Virginia has a high homeownership rate, with over 69% of residences occupied by owners. Virginia Housing provides various programs for first-time homebuyers, including conventional loan options, down payment assistance, and grants for closing costs. Programs like the Virginia Housing Plus Second Mortgage and the Granting Freedom program support specific needs, such as military veterans. National loan options like FHA, VA, and USDA loans are also available, often with lower interest rates. Prospective buyers should prepare their finances before applying.