First-Time Homebuyers Can Get Their Entire Down Payment Covered
November 1, 2018
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.
You might also like…
Top Paint Color Trends for 2025
By Stephanie Flynn - January 29, 2025
We know you’re busy helping your clients get their homes ready for the market. Check out the latest paint trends for this new year, how to make the… Read More
Heat Up Your Business with Virginia REALTORS® Member Benefits
By Stephanie Flynn - January 23, 2025
It may be a dark and frigid time of year, but don’t let that stop your business from moving right along! If the winter temperatures are keeping you… Read More
Winter Curb Appeal: From Frosty to Fabulous
By Stephanie Flynn - December 10, 2024
The market doesn’t stop for the weather! This winter season, your clients may be hosting everything from open houses to holiday gatherings. Provide them with some tips on… Read More