VHDA is Virginia's State Finance Company which more can be found here in my previous blog. With the Down Payment Assistance programs being eliminated here shortly, there are very few true 100% loan programs out there. There is hope though, VHDA has a loan program called FHA PLUS which is VHDA financed and FHA insured designed to help First Time Home-buyers gain home-ownership. Contact your local mortgage professional who is licensed for VHDA loans. (I am in the Virginia Beach Area and fully licensed) Here is a quick overview of the loan This is a piggyback Combo loan with … (9 comments)
What is VHDA? VHDA stands for Virginia Housing Development Authority. Its Virginia's Mortgage Finance Agency. Most every state has their own Finance Agency.
Mission? VHDA was created in 1972 by the General Assembly of Virginia to help overcome barriers to affordable housing. VHDA is not for everyone. The eligibility requirements does have a few restrictions not limited to the following: Household income of 65k and below for Virginia Beach County (Does vary for each county contact your mortgage expert) Underserved Minorities Disabilty and Ederly VHDA vs FHA ? The main difference is VHDA is more local driven … (7 comments)
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