Loudoun County offers two homeownership loan programs to assist buyers with down payments and closing costs when purchasing a home in the county.
Down Payment/Closing Costs Assistance Program
The Down Payment/Closing Costs Assistance Program offers eligible borrowers the opportunity to borrow up to $25,000 or 10 percent of the home sale price –¬ whichever is less – to be used for closing costs and/or down payment toward the purchase of a home. Key program features include:
Public Employee Homeownership Grant Program
The Public Employee Homeownership Grant Program offers employees of Loudoun County Government, Loudoun County Public Schools, and Courts and Constitutional Officers the opportunity to apply for a $10,000 forgivable loan to be used for closing costs and/or down payment toward the purchase of a home in Loudoun County. The program is open to employees who have not resided in Loudoun County for the past 12 months or are first-time homebuyers. Loans are 100 percent forgivable for program participants who maintain qualifying employment and live in the home as their primary residence for a period of five years. Key program features include:
Program Income Limits
Program applicants must have an annual gross household income of at least $35,150 and not more than $82,050 to participate in Loudoun County’s homebuyer assistance programs. Income limits do not adjust according to family size.
Program assistance is subject to availability and approval. For full program information and eligibility requirements, visit loudoun.gov/HomeLoanPrograms or contact Hannah Choi by email or 703-777-0353.
# # #