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Loudoun County Offers Downpayment/Closing Costs Assistance Program | Families

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Loudoun County Offers Downpayment/Closing Costs Assistance Program
Loudoun County Offers Downpayment/Closing Costs Assistance Program

Loudoun County offers financial assistance through the Downpayment/Closing Costs Assistance Program (DPCC) to first-time homebuyers. The program assists low-to moderate-income homebuyers purchase homes in the county.

Administered by the Loudoun County Department of Family Services, the program makes loans available to homebuyers with a total household income between $31,050 and $72,450. Applicants must currently live and/or work in the county for the most recent six (6) months. Standard eligibility requirements apply. Funds are limited and available on a first-come, first-served basis.

Highlights of the program include:

  • Loan amounts up to ten percent of the purchase price or $25,000, whichever is less
  • 30-year loan
  • Interest rate of five percent
  • Principal and interest payments deferred for the first three years
  • Monthly payments begin with the fourth year and are amortized over 27 years
  • No pre-payment penalty

For more information about the program and application procedure, contact Karen Thorson, Loan Specialist, at 571-258-3814 or karen.thorson@loudoun.gov.