Saving a traditional 20% down payment on a Louisa County home can feel impossible — especially when home prices in the Lake Anna corridor (zip code 23117) and along Route 33 near Zion Crossroads have climbed steadily through 2024 and into 2025. But here’s what many buyers don’t realize: you likely don’t need 20% down, and you may not need much of anything at all.
Between zero-down loan programs, Virginia-specific assistance grants, and broker-accessed wholesale options that single-shelf lenders simply can’t offer, there are more paths to homeownership than most buyers know exist. This list covers nine real, actionable down payment solutions, from USDA zero-down loans to FHA gift funds, ranked by how accessible they are to Louisa County buyers right now. It applies equally to first-time buyers in Mineral and move-up buyers eyeing a second home or waterfront property on Lake Anna.
If you’ve been told you can’t afford to buy, read this first. And if you want to check your eligibility without a hard credit pull, Duane Buziak at Louisa Mortgage offers a NoTouch pre-qualification that won’t affect your score. Call 540-870-5594 to get started.
Updated July 2025. Written by Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC NMLS #376205
A Worked Example: What Zero Down Actually Looks Like in Louisa County
Before diving into the programs, let’s put real numbers on the table. Take a $285,000 home in Louisa County — a reasonable figure for the county’s rural and semi-rural market. Here’s how three of these programs stack up on cash required at closing:
| Program | Down Payment | Down Payment Amount | Upfront Fees/MIP | Estimated Cash to Close (Excl. Concessions) |
|---|---|---|---|---|
| USDA Section 502 Guaranteed | 0% | $0 | 1% guarantee fee = $2,850 (financeable) | $0 down + closing costs only (~$4,000–$7,000) |
| VA Home Loan (first use) | 0% | $0 | 2.15% funding fee = $6,128 (financeable) | $0 down + closing costs only (~$4,000–$7,000) |
| FHA with 100% Gift Funds | 3.5% | $9,975 | 1.75% upfront MIP = $4,988 (financeable) | $0 personal cash if fully gifted + closing costs |
| Conventional 97 (Fannie Mae) | 3% | $8,550 | No upfront MIP | $8,550 + closing costs (~$4,000–$7,000) |
| Conventional 97 + Seller 3% Concession | 3% | $8,550 | No upfront MIP | $8,550 down; closing costs largely offset |
Note: Upfront guarantee fees and MIP premiums are typically rolled into the loan amount, not paid out of pocket. Closing cost estimates are illustrative — actual costs vary by transaction. Verify current USDA, VA, and FHA fee schedules at their respective program sites before closing. Home price used for illustration purposes; verify current Louisa County median with CAAR or Bright MLS data.
1. Louisa Mortgage — Duane Buziak, NMLS #1110647
Best for: Louisa County buyers who want to compare every available down payment program without a hard credit pull.
Louisa Mortgage is an independent mortgage brokerage serving Louisa County, VA, operated by Duane Buziak, NMLS #1110647, with access to wholesale lenders across USDA, VA, FHA, and conventional down payment assistance programs.
Where This Tool Shines
Most buyers in Louisa County walk into a bank or call a direct lender and get quoted whatever product that institution happens to carry. An independent broker works differently: Duane shops across wholesale lenders to find the program that fits your situation, not the one that fits the lender’s inventory. That distinction matters most when you’re trying to layer programs, like a Virginia Housing grant on top of an FHA loan, or when you need USDA pricing that direct lenders simply can’t access at wholesale rates.
The other differentiator is the NoTouch Credit pre-qualification. Most lenders run a hard inquiry the moment you start a conversation, which can nick your score. Duane’s process uses a soft pull only, so you can explore your options across every available program before committing to anything.
Key Features
NoTouch Credit Pre-Qualification: Soft pull only, no hard inquiry, no impact to your credit score during the exploration phase.
Broker Independence: Shops across wholesale lenders rather than being locked to a single product shelf, which is how most banks and direct lenders operate.
