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

Government Grants within the United States Housing Sector
The government has established quite a slew of agencies that are specifically designed to administer housing programs and assist the needs of homebuyers, renters, and property developers.

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Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

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Affordable Housing Partnership Program for the First Time Home Buyers in California
The Affordable Housing Partnership Program is a housing opportunity that enables first time home buyers in the State of California to seek financial assistance from lending institutions that have formed a partnership with CalHFA for the purposes of this endeavor.

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Downpayment Assistance Program for the First Time Home Buyers in North Carolina
In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.

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