VHDA has a new mortgage loan product that may be a great option for first-time and repeat homebuyers. It’s called the VHDA Fannie Mae (FNMA) HFA Preferred with Reduced Mortgage Insurance (MI) and it comes with the following benefits:
– Lowest conventional mortgage insurance payments.
– Eligible for VHDA Down Payment Assistance grant (DPA) and Mortgage Credit Certificate (MCC).
– Flexible down payment sources – gifts, FNMA Community Seconds, VHDA DPA grant funds.
– No mortgage insurance required with down payments of 20% or more.
For additional information, click here or call VHDA at 800-227-8432.