USDA Rural Expertise: Most of Louisa County qualifies for USDA zero-down financing. Duane leads with this program where it fits, which most area competitors do not.
Dare to Compare: Bring any competing quote from NFM Lending, ALCOVA, Envoy, First Heritage, Atlantic Coast Mortgage, or any other lender for a side-by-side review.
Locally Focused: Serves Louisa, Mineral, Zion Crossroads, and the Lake Anna corridor specifically, not a regional call center that swapped in a county name.
Best For
Buyers in Louisa County who aren’t sure which program they qualify for, who want to compare options without credit consequences, or who have received a quote from another lender and want to verify they’re getting a competitive rate. Also ideal for buyers who may qualify for USDA but haven’t been told about it.
Pricing
No cost to pre-qualify. Broker fees are disclosed upfront. Call 540-870-5594 or start online at louisamortgage.com.
2. USDA Rural Development Section 502 Guaranteed Loan
Best for: Louisa County buyers purchasing in USDA-eligible areas who want zero down payment.
The USDA Section 502 Guaranteed Loan Program is a federal zero-down mortgage for buyers purchasing in eligible rural and suburban areas. Most of Louisa County qualifies, including zip codes serving Mineral, Louisa town, and rural Lake Anna parcels.
Where This Tool Shines
This is the strongest zero-down program available to non-veteran buyers in Louisa County, and it’s significantly underused because most lenders don’t lead with it. The program replaces private mortgage insurance with a lower annual guarantee fee, which often makes the monthly payment more competitive than an FHA loan with the same down payment scenario.
The key is eligibility: both the property and the borrower’s household income must qualify. Verify current property eligibility at the USDA eligibility map before assuming your target address qualifies. Income limits are based on household size and county median income, updated periodically by USDA.
Key Features
Zero Down Payment: No down payment required for eligible buyers in eligible areas.
No Monthly PMI: Replaced by an annual guarantee fee of 0.35% of the remaining balance, which is typically lower than conventional PMI for buyers with limited down payment.
Competitive Fixed Rates: Available through USDA-approved lenders, including independent brokers with wholesale access.
Income Limits Apply: Based on household size and county median income; verify current limits at rd.usda.gov.
Property Eligibility: Must be in a USDA-designated eligible area; confirm at the USDA eligibility map before proceeding.
Best For
Non-veteran buyers purchasing in rural Louisa County who meet income limits and want to avoid a down payment entirely. Particularly strong for buyers in Mineral, rural Louisa, and eligible Lake Anna parcels who haven’t been offered this program by a direct lender.
Pricing
No down payment. Upfront guarantee fee of 1% of the loan amount (financeable into the loan). Annual fee of 0.35% of the remaining balance. Verify current fee schedule at rd.usda.gov before closing.
3. VA Home Loan Guaranty Program
Best for: Eligible veterans, active-duty service members, National Guard members, and surviving spouses purchasing anywhere in Louisa County.
The VA Home Loan Guaranty Program is a zero-down mortgage benefit backed by the U.S. Department of Veterans Affairs, widely considered the strongest home loan benefit available to those who qualify.
Where This Tool Shines
VA loans have no down payment requirement, no private mortgage insurance, and consistently competitive interest rates. For eligible buyers, this is the first program to evaluate before anything else. The Central Virginia military community, including buyers connected to Fort Gregg-Adams and other installations, represents a real segment of Louisa County’s buyer pool.
The VA funding fee can be financed into the loan, so eligible buyers can often close with minimal out-of-pocket cash beyond closing costs. Disabled veterans may be exempt from the funding fee entirely — verify your eligibility status at VA.gov.
Key Features
Zero Down Payment: No down payment required for eligible borrowers, with no loan limit for full entitlement.
No PMI: VA loans do not require private mortgage insurance, which reduces the monthly payment compared to FHA or conventional loans at similar LTVs.
VA Funding Fee: Varies by service type, down payment amount, and whether it’s a first or subsequent use; can be financed into the loan amount.
