Who is qualified to apply for the program?
  • Buyers who are able to contribute at least $1,000 of their own funds towards down payment / closing costs
  • Buyers who demonstrate a need for funding (i.e., limited liquid assets / savings)
  • Buyers who have lived or worked in Loudoun County for at least the last 6 months (exceptions for military returning from active duty assignments)
  • Debt-To-Income Ratio of 32 / 42 (Buyers with ratios up to a max of 33 / 44 will be considered as long as there are three compensating factors)...ratios greater than 33 / 44 are ineligible for financing).
  • First-time homebuyers, or buyers who have had no ownership interest in any residential property within the last 3 years in or outside the United States (This includes undeveloped land and inherited real estate, whether or not they actually occupied the property as their primary residence)
  • Gross Annual Household Income between $36,400 - $84,950
  • Middle credit score of at least 620

Show All Answers

1. Who is qualified to apply for the program?
2. What are the terms of the loan?
3. The buyer is also participating in the Affordable Dwelling Unit (ADU) Purchase program. Can they use the DPCC program in conjunction with the purchase?
4. Are all first trust types eligible in the program?
5. How much cash does the borrower have to bring to closing?