Virginia Housing Expands Income Limits for Home Buying Assistance

Virginia Housing has increased the income limits for its loan and grant programs, expanding who is eligible to receive first-time home buying assistance. The income limit increases vary depending on household size and where the home is located. For instance, a family of three or more in Alexandria making less than $200,000 would qualify for Virginia Housing’s standard bond loan, while the income limit to qualify as a household of the same size in Charlottesville is $121,000. According to Mike Urban, Virginia Housing’s Director of Homeownership, these income limit increases are partially a response to market conditions. Since 2018, home prices have increased by about 36% across the state. Read Virginia Housing’s new income limits here.

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