Competitive Interest Rates: VA-backed loans often carry rates lower than conventional equivalents for the same borrower profile.
Certificate of Eligibility: Required to use the benefit; obtain through VA.gov or through your lender/broker.
Best For
Any eligible veteran or service member purchasing in Louisa County. If you qualify, this program should be your first call before evaluating FHA, USDA, or conventional options. The combination of zero down and no PMI is difficult to beat on monthly payment math.
Pricing
No down payment. VA funding fee: typically 2.15% for first use with 0% down for regular military; 3.3% for subsequent use. Rates vary by service category. Verify current funding fee schedule at VA.gov. Funding fee is financeable.
4. Virginia Housing Down Payment Assistance Grant
Best for: Virginia buyers who need help covering the down payment and don’t want to take on a second loan to do it.
Virginia Housing (formerly VHDA) administers a state-backed grant program that provides down payment assistance to eligible Virginia homebuyers. Unlike a second mortgage, this grant does not need to be repaid.
Where This Tool Shines
The word “grant” carries a lot of weight here. Most down payment assistance programs are structured as deferred second mortgages — you don’t pay them monthly, but you do pay them back when you sell or refinance. Virginia Housing’s grant program is a genuine grant: money that doesn’t come back. That distinction changes the long-term math of homeownership significantly.
The grant can be layered on top of FHA, VA, or conventional first mortgages, which means it works in combination with other programs on this list. Income and purchase price limits apply and are updated annually, so verify current limits directly at virginiahomes.com before planning around a specific amount.
Key Features
Grant Structure: Not a loan, not a second mortgage. No repayment required under any circumstance.
Stackable: Can be combined with FHA, VA, or conventional first mortgages for maximum benefit.
Income and Purchase Price Limits: Updated annually by Virginia Housing; check current limits at virginiahomes.com.
First-Time and Repeat Buyers: Available to both, depending on income bracket and program year.
Approved Lender Required: Must be accessed through a Virginia Housing-approved lender or broker.
Best For
Virginia buyers who fall within income limits and want to reduce or eliminate their out-of-pocket down payment without taking on additional debt. Particularly valuable when stacked with an FHA loan for buyers who don’t qualify for USDA or VA programs.
Pricing
Grant amount varies by program year and loan type. No repayment required. Income limits apply. Verify current grant amounts and eligibility at virginiahomes.com.
5. FHA Loan with 100% Gift Funds
Best for: Buyers with family support who want a low-down-payment loan with flexible credit requirements.
FHA-insured mortgages require only 3.5% down, and HUD guidelines explicitly allow the entire down payment to come from a documented gift. If a family member, employer, or approved charitable organization can provide that 3.5%, you need zero personal cash for the down payment itself.
Where This Tool Shines
The gift fund provision is one of the most underutilized features of the FHA program. Many buyers assume they need to have saved the down payment themselves, but HUD’s guidelines are clear: the full 3.5% can be gifted, provided it’s properly documented with a signed gift letter and paper trail showing the funds came from the donor’s own account. This isn’t a workaround — it’s written into the program guidelines.
FHA also carries more flexible credit score thresholds than conventional loans, making it accessible to buyers who are still building credit history. The tradeoff is mortgage insurance: FHA requires both an upfront premium and an annual premium that, depending on your loan term and LTV, may not cancel automatically.
Key Features
3.5% Down, 100% Giftable: The entire down payment can come from a documented gift with no personal cash required if properly structured.
Credit Score Flexibility: 580+ qualifies for 3.5% down; 500–579 requires 10% down.
Approved Gift Sources: Family members, employers, labor unions, and approved charitable organizations qualify; verify donor eligibility under HUD guidelines.
Upfront and Annual MIP: Upfront MIP of 1.75% of the loan amount (financeable); annual MIP varies by term and LTV — verify current schedule at HUD.gov.
Widely Available: Accessible through FHA-approved lenders, including independent brokers with wholesale pricing.
