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vhda: Hey, Virginia! Free Money From VHDA for Your Down Payment!
- 03/20/15 12:05 AM
Virginia Housing Development Authority (VHDA) has just announced a new down payment assistance grant for borrowers who qualify. You are able to get 3% of the purchase price in FREE MONEY that does not have to be repaid.
The program began on March 12 and will continue through June 30, or, until the five million dollars in funds are allocated–whichever happens first.
Five million sounds like a lot of money, but let’s do the math. If the average purchase price is $180,000, that means the average grant will be $5,400. Using those figures, only 925 people in Virginia will be able to receive the funds.
Here’s an overview … (1 comments)
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vhda: VHDA: 100% Financing in Virginia
- 04/14/14 10:45 PM
If you live in Virginia, the Virginia Development Housing Authority (VHDA) has a program called an FHA Plus loan that will allow you to finance up to 101.5% of the purchase price of a home.
Here’s how it works: you get a 1st mortgage for 96.5% of the purchase price and then you get a second mortgage for either 3.5% (qualified borrowers with credit scores ranging from 620-679) or a second mortgage for 5% (qualified borrowers with credit scores above a 680). If you qualify for the second loan of 5%, that means the extra 1.5% leftover will be applied to your closing costs. … (0 comments)
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Virginia Housing Development Authority (VHDA) has just announced a new down payment assistance grant for borrowers who qualify. You are able to get 3% of the purchase price in FREE MONEY that does not have to be repaid.
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