Everyone told you it's impossible to buy your first home in the DMV. That you'd need $300K in household income and a small inheritance to compete. That the market's a nightmare and you should just keep renting.
Some of that's true. A lot of it isn't. Northern Virginia specifically has some of the best first-time buyer assistance programs in the country — and most first-timers I work with have no idea they qualify. Let's fix that.
The real numbers to know.
Here's what buying your first home in the DMV actually looks like in 2026:
Median prices: Virginia statewide median is around $462K. Fairfax County approaches $1M. Alexandria and Arlington are in the $600K–$900K range depending on property type. DC's median is over $700K. Maryland's Montgomery County is around $650K.
Down payment reality: The classic "20% down" thing is a myth for first-timers. You can absolutely buy with 3% down on a conventional loan, 3.5% on FHA, and sometimes as little as 1% or even 0% with the right program.
Credit score minimum: Generally 620 for conventional, 580 for FHA. If you're at 740+, you unlock the best rates. Below 620, we work on the score before we shop.
Closing costs: Typically 2–5% of the loan amount. On a $500K home, that's $10K–$25K. There are programs to help with this too (below).
"The 'you need 20% down' story has kept more first-time buyers out of homeownership than any other single myth."
Virginia's assistance programs.
This is where Virginia genuinely shines. Virginia Housing (the state housing agency) offers a stack of programs that most people don't know about:
Virginia Housing DPA Grant
A true grant — not a loan, no repayment required. Applied at closing. You must be a first-time buyer (or buying in an Area of Economic Opportunity), use a Virginia Housing mortgage, and meet income limits (which are generous — typically $90K–$174K depending on household size and area).
Virginia Housing Plus Second Mortgage
Layered on top of your first mortgage as a second loan. Deferred payments — you don't pay it back until you sell, refinance, or pay off the home. Effectively lets you get into a home with 0% down. Requires a 680+ credit score for the full amount.
Virginia Housing Mortgage Credit Certificate
Reduces your federal income tax bill every year for the life of the mortgage. Not a deduction — an actual credit. This is money in your pocket every April.
Local county programs
Loudoun County's Down Payment/Closing Cost Assistance Program: up to 10% of purchase price or $70K (whichever is less) as a forgivable loan, forgiven over 15 years. Arlington's MIPAP: 0% interest deferred loan up to 25% of purchase price, cap of $112,500. Prince William: deferred second mortgage covering 23–33% of home price. Each program has income limits and residency requirements — but if you qualify, they're transformative.
Maryland and DC programs.
Both jurisdictions have first-time buyer programs too, though they're structured differently. Maryland's Mortgage Program (MMP) offers below-market interest rates and down payment assistance of up to $20,000 depending on the program. DC's Home Purchase Assistance Program (HPAP) provides interest-free deferred loans up to $84,000 for down payment plus additional closing cost assistance.
These programs shift regularly — funding, income limits, and eligibility rules change annually. If you're seriously buying, work with an agent and lender who track current offerings and know which ones actually make sense for your situation.
The real steps.
Here's how the process actually goes, in order:
1. Get your credit score. Free at annualcreditreport.com. If you're under 700, take a few months to pay down credit cards and let scores climb before applying.
2. Talk to two lenders. Not one. Get pre-approvals from both and compare rates, fees, and how they explain your options. Ask about first-time buyer programs specifically — many lenders won't mention them unless asked.
3. Take the homebuyer education course. Most first-time buyer programs require you to complete an approved homebuyer education class. It's typically 8 hours, often online, and unlocks eligibility for the grants above. Virginia Housing runs one for free.
4. Get pre-approved, then get an agent. Once you know what you can afford, then find an agent who specializes in your price range and target neighborhoods. In Virginia, buyer's agreements are required in writing before your first showing. Ask questions before signing — how they're compensated, whether it's exclusive, and how you can exit if it's not a fit.
5. Shop, offer, negotiate. Your agent should be teaching you what makes a competitive offer in your specific market — sometimes it's escalation clauses, sometimes it's inspection waivers (please don't waive inspections on your first home), sometimes it's just clean terms and good rapport.
6. Inspect, close, move in. Inspection is not the moment to save money. Get a thorough one. Address anything major before closing. Then celebrate — you did it.
What I tell first-time buyers.
Two things:
First — the "perfect first home" doesn't exist. Your first home is a starting point, not a forever home. It gets you into ownership, starts building equity, and gives you options in 5–7 years. Buyers who wait for perfect never buy.
Second — ask about the programs. If your agent or lender doesn't proactively bring up Virginia Housing grants, Loudoun's assistance program, or DC's HPAP, ask directly. The money is real, it's specifically designed for you, and using it doesn't cost you anything except the effort to apply. The buyers who ask, get the grants. The ones who don't, don't.
First-time buyer? Let's talk.
I love working with first-time buyers — it's honestly the most rewarding part of what I do. Let me walk you through what your options look like based on where you actually want to live.