Best For
Buyers who have family willing and able to provide a gift for the down payment, buyers with credit scores in the 580–639 range who don’t qualify for the best conventional rates, and buyers who want to layer a Virginia Housing grant on top of an FHA first mortgage.
Pricing
3.5% down (can be 100% gifted with documentation). Upfront MIP: 1.75% of loan amount, financeable. Annual MIP: varies by loan term and LTV ratio. Verify current FHA MIP schedule at HUD.gov.
6. Fannie Mae HomeReady and Conventional 97
Best for: Creditworthy buyers with limited down payment savings who want a conventional loan with cancelable mortgage insurance.
Fannie Mae’s HomeReady and Conventional 97 programs both offer 3% minimum down payments on conventional loans, with key advantages over FHA for buyers with stronger credit profiles.
Where This Tool Shines
The headline advantage over FHA is PMI cancelability. Once your equity reaches 20%, PMI on a conventional loan can be removed. FHA mortgage insurance, depending on when your loan originated and your LTV, may persist for the life of the loan. For buyers who plan to stay in their Louisa County home and build equity over time, this distinction can mean meaningful long-term savings.
HomeReady adds another useful feature: non-borrower household income can be considered for qualification purposes. If you’re purchasing with a family member who contributes to household expenses but isn’t on the loan, HomeReady’s guidelines may allow that income to factor into your qualifying ratio in certain circumstances.
Key Features
3% Minimum Down Payment: Lower than FHA’s 3.5% and structured as a conventional loan with no upfront mortgage insurance premium.
Cancelable PMI: Private mortgage insurance can be removed once equity reaches 20%, unlike FHA MIP which may not cancel automatically.
HomeReady Income Flexibility: Non-borrower household income may be considered for qualification; income limits apply based on area median income.
Gift and Grant Compatible: Down payment can come from gifts, grants, or down payment assistance programs.
Credit Score Requirement: Generally 620+ for conventional eligibility; better rates at higher scores.
Best For
Buyers with credit scores of 680 or above who want a conventional loan structure, plan to build equity over time, and want the ability to eventually cancel mortgage insurance. Also strong for buyers who can layer a down payment assistance grant on top of the 3% requirement.
Pricing
3% down. No upfront mortgage insurance premium. PMI cost varies by credit score and LTV; typically lower than FHA MIP for buyers with scores above 700. Verify current guidelines at fanniemae.com.
7. Freddie Mac Home Possible
Best for: Income-qualifying buyers who want a conventional 3% down alternative to FHA with flexible down payment sourcing.
Freddie Mac’s Home Possible program offers 3% down conventional financing with flexible income and down payment sourcing, designed as an alternative path for buyers who may not fit neatly into HomeReady’s parameters.
Where This Tool Shines
Home Possible is worth knowing about because it gives brokers and lenders another option to run alongside HomeReady when comparing qualification scenarios. The two programs have overlapping features but slightly different income limit structures and underwriting guidelines. Having access to both — which an independent broker can offer — means your loan officer can run your profile against both and identify which one produces the better outcome for your specific situation.
One notable feature is the allowance for sweat equity as a down payment source in certain scenarios, which can be relevant for buyers purchasing properties that need work. Down payment can also come from gifts, grants, employer assistance programs, or other DPA sources.
Key Features
3% Minimum Down Payment: Conventional structure with no upfront mortgage insurance premium.
Income Limits: Based on area median income (AMI); verify current limits for Louisa County at freddiemac.com.
Flexible Down Payment Sources: Gifts, grants, employer assistance, and down payment assistance programs all qualify.
Sweat Equity: Allowed as a down payment source in qualifying scenarios — relevant for buyers purchasing homes that need renovation.
Cancelable PMI: No lifetime mortgage insurance; PMI removes once equity reaches 20%.
Best For
Buyers who fall within income limits and want a conventional loan structure with maximum flexibility on down payment sourcing. Particularly useful when an independent broker can compare Home Possible and HomeReady side by side to find the better fit.
