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Find Homeownership Incentives

Virginia - Veterans Administration

Veteran First Time Homebuyers Active Duty Financial Hardship Native American

Type Of Program

Home Purchase Mortgage

Program distribution

Forgivable Second Mortgage

Program Originator

Veterans Administration

Amount

$100.00

Contact

Blocks

Location
Nationwide
Description

*Purchase loan: To purchase a home with a 30 year fixed rate loan available to first time homebuyers at 100% financing

*Cash-out refinance:  To replace a current loan with one with better terms or to take equity out of a home or refinance a non-VA loan into a VA-backed loan

*Native American Direct Loan: To buy, build, or improve a home on federal trust land if you are a veteran, and either you or your spouse is Native American

*Interest rate reduction refinance: To reduce or make more stable your monthly mortgage payments



  • VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.
  • Eligible for Virginia Housing Closing Cost Assistance (CCA) grant
  • Eligible for Virginia Housing Mortgage Credit Certificate (MCC)


See https://www.vhda.com/BusinessPartners/Lenders/LoanInfoGuides/Loan%20Information%20and%20Guidelines/VAGuidelines.pdf and

https://www.benefits.va.gov/homeloans/

AMI Limit

No

AMI

Employer Participation Required

No

Must Earn Counseling Certificate

Yes

Eligibility Limitations

Length of service or service commitment, duty status, and character of service determine eligibility for specific home loan benefits

Cash Sale Permitted

No

Cosigner Permitted

No

Owner Financing Permitted

No

Must be Primary Residence

Yes

Program Provider's Contact Name

Program Provider's Address

601 S. Belvidere Street Richmond, VA 23220

Program Provider's Phone

8002278432

Program Provider's Email

Homeownership@vhda.com