Big Savings with the VHDA Loan Combo

Big Savings with the VHDA Loan Combo

Virginia Housing Development Authority (VHDA) offers a variety of affordable home mortgages to Virginians who otherwise might not be able to afford quality housing.  Add available special features, such as the Down Payment Assistance Grant and Mortgage Credit Certificate with a VHDA Loan Combo and increase money-saving benefits.

What does the VHDA Loan Combo consist of?

VHDA Mortgage

Plus Free Homebuyer Class

Plus Down Payment Money

Plus MCC Homebuyer Tax Credit

Resulting in Big Savings!

Start with a VHDA Mortgage:

  • Conventional Fannie HFA Preferred™ with Reduced Mortgage Insurance
  • Conventional Fannie 97 with No Mortgage Insurance
  • FHA
  • VA (Veterans Administration)
  • USDA (Rural Housing Service)

Then see what benefits apply:

Down Payment Assistance Grant (DPA)- Contributes to the down payment for eligible first-time homebuyers.  No repayment is required.

Mortgage Credit Certificate (MCC)- A federal tax credit that reduces the amount of federal income tax owed.  Eligible first-time homebuyers can potentially save money on their taxes every year that they live in their home.  This is a dollar-for-dollar credit against federal income tax liability.

Free Homebuyer Class- This class offers in-depth information on navigating the mortgage process and how to achieve your financial and homeownership goals.

Want to see if you qualify? Contact a First Home Loan Officer. 

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