Pricing
3% down. PMI required until 20% equity; rate varies by credit score and LTV. No upfront mortgage insurance premium. Verify current program details at freddiemac.com.
8. Virginia DHCD Closing Cost Assistance Programs
Best for: Buyers who have saved a down payment but are short on closing cost cash.
The Virginia Department of Housing and Community Development (DHCD) administers programs that specifically address closing costs for eligible buyers — a barrier that stops many buyers who have managed to save a down payment but can’t cover the additional thousands needed to close.
Where This Tool Shines
Most down payment assistance conversations focus on the down payment itself, but closing costs are often the more stubborn barrier. On a $285,000 purchase, closing costs can run $4,000 to $7,000 or more depending on loan type, title fees, and prepaid items. A buyer who has scraped together $8,550 for a 3% conventional down payment may still fall short at the closing table. DHCD programs address that specific gap.
These programs can be stacked with other assistance, which means a buyer could potentially combine a Virginia Housing down payment grant with DHCD closing cost assistance and a Fannie Mae conventional loan, dramatically reducing total out-of-pocket cash. Eligibility requirements and program availability change, so verify current offerings directly at dhcd.virginia.gov or through a Virginia Housing-approved lender.
Key Features
Closing Cost Focus: Addresses closing costs specifically, not just down payment, filling a gap that other programs leave open.
Stackable: Can be combined with other assistance programs including Virginia Housing grants and low-down-payment first mortgages.
Income and Eligibility Requirements: Apply; verify current thresholds at dhcd.virginia.gov.
Administered Through Approved Channels: Accessed through approved lenders and housing counseling agencies, not directly.
Particularly Useful: For buyers who have a down payment saved but are short on the cash needed to cover title, escrow, and prepaid items at closing.
Best For
Buyers who are close to qualifying and have a down payment ready but need help bridging the closing cost gap. Also useful as a stacking tool for buyers combining multiple assistance programs.
Pricing
Assistance amounts and terms vary by program and program year. Check current availability at dhcd.virginia.gov or through a Virginia Housing-approved lender or broker.
9. Seller Concessions (Negotiated at Purchase)
Best for: Buyers who want to reduce cash at closing through contract negotiation rather than a formal assistance program.
Seller concessions aren’t a loan program. They’re a negotiating strategy where the seller agrees to cover a portion of the buyer’s closing costs at settlement, reducing the total cash the buyer needs to bring to the table.
Where This Tool Shines
This is the one solution on this list that doesn’t require an application, income documentation, or program eligibility. It requires a skilled negotiation and a seller who is motivated enough to agree. In Louisa County, where some listings in the rural and lakefront markets sit longer than sellers expect, there is real negotiating room. A property that has been on the MLS for 60 or 90 days is a different conversation than a fresh listing in a competitive Zion Crossroads neighborhood.
The concession limits vary by loan type, and your lender needs to structure them correctly in the purchase contract. Getting this wrong can cause issues at underwriting. This is another area where broker experience matters: knowing the exact concession caps by program type and ensuring the contract is written to maximize the benefit without triggering compliance issues.
Key Features
FHA Concession Cap: Up to 6% of the purchase price toward closing costs.
VA Concession Rules: Seller can pay all of the buyer’s closing costs plus up to 4% in additional concessions toward other items.
Conventional Concession Limits: Range from 3% to 9% depending on LTV; verify current Fannie Mae and Freddie Mac guidelines.
USDA Concessions: Seller concessions are permitted; no specific cap beyond reasonable and customary limits.
Market Dependent: Most effective when a listing has been sitting on the market or in a buyer-favorable negotiating environment.
Best For
Any buyer using a program on this list, as a complement to rather than a replacement for formal assistance programs. Seller concessions can cover closing costs that assistance programs don’t reach, or reduce cash at closing for buyers using low-down-payment conventional loans. Works best when your broker knows the concession caps for your specific loan type and can advise on contract structure.
