We’re excited to introduce the new VHDA Plus Second Mortgage program designed to help qualified first-time homebuyers with their down payment and closing costs. It is offered with our FHA and Fannie Mae loan programs. This program is expected to be well received by Virginians, with the intention of having a positive impact on the underserved areas of the state.

The VHDA Plus Second Mortgage program is a 30-year fixed rate loan that allows a buyer to finance 100% of the required 3-3.5% down payment. Also, eligible buyers with credit scores of 680 and higher can finance a portion of their closing costs into the second mortgage.

Borrowers who qualify for this program are also eligible for a VHDA Mortgage Credit Certificate (or MCC) which is a dollar-for-dollar credit against your federal tax liability.

For more details about the VHDA Plus Second Mortgage program, please visit vhda.com/HomebuyerPrograms.