.
Income limits apply
You must meet Virginia Housing maximum income and sales price limits.
How it compares: DPA Grant vs. DPA Second Plus
Choosing between the Virginia Housing DPA Grant and the DPA Second Plus can feel tricky, since both help cover upfront homebuying costs in different ways. This quick comparison highlights the key differences — from repayment requirements to eligibility — so you can see which option may be the best fit for your situation.
| Feature | DPA Grant | DPA Second Plus |
|---|---|---|
| Repayment | No | Yes |
| Assistance type | Down payment | Down payment + loan costs |
| Down payment | 1% down | 0% down |
| Income limits | More restrictive | Less restrictive |
| Available geographies | Virginia | Virginia |
| Best for | First-time homebuyers | First-time & repeat homebuyers |
DPA Grant
- Repayment
- No
- Assistance type
- Down payment
- Down payment
- 1% down
- Income limits
- More restrictive
- Available geographies
- Virginia
- Best for
- First-time homebuyers
DPA Second Plus
- Repayment
- Yes
- Assistance type
- Down payment + loan costs
- Down payment
- 0% down
- Income limits
- Less restrictive
- Available geographies
- Virginia
- Best for
- First-time & repeat homebuyers
Frequently asked questions
regarding down payment assistance.
No. It’s a repayable second mortgage with a fixed interest rate and a 30‑year term. There’s no prepayment penalty if you pay it off early (e.g., when you sell or refinance).
The amount depends on your credit score and first‑mortgage type. The maximum is typically up to 5% of the purchase price to cover the required down payment. If your score is 680+, you may qualify to borrow up to 1.5% above the purchase price to help with closing costs.
You must document at least 1% of the sales price for prepaids/closing or reserves. Final cash to close depends on your loan terms, seller credits, taxes/insurance, and any stacked assistance.
The household income limit for this program depends on your Virginia region. Virginia Housing maintains an updated record of income limits on their website. Not sure if you meet the income limits? Give us a call or apply online, and one of our expert loan consultants will advise you on eligibility.
More questions? See our Loan programs & down payment FAQ.
Apply for down paymentassistance today!
Affordable homeownership is possible with Virginia Housing and CapCenter programs — apply today to get started.
Restrictions apply. See CapCenter.com for details. Offer details