CPHD
Opportunities for First Time Homebuyers
Virginia Housing Development Authority (VHDA) Low Interest Mortgage Program
VHDA provides below market mortgages to first time buyers throughout Virginia. The loan limit is $450,000.
Eligibility
Applicants must not have owned a home within the past 3 years and cannot exceed these income limits: $97,500 for a family of 1 or 2 and $112,950 for a family of 3 or more.
How to apply
Applicants will need a letter of eligibility from us as well as a certificate from a VHDA class on the basics of home ownership. When you complete an assessment form and send it in to us, we respond with a letter letting you know whether or not you are eligible for our programs. The assessment form and a calendar of classes can be found in our First-Time Home Buyers Packet (PDF Format). With the letter from us and the certificate from the class in hand, you can then approach any VHDA approved lender. The process is similar to applying for any regular mortgage loan.
For more information contact the Housing Information Center at 703-228-3765 or send an email.
