Down Payment Programs

Piedmont Housing Alliance administers funds that can be loaned for down payment and closing costs.  Most of the money we administer comes from outside sources and each source has its own unique set of guidelines for eligibility and terms.

You may qualify for our down payment loan program if your household income is below 80% of the Area Median Income.  Find out if you’re eligible by filling out our intake form and setting up an appointment with someone on the housing team.  Income limits change every year in March!

Virginia Individual Development Accounts (VIDA)

The VIDA program – or Virginia Individual Development Account program – is a matched savings program to help Virginians save for a down payment or closing cost for a home. The VIDA program will match every dollar you put in with $8, up to $4,000. If you save $500, VIDA will match that with $4,000 and you will have $4,500 to use for a down payment or closing costs for a home. Pair that with Piedmont Housing Alliance’s down payment loan assistance program and homeownership can be within your reach!

To learn more about the VIDA program and how you can participate in it, contact us at

Sponsoring Partnerships & Revitalizing Communities (SPARC)

The SPARC program provides customized loans for first-time homebuyers and allows us to reduce mortgage interest rates by 1% for eligible individuals. An interest rate reduction can save recipients thousands of dollars over their loan’s life. Lower interest rates also increase homebuyers’ purchasing power when considering options for a new home. 

Through the SPARC program, Virginia Housing allocated $18,000,000 to Piedmont Housing Alliance in order to create affordable housing opportunities throughout the counties of Albemarle, Greene, Fluvanna, Louisa, Nelson and the city of Charlottesville. 

Piedmont Housing Alliance combines SPARC with other local and state funding to maximize financial benefits for our clients.

View the SPARC program guidelines to learn more.