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Special Program Announcement: Free Mortgage Payment Insurance

To: VHDA Lenders
From: Janice Burgess
Date: November 14, 2006

VHDA Announces FREE Mortgage Payment Peace of Mind

VHDA is pleased to announce free involuntary unemployment mortgage payment insurance to VHDA customers who obtain conventional loans with mortgage insