What is the minimum down payment for a first-time buyer in the DC metro?

Minimum down payments in 2026: VA loans offer 0% down for eligible military and veterans. FHA loans require 3.5% down. Conventional loans for qualifying first-time buyers require 3-5% down. On a $450K home, that is $15,750 (3.5%) for FHA or $22,500 (5%) for conventional. Plan for additional closing costs of 2-5% of purchase price.

What down payment assistance programs are available in the DC metro?

Virginia offers up to 2.5% in grants and up to $10,000 in closing cost assistance through Virginia Housing. Maryland offers up to $15,000 through the Maryland Mortgage Program. DC offers one of the most generous programs in the country, up to $80,000 through HPAP for income-qualified DC buyers. Eligibility depends on income, price, and specific jurisdiction.

Should a first-time buyer choose FHA or conventional?

FHA if your credit score is below 680, or if you need the lowest possible down payment (3.5%) and cannot access VA loans. Conventional if your credit is above 700 and you can put 5%+ down, because conventional PMI drops off at 20% equity while FHA MIP typically runs the life of the loan. For credit scores above 740, conventional loans typically offer better total cost despite similar rates.

Where can a first-time buyer afford in the DC metro in 2026?

Under $400K: condos in Prince George's County, close-in Arlington, Silver Spring, or DC. $400K-$550K: townhomes in Alexandria, Reston, Herndon, Prince George's single-family, and Silver Spring. $550K-$700K: Fairfax County townhomes (Reston, Springfield, Burke), Alexandria townhomes, Montgomery County townhomes. DC proper's current buyer's market creates opportunities for first-time buyers at condo price points.

How long does it take to buy a first home in the DC metro?

Plan 60-120 days from starting your agent search to move-in. Pre-approval: 2-5 days. Finding the right home: 2-8 weeks. Under contract to close: 30-45 days for FHA and VA, 30-40 days for conventional. First-time buyers using DPA programs should add 5-10 days for the assistance processing.

First-Time Homebuyer Guide DC Metro 2026: Programs, Math, and the Neighborhoods That Work

Q: Is DC HPAP still available in 2026?

Yes, DC's Home Purchase Assistance Program (HPAP) continues to offer up to $80,000 in down payment and closing cost assistance for income-eligible first-time buyers purchasing primary residences in DC. Check the DC Department of Housing and Community Development for current income limits and application procedures.

You have been renting for six years. Your savings have reached something close to a down payment. Your friends are buying. Your parents keep asking when you will buy. You know the math generally favors buying. You do not know where to start.

Here is the first-time buyer version for the DC metro in 2026.

What this guide does

Lists every down payment assistance program available to first-time buyers in Virginia, Maryland, and DC.
Gives you the real math for what first-time buyer mortgage payments actually cost at 2026 rates.
Names the neighborhoods where first-time buyers are actually finding homes in the DMV.
Walks you through the VA, FHA, and conventional loan options for first-time buyers.

Live market snapshot

Arlington Market Snapshot

Updated Apr 27

$740K

Median Price

-1.3% YoY

Avg Days on Market

3,961

Sales (12 mo)

99.4%

Sold-to-List

Estimated Payment at 6.32%

$3,672/mo

20% down on a $740K home

Data from verified transaction records and public sources

Prince George's County Market Snapshot

Updated Apr 27

$477K

Median Price

Avg Days on Market

Estimated Payment at 6.32%

$2,364/mo

20% down on a $477K home

Data from verified transaction records and public sources

As of April 6, 2026:

Arlington: $437,500 median (with meaningful condo inventory below this)
Prince George's County: $476,500 median (more single-family options at lower prices)
DC proper: $900K median (buyer's market at 8.6 months supply)

Today's rates

What you actually need to buy

The down payment myth. You do not need 20% down. Most first-time buyers put 3-10% down.

VA loan: Zero down if eligible (active military, veterans, surviving spouses). No PMI.
FHA loan: 3.5% down. PMI required.
Conventional loan: 3-5% down available for qualified first-time buyers. PMI required below 20%.

Closing costs. Plan for 2-5% of purchase price in closing costs on top of your down payment. Some seller concessions can cover part of this.

Emergency fund. Keep 3-6 months of expenses in reserve after closing. Not optional for a first-time buyer.

Credit score. Minimum 620 for most programs, 580 for FHA. Above 740 for best rates.

Down payment assistance programs by jurisdiction

Virginia programs

Virginia Housing Down Payment Assistance (DPA) Grant. Up to 2.5% of the sales price in grant (no repayment) or 2-5% in second-lien assistance. Income limits apply (varies by county; generally $100K-$130K for Northern Virginia for 2026).

Virginia Housing Closing Cost Assistance (CCA). Up to $10,000 in closing cost assistance for qualifying buyers.

Federal VA loan for eligible veterans and active military: zero down, no PMI.

USDA Rural Development loans for qualifying outer-county addresses (some Loudoun, Prince William, Stafford areas).

Maryland programs

Maryland Mortgage Program (MMP). Up to $15,000 in down payment and closing cost assistance for qualifying first-time buyers. Income and price limits apply.

Montgomery County Moderately Priced Dwelling Unit (MPDU) Program. Dedicated affordable units at below-market prices.

