A loan, grant and down-payment assistance program can have different obligations. Start with official program information and a lender or housing counselor who can explain how the options fit your circumstances.
Begin with education
Virginia Housing offers homebuyer education and information about loans and assistance. Use those resources to understand the purchase process before selecting a product. Keep the purchase budget, closing costs and ongoing ownership costs in the same discussion.
Ask what the assistance actually is
Request the written terms: eligibility, location limits, income or purchase-price rules, repayment, occupancy requirements and what happens when you refinance, sell or move. Ask whether a quoted amount depends on another loan or a limited funding allocation.
Compare the full financing package
Look beyond the headline assistance amount. Compare interest rate, fees, mortgage insurance, monthly payment, cash required and repayment conditions. Ask the lender to explain the tradeoffs using the same purchase scenario for each option.
Confirm availability before relying on it
Check the current application route, participating lender and required education with the official program. Keep eligibility screening separate from a commitment to provide funds. Do not plan a closing around an unconfirmed award or assume a past program remains open.