Pricing
No program cost. Concession amount is negotiated at contract and reduces the buyer’s cash at closing. Must be properly structured in the purchase agreement to comply with lender and agency guidelines.
Broker vs. Single-Shelf Lender: What It Means for Down Payment Access
| Factor | Duane Buziak / Louisa Mortgage (Independent Broker) | NFM Lending (Charlottesville/Orange) | Dudley Team / ALCOVA Mortgage (Orange) | Scott Morris Team / Envoy Mortgage | Whit Douglas / First Heritage Mortgage | Atlantic Coast Mortgage (Charlottesville) |
|---|---|---|---|---|---|---|
| Lender Type | Independent Broker — wholesale access | Direct Lender / Correspondent | Direct Lender / Correspondent | Direct Lender / Correspondent | Direct Lender / Correspondent | Direct Lender / Correspondent |
| USDA Program Access | Multiple wholesale USDA lenders; leads with USDA for Louisa County | Single shelf; USDA available but not a lead product for Louisa County | Single shelf; USDA availability varies | Single shelf; USDA not a stated focus for Louisa | Single shelf; USDA availability varies | Single shelf; USDA not a lead product for Louisa County |
| DPA/Grant Program Stacking | Can layer Virginia Housing grants, DHCD programs, and wholesale pricing | Limited to in-house DPA options | Limited to in-house DPA options | Limited to in-house DPA options | Limited to in-house DPA options | Limited to in-house DPA options |
| NoTouch Credit Pre-Qual | Yes — soft pull only, no hard inquiry | Typically requires hard inquiry to begin | Typically requires hard inquiry to begin | Typically requires hard inquiry to begin | Typically requires hard inquiry to begin | Typically requires hard inquiry to begin |
| Local Louisa County Focus | Locally focused; Lake Anna, Mineral, Zion Crossroads, Louisa town | Based in Charlottesville/Orange — regional coverage | Based in Orange — regional coverage | Regional coverage | Regional coverage | Based in Charlottesville — regional coverage |
| Dare to Compare | Yes — bring any competing quote for side-by-side review | Not a stated offer | Not a stated offer | Not a stated offer | Not a stated offer | Not a stated offer |
Note: Direct lender classifications are based on publicly available company information. Program availability for competitors is based on general industry knowledge and publicly stated offerings; individual loan officer capabilities may vary. This comparison is provided for informational purposes. Contact each lender directly to verify current program availability.
Frequently Asked Questions: Down Payment Solutions for Louisa County Buyers
Is most of Louisa County actually USDA-eligible? Yes. Most of Louisa County’s rural and suburban areas, including zip codes serving Mineral, Louisa town, and rural Lake Anna parcels, are designated as eligible under the USDA Section 502 Guaranteed Loan Program. Verify your specific property address at the USDA eligibility map before assuming eligibility, as boundaries can change.
Can I combine a Virginia Housing grant with a USDA loan? Virginia Housing’s Down Payment Assistance Grant is designed to layer on top of FHA, VA, or conventional first mortgages. USDA loans require zero down payment, so the grant structure is less commonly applied there. For USDA buyers, the primary benefit is the zero-down requirement itself. Consult with a Virginia Housing-approved lender to confirm current stacking options for your specific scenario.
What is the NoTouch Credit pre-qualification and why does it matter? The NoTouch pre-qualification uses a soft credit pull rather than a hard inquiry. Hard inquiries can temporarily lower your credit score by a few points and remain on your report for two years. A soft pull allows you to explore your program eligibility and get a realistic picture of what you qualify for without any impact to your score. Duane Buziak at Louisa Mortgage offers this at no cost. Call 540-870-5594 to start.
What is the Dare to Compare offer? If you’ve already received a quote from another lender, such as NFM Lending, ALCOVA, Envoy, First Heritage, or Atlantic Coast Mortgage, Duane will review it side by side with what he can access through wholesale channels. Because an independent broker shops across multiple wholesale lenders rather than a single product shelf, the comparison often reveals meaningful differences in rate, fees, or program fit.
