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
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.

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Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is an independent quasi-public housing agency operating within the State of Connecticut that was established in 1969 in an effort to lessen or alleviate the hurdles regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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First Time Homebuyer Programs in Georgia
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.

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Down Payment Assistance Loan for First Time Home Buyers in New York
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.

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