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Application for Qualification as a VHDA Originating Lender - Virginia

Application for Qualification as a VHDA Originating Lender - Virginia 2025

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The document is an application form for qualification as a VHDA (Virginia Housing Development Authority) originating lender. It requires detailed information about the applicant's organization, including legal name, contact details, organizational structure, branch offices, management experience, financial statements, and compliance with various housing finance regulations. The form also asks for information on past lending experience and any regulatory issues. The applicant must certify their understanding of VHDA's Fair Housing Policy upon submission.

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What is a VHDA mortgage loan?

Administered by the Virginia Housing Development Authority, VHDA loans are 30-year fixed rate loans designed to make home ownership more affordable for first-time buyers in Virginia. Youll benefit from a low interest rate and flexible underwriting guidelines.

What qualifies you as a first-time home buyer in Virginia?

The following requirements apply to applicant homebuyers who wish to participate in the First-Time Homebuyer Program: Must not have owned a home within the last three years. Households must have at least $25,000 in annual income and not more than the income limits outlined below based on the size of the household.

How much is the Virginia housing grant?

This DPA grant is a gift that provides potential homebuyers with 2 to 2.5 percent of the purchase price to help make their dreams of homeownership come true.

Who is eligible for the Virginia Housing grant?

To receive a Down Payment Assistance Grant, a homebuyer must: Be a qualified first-time homebuyer or repeat buyer purchasing in Areas of Economic Opportunity. Have a bond FHA/Conventional loan from Virginia Housing. Have a household income within Virginia Housings income limits.

How do you qualify for housing assistance in Virginia?

Eligibility Income: HUD defines low-income individuals and families as meeting 80% of the median income of their county or metropolitan area. Individual applicants must be elderly or disabled individuals or the applicant must be a family and. You must be a U.S. citizen or an eligible immigrant.

Who is eligible for the VA housing grant?

The Specially Adapted Housing Grant is available to veterans or servicemembers who are entitled to compensation for permanent and total service-connected disability due to: a. The loss, or loss of use, of both lower extremities such as to preclude locomotion without the aid of braces, crutches, canes, or a wheelchair.

What is the VA form for housing grant?

Use VA Form 26-4555 to apply for a Specially Adapted Housing grant or a Special Home Adaptation grant.

What is the maximum DTI for Vhda?

Maximum DTI 45% with AUS Approval. Manually underwritten loans must meet more restrictive ratio requirements of Virginia housing and FHA.

Application for Qualification as a VHDA Originating Lender - Virginia 2025

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