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…
Follow Virginia REALTORS® on Social Media & Stay Updated
By Stephanie Flynn - August 8, 2024
New to the Virginia REALTORS® social media pages? We have four reasons why you should give us a follow on Facebook, Instagram, and LinkedIn! Get the Latest Virginia Housing… Read More
Your Guide to the 2024 Sales Tax-Free Weekend
By Maura Pratt - July 31, 2024
This weekend is a Sales Tax Holiday and who doesn’t love saving money? From Friday, August 2nd to Sunday, August 4th, consumers across Virginia can purchase select items… Read More
Managing Your Business and Clients While on Vacation
By Sean Olk - June 5, 2024
Memorial Day has passed, the kids are out of school, and all the signs of summer are here. Traditionally, summer is a busy time in real estate, and… Read More