The Virginia Individual Development Accounts (VIDA) program helps qualified individuals save for a down payment on a home or for capital to start or expand a business. Eligible participants receive training, support and match funding on their savings. The current match rate is $8 for every $1 the participant saves, up to $4,000 in match.
Individuals interested in saving should contact a VIDA intermediary listed below. VIDA Intermediaries determine eligibility and work with enrolled savers to prepare them to achieve their business or homeownership goals. Enrollment in the program will depend on eligibility and availability of funding.
VIDA has often been used in conjunction with other DHCD programs including the Down Payment Assistance (DPA) program and the Neighborhood Stabilization Program (NSP) to help individuals and families achieve their dream of homeownership. VIDA also receives funding from the Virginia Housing Development Authority (VHDA), which offers home buyer lending programs.