Prince George's County Pathway to Purchase. County-specific down payment assistance up to $15,000.

DC programs

DC Home Purchase Assistance Program (HPAP). Up to $80,000 in down payment and closing cost assistance for qualifying income-eligible buyers purchasing in DC. This is one of the most generous DPA programs in the country.

Employer-Assisted Housing Program (EAHP). DC government employees qualify for additional assistance layered on top of HPAP.

Open Doors Program. First mortgage product with reduced rate plus DPA for qualifying DC buyers.

The real math at $400K and $550K

$400,000 townhome or condo in Alexandria, Silver Spring, or PG County

3.5% FHA down: $14,000 down. Loan amount $386,000.

Monthly payment at 6.32%: $2,396 principal and interest. + Property tax: $333/month (at 1.0% effective rate) + PMI: ~$175/month + Homeowner's insurance: $70/month + HOA/condo fee: $200-400/month (varies significantly)

Total monthly cost: $3,174-$3,374

Rent for a comparable 2-bedroom in these areas runs $1,900-$2,500. Your monthly housing cost will be higher than your rent was. The ownership wins come through equity build and appreciation over time, not immediate monthly savings.

$550,000 townhome in Reston, Silver Spring, or Alexandria

5% conventional down: $27,500 down. Loan amount $522,500.

Monthly payment at 6.32%: $3,245 principal and interest. + Property tax: $460/month + PMI: ~$225/month + Insurance: $80/month + HOA: $250-400/month

Total monthly cost: $4,260-$4,410

Neighborhoods where first-time buyers actually find homes

Under $400K

Prince George's County: Hyattsville, College Park, Greenbelt, Landover condos and older townhomes.
Arlington (condos): Pentagon City, Crystal City, Ballston, Courthouse studio and 1-bedroom condos.
Silver Spring (condos): Downtown Silver Spring, Woodside condos.
DC (condos): Petworth, Brookland, Anacostia, Congress Heights. DC's current buyer's market favors first-time buyers here.

$400K-$550K

Alexandria: Townhomes and condos in the West End, Landmark, or close to Eisenhower.
Reston: Condos and some townhomes.
Herndon: Townhomes and older single-family.
Prince George's: Single-family in Bowie, Upper Marlboro, Clinton.
Silver Spring: Townhomes and older single-family.

$550K-$700K

Fairfax County: Townhomes in Reston, Herndon, Springfield, Burke.
Alexandria: Townhomes in Del Ray outskirts, Rosemont.
Arlington: 2-bedroom condos in Clarendon or Ballston.
Montgomery County: Townhomes in Rockville, Gaithersburg, Silver Spring.

VA vs FHA vs conventional: which fits

VA loan fits you if:

Active military, veteran, or surviving spouse.
Zero down preferred.
Purchase price fits VA's no-PMI structure.

FHA loan fits you if:

Credit score below 680.
Minimal down payment (3.5%) needed.
Price below FHA conforming limit ($1,089,300 in DC metro as of 2026).
Prepared to pay ongoing MIP for loan life (or until refinance).

Conventional loan fits you if:

Credit score above 700.
Down payment of 5-20% available.
Want PMI to drop off at 20% equity (unlike FHA MIP).
Higher price point in jumbo territory.

Get pre-approved first

Before you look at a single home, talk to a lender. Not to apply yet; just to confirm what you qualify for. This takes 48-72 hours.

Stephen Fox is one of our top verified DMV lenders and handles first-time buyers with VA, FHA, and conventional options across Virginia, Maryland, and DC. Browse other verified DMV lenders on smover to compare.

Find a first-time-buyer-specialist agent

Some agents specialize in first-time buyers. They know the assistance programs, the condo buildings that work with FHA and VA, and how to write an offer that competes in a multiple-offer situation at entry-level price points.

On smover, agents are searchable by city and price range. Browse verified DMV agents.

What to do this week

Get your credit pulled. Know your score. Pay down any high-balance credit cards if time allows.
Save your down payment + 4 months reserves. Do not stretch.
Get pre-approved with Stephen Fox or another verified DMV lender.
Research the DPA program for your target jurisdiction.
Interview 2-3 agents who work with first-time buyers regularly. Browse verified agents.

Frequently asked questions

Minimum down payment?

VA: 0%. FHA: 3.5%. Conventional: 3-5% for first-time buyers. Plus 2-5% closing costs.

DPA programs?

Virginia: up to 2.5% grants + $10K closing assistance. Maryland: up to $15K. DC HPAP: up to $80K.

Is DC HPAP still available in 2026?

Yes. Up to $80K for income-eligible DC buyers. Check DC DHCD for current limits.

FHA or conventional?

FHA for credit under 680 or lowest down payment. Conventional for credit 700+ with 5% down (PMI drops at 20% equity).

Where can a first-time buyer afford?

Under $400K: condos in PG County, Arlington, Silver Spring, DC. $400-$550K: townhomes in Alexandria, Reston, Herndon. $550-$700K: Fairfax County townhomes.

How long to buy a first home?

60-120 days total. Pre-approval 2-5 days. Search 2-8 weeks. Close 30-45 days.

Market data updates weekly from Redfin county data, FRED, and Mortgage News Daily. Last data refresh: April 6, 2026 (county metrics) and April 17, 2026 (mortgage rates).