Can a seller concession replace a down payment? No. Seller concessions apply to closing costs, not the down payment itself. They reduce the cash you need to bring to the closing table by having the seller cover some or all of your closing costs. You still need to meet the down payment requirement for your loan type, though that requirement can be zero for USDA and VA loans, or fully gifted for FHA.
What credit score do I need for a USDA loan in Louisa County? USDA does not publish a universal minimum credit score, but most USDA-approved lenders require at least a 640 score for streamlined processing. Scores below 640 may still be eligible but require manual underwriting. Verify current credit requirements with a USDA-approved lender or broker before applying.
Are there income limits for USDA loans in Louisa County? Yes. USDA income limits are based on household size and the county’s median income, and they apply to all household members, not just borrowers. Limits are updated periodically by USDA. Verify current income limits for Louisa County at rd.usda.gov or through a USDA-approved broker.
What’s the fastest way to find out which program I qualify for in Louisa County? The most direct path is a NoTouch pre-qualification with Duane Buziak at Louisa Mortgage. It uses a soft credit pull, costs nothing, and gives you a realistic picture of which programs, including USDA, VA, FHA with gift funds, and Virginia Housing grants, you actually qualify for before you start making offers. Call 540-870-5594 or visit louisamortgage.com to start.
Which Program Is Right for You
If you’re a Louisa County buyer who has been putting off homeownership because you can’t afford a big down payment, this list should reframe the conversation. Most of Louisa County is USDA-eligible, meaning zero down is a real option, not a stretch. Veterans have access to the strongest zero-down program in the market. And first-time buyers can stack Virginia Housing grants on top of FHA loans to dramatically reduce cash at closing.
Here’s a quick selection guide by situation:
Non-veteran buyers in rural Louisa County: Start with USDA Section 502. If you’re purchasing in Mineral, rural Louisa, or eligible Lake Anna parcels and your household income falls within the limits, this is the strongest zero-down option available to you.
Veterans and active-duty service members: VA Home Loan first, every time. Zero down, no PMI, and competitive rates. Nothing else on this list competes with it for eligible buyers.
Buyers with family support: FHA with 100% gift funds, potentially stacked with a Virginia Housing Down Payment Assistance Grant. You can get to the closing table with very little personal cash if the gift is properly documented.
Buyers with strong credit who want long-term savings: HomeReady or Home Possible at 3% down, with cancelable PMI, rather than FHA’s potentially permanent mortgage insurance.
Buyers who are close but short on closing costs: Layer seller concessions and DHCD closing cost assistance on top of whichever first mortgage program fits best.
The difference between knowing these options exist and actually qualifying for them often comes down to who you’re working with. A single-shelf lender, a bank or direct lender with one product line, can only offer what’s on their shelf. An independent broker like Duane Buziak at Louisa Mortgage shops across wholesale lenders to find the program that fits your situation, not the one that fits their inventory.
Ready to find out what you actually qualify for without a hard credit pull? Call 540-870-5594 or start your NoTouch pre-qualification today. Also worth reading: our full guide to USDA loan eligibility in Virginia and what affects your mortgage interest rate once you’re ready to lock.
Get pre-qualified today and discover which of these programs fits your Louisa County purchase.
About the Author
Duane Buziak, NMLS #1110647 is an independent mortgage broker and the owner of Louisa Mortgage, serving homebuyers across Louisa County, VA, including the Lake Anna corridor, Mineral, Zion Crossroads, and Louisa town center. Licensed in Virginia, Florida, Tennessee, Georgia, and Washington D.C., Duane operates through Coast2Coast Mortgage LLC (NMLS #376205) with access to wholesale lenders across USDA, VA, FHA, and conventional programs. He offers a NoTouch Credit pre-qualification — soft pull only, no hard inquiry — and a Dare to Compare review for buyers who have already received quotes from other lenders. Reach Duane directly at 540-870-5594 or visit louisamortgage.com.
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