How Prince William First-Time Homebuyer works
This is a loan: a deferred second deed of trust for 30 years with no monthly payments. At sale, transfer, rental, non-occupancy or cash-out refinance, the full loan plus Shared Market Appreciation is due.
The 2026 materials give no dollar cap. At or below 60% AMI, assistance is up to 33% of the approved price (up to 30% down payment plus up to 3% closing costs); above 60% through 80% AMI, it is up to 23% (up to 20% down payment plus up to 3% closing costs).
You must live or work in, and buy in, Prince William County, Manassas or Manassas Park. First-time means no ownership anywhere in 3 years. The 80% AMI limits effective 6/1/2026 are $74,800 for 1 person, $106,800 for 4 and $141,000 for 8; at 60% AMI they are $69,780 for 1 and $99,660 for 4.
All adults need a 640 middle score; credit history rules apply. Bring 1% of price plus 1 month of housing cost. Ratios are 32/37, then 32/40 at final. A maximum first mortgage is required.
Key benefits
No monthly second-loan payment
The 30-year second deed of trust is deferred, with no monthly payments.
Two income tiers
Up to 33% of approved price at or below 60% AMI, or up to 23% above 60% through 80% AMI, including up to 3% closing costs.
No stated dollar cap
The 2026 materials express the loan as a percent of the approved price without a dollar cap.
The steps
Attend an information session
Attend before entering any contract; applications are accepted during open periods, subject to funding.
Complete three certificates
Obtain the three Virginia Cooperative Extension certificates.
Confirm your first mortgage
Use a Virginia Housing fixed-rate conventional or buydown first mortgage from an approved lender; a maximum first mortgage is required.
Review funds and credit
Bring 1% of the price plus 1 month of housing cost; all adults need a 640 middle score and must meet credit history rules.
Watch out for
Signing before the session
The information session must happen before any contract.
Assuming this is a grant
The loan plus Shared Market Appreciation is due on sale, transfer, rental, non-occupancy or cash-out refinance.
Using an ineligible mortgage
No adjustable-rate, balloon or interest-only first mortgage; the required first loan is Virginia Housing fixed-rate conventional or buydown from an approved lender.
Frequently asked questions
Is the Prince William assistance a grant?
No. It is a deferred 30-year second deed of trust loan, due in full plus Shared Market Appreciation at sale, transfer, rental, non-occupancy or cash-out refinance.
How much assistance is offered?
Up to 33% of approved price at or below 60% AMI, or up to 23% above 60% through 80% AMI. The 2026 materials do not state a dollar cap.
Where do I need to live or work?
You must live or work in, and buy in, Prince William County, Manassas or Manassas Park.
Can I use an FHA first mortgage?
The listed first mortgage is a Virginia Housing fixed-rate conventional or buydown loan from an approved lender; no ARM, balloon or interest-only loan.
See which programs may fit
Check your options, then confirm the current open period and terms with the program.
Check If You May Qualify
Find Programs I May Qualify ForProgram details change frequently — verify current guidelines with a licensed lender; this is not a commitment to lend or a guarantee of eligibility.
Last updated: October 2026. Licensed in VA, MD and DC. Not affiliated with Virginia Housing, the Virginia Department of Housing and Community Development, or any county or city housing office.
Related programs
Source: Prince William County (pwcva.gov). Checked 2026-10-02.