Virginia First Time Home-Buyer’s Programs

Individual Development Accounts:

Borrowers in Virginia looking to purchase a home for the first time have options available to them.  If you qualify for the VIDA Program, which stands for Virginia Individual Development Account, you can receive funds matching up to $4000 into a bank account.  For every $1.00 you deposit, you would receive a match of $2.00. This program is often used in conjunction with the Neighborhood Stabilization Program (NSP), or the Virginia Enterprise Initiative (VEI).  There are strict income guidelines involved with utilizing this program. For example, a family of 3 cannot make more than $40,180 annually. For more information on VIDA, click here: