Virginia Individual Development Accounts (VIDA) Matched Savings for a Home

At a glance

Amount

$10 of match for every $1 you save, up to $10,000 in match on $1,000 of your own savings

Type of help

Grant

Where

Statewide, Virginia

Run by

Virginia Department of Housing and Community Development (DHCD), funded by Virginia Housing, through local intermediaries

First-time buyer

First-time buyers only

Income limit

Yes, see below

Price limit

Yes, see below

Minimum credit score

580

Homebuyer education

Required

How the grant works

Money you do not pay back, as long as you meet the program's stay-in-the-home terms.

• Monthly payment: None

Who qualifies

• First-time buyers only. First-time means you have not purchased or owned a home in the last 3 consecutive years. The home must be in Virginia.
• Income. Household income must be within DHCD's VIDA income guidelines, which vary by HUD area and household size (the posted table is labeled FY2025). Household net worth must also be under $10,000 at the end of the prior calendar year. Everyone living in the home counts toward income and net worth.
• Price. Total acquisition cost cannot exceed 120% of the average area purchase price for the area, a federal IDA rule your intermediary checks.
• You must be 18 or older, a U.S. citizen or legal resident, a Virginia resident, and have earned income from a job or self-employment. Only earned income can be deposited.
• Credit score of at least 580 at enrollment, and a meeting with a housing counselor before enrolling to build a savings plan and check mortgage readiness.
• At least 6 hours of homebuyer education from a HUD-approved counseling agency (Virginia Housing's class is commonly used). Financial education and monthly check-ins with the intermediary are part of the program.
• Match is released only after at least 4 months of saving, only at closing, and only for qualified acquisition costs: down payment, closing costs, settlement charges, title, appraisal, and inspection fees paid at closing. Earnest money, furniture, repairs, and monthly payments do not qualify.
• One saver per household. The match can be combined with DHCD's HOMEownership DPA, Virginia Housing grants, and lender or employer programs.

How to apply

1. 1Check the VIDA intermediary list for an organization serving your locality. As of the April 2024 list no intermediary is based in Northern Virginia; Piedmont Housing Alliance notes it accepts virtual applicants and Habitat for Humanity Virginia is listed without a service area, so start with those two and ask DHCD at vida@dhcd.virginia.gov about coverage.
2. 2Meet with the intermediary's housing counselor. They verify your income, net worth, earned income, and credit, and build a savings plan with a target date 4 to 24 months out.
3. 3Once DHCD approves the account, open the VIDA custodial savings account and set up deposits from your paycheck. Save at least $1,000 to earn the full $10,000 match.
4. 4Complete the financial education and the 6-hour homebuyer education course while you save.
5. 5When you are ready to buy, work with your lender and intermediary so the match is requested for closing. The funds go straight to the settlement agent.

Watch out for

• This is a runway program. If you want to buy in the next 60 days, VIDA cannot help; the minimum saving period is 4 months and most savers take a year or more.
• Enrollment depends on funding and on having an intermediary that serves your area. Northern Virginia coverage is thin on the posted list, so confirm before you plan around it.
• Withdrawing your own savings for an emergency is allowed, but it slows or reduces the match. The match itself is held by DHCD, not in your account.
• Both the net worth test (under $10,000) and the income guidelines are strict. A retirement account or car equity can count toward net worth depending on the rules, so let the intermediary run the numbers.

Straight answers

Sources

• DHCD Virginia Individual Development Accounts (VIDA) page (read Sep 23, 2026)
• DHCD VIDA Program Manual (Revised June 2024) (read Sep 23, 2026)
• DHCD VIDA Intermediary Contact List (as of April 2024) (read Sep 23, 2026)
• DHCD VIDA Income Guidelines (FY2025) (read Sep 23, 2026)
• DHCD VIDA Homeownership Flyer (read Sep 23, 2026)

Program details are summarized from public sources and change without notice. Funding badges reflect the last time we checked, not a guarantee of availability. This is buyer education from a real estate agent, not a loan pre-approval or a commitment to lend. Eligibility is decided by each program administrator and your lender. Equal Housing Opportunity.