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

Section 8 Housing Choice Voucher Homeownership Program
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.

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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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Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

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First Time Homebuyer Programs in Arkansas
The Arkansas Development Finance Authority was primarily created to develop safe, decent and affordable housing for low and moderate income Arkansans. The authority's primary goal is to administer funding in the form of tax exempt bonds and other debt instruments through several programs which are divided into three main categories: Economic Development, Homeownership, and Affordable Rental Housing.

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