First Time Homebuyer Programs in Virginia

by: Iola Bonggay

In 1972, the Commonwealth of Virginia has constituted the establishment of the Virginia Housing Development Authority in an effort to respond to the needs of Virginians who seek quality, affordable housing.

Since it's establishment, the authority providing fixed, low-interest rate mortgages, primarily to first-time homebuyers and developers of quality rental housing.

In addition, the Virginia Housing Development Authority, more commonly referred to as VHDA, has also been assisting Virginians in ways other than the provision of mortgages. The authority has also been providing free homeownership classes and seminar sessions that help people with disabilities and the elderly make their homes more livable.

The VHDA is a self-supporting agency that does not use taxpayer funds to support their programs and initiatives. Instead, the VHDA raise money in the capital markets to fund their loans.

Among all of the first time homebuyer programs of the VHDA, the following are the most notable:

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First Time Homebuyer Programs in Virginia
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Construction Incentive Program for First Time Home Buyers in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.

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Alabama Housing Finance Authority
The Alabama Housing Finance Authority, more commonly referred to as AHFA, is a public corporation which was established in the year 1980 under the Act No. 80-585 of the Alabama Legislature.

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First Time Homebuyer Programs in California
The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

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First Time Homebuyer Programs in Georgia
In July 1996, the Governor and General Assembly made a vital decision to join together the Georgia Housing and Finance Authority (GHFA) with the Department of Community Affairs.

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