Hampton Roads Homebuyers VHDA loan changes

Dated: 08/23/2011

Views: 781

Really interest rates are at an ultimate low! Combined with VHDA's (Virginia Housing Development Authority) new increased maximum income limits this makes it possible for more first-time home buyers and anyone who has not purchased in last 3 years to qualify for a VHDA loan. No down payment? This may be no problem apply for a VHDA/FHA Plus loan that can help you with the 3.5% down payment. Regular VHDA loans follow FHA guidelines as well as specific income limits. Income limits increased in all areas of Virginia. This is great news for those of us in Southern Virginia from Chesapeake to Williamsburg. In Hampton Roads: Now for a family of 2 or less if you have a household income of $79,600 (up from $71,000) and for a family of 3 or more the house hold income increases to $92,200 (up from $80,000). For home buyers who meet this income limit, a Home buyer Education class and other documentation requirements would be required to qualify. VHDA mortgages offer an affordable fixed rate usually at a minimum 3.5% down payment and for those that qualify for a VHDAPLUS loan this can help you with the down payment requirement. For more info on locating a VHDA lender and loan guidelines give me a call or email me asap. Do Not Miss This Great Opportunity! Visit my website today, The Hampton Roads Real Estate Lady! Deandrea "Dee Dee" Jones Associate Broker Blu Skyy Realty Virginia Beach, VA [email protected] http://DJonesRealEstate.com
Blog author image

Alycia Jordan

Having lived in other cities, such as Cleveland and Idaho Falls, I only appreciate Hampton Roads that much more. Why? Because from almost anywhere in our area, a beach is only about a 20 minute dri....

Want to Advertise on this Site?

Latest Blog Posts

US Mortgage Rates Of Less Than 4 Offer A Happy New Year

What makes Christmas and New Year’s better than friends, family, and savings? How about owning a home? The holiday season is a cheerful time spent with family, but for those of us with families

Read More

How To Avoid Shock At Closing When Buying A Home

First time homebuyers often think the sale price of a listed home is the only cost associated with the purchase. However, many additional fees are associating with the real estate purchasing

Read More

What Is A Good Faith Estimate

Real Estate Terms: What is a Good Faith Estimate?The good faith estimate (GFE) is an important document for potential homebuyers. It can be acquired for free, but it’s likely you will incur a

Read More

10 Tax Tips For Homeowners

When it comes to tax kickbacks for homeowners, first-time buyers have it made. Not only can they nail whatever they want to the wall for the first time ever, but they also have some of the most

Read More