Listed as open as of October 2, 2026: the Virginia Housing DPA Grant, Closing Cost Assistance Grant and Plus Second Mortgage. Paused or closed: SPARC rate reductions (expected to reopen in January 2027) and FirstHome Dream. Confirm current status with a Virginia Housing-approved lender. Checked October 2, 2026.
How Plus Second Mortgage works
The Plus Second Mortgage is a loan, not a grant. It is a 30-year fixed, fully amortizing second mortgage that you repay.
The first mortgage must be a Virginia Housing Conventional, Conventional Bond, FHA or FHA Bond loan. Virginia Housing sets the percentage tiers: 3.5% with FHA or FHA Bond (minimum 620 score) or 3% with Conventional or Conventional Bond (minimum 640).
If all borrowers score 680 or higher, the tiers are 5% with FHA or 4.5% with Conventional, and the extra 1.5% is meant for closing costs. Your lender confirms the exact dollar amount. There is no maximum dollar amount.
Using the Plus Second adds 0.25% (FHA) or 0.125% (Conventional) to the first-mortgage rate. It is for purchases only, by first-time and repeat buyers, and income and price limits follow the first mortgage.
Key benefits
Open to repeat buyers
First-time and repeat buyers can use it for a purchase.
No maximum dollar amount
The amount follows the percentage tier; your lender confirms the exact figure.
Higher tier at 680+
If all borrowers score 680 or higher, the tier rises to 5% (FHA) or 4.5% (Conventional), with the extra 1.5% meant for closing costs.
Fixed 30-year term
A fixed, fully amortizing second mortgage, so the repayment schedule is set.
The steps
Choose a Virginia Housing-approved lender
The first mortgage must be a Virginia Housing Conventional, Conventional Bond, FHA or FHA Bond loan.
Check your score tier
Minimum 620 for FHA or FHA Bond, 640 for Conventional or Conventional Bond, and the higher tier if all borrowers score 680 or more.
Confirm income and price limits
These follow the first mortgage you choose.
Get your exact amount from your lender
Your lender confirms the dollar amount and the added first-mortgage rate.
Watch out for
Treating it like a grant
The Plus Second is a loan you repay over 30 years.
Forgetting the rate add-on
Using it adds 0.25% (FHA) or 0.125% (Conventional) to the first-mortgage rate.
Pairing it with an ineligible loan
It is not available with VA, VA Bond, RD/USDA, non-Virginia Housing loans or refinances, and cannot be combined with the DPA Grant or CCA Grant.
Frequently asked questions
Do I have to repay the Plus Second Mortgage?
Yes. It is a 30-year fixed, fully amortizing second mortgage loan that you repay.
Can repeat buyers use it?
Yes. It is open to first-time and repeat buyers, for purchases only.
How much can I get?
Virginia Housing sets percentage tiers: 3.5% with FHA or FHA Bond, or 3% with Conventional or Conventional Bond. If all borrowers score 680 or higher, it is 5% (FHA) or 4.5% (Conventional). There is no maximum dollar amount, and your lender confirms the exact figure.
Can I combine it with the DPA Grant?
No. The Plus Second cannot be combined with the DPA Grant or the Closing Cost Assistance Grant.
See if the Plus Second fits you
Answer a few quick questions to see which Virginia programs you may qualify for.
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: Virginia Housing (virginiahousing.com). Checked 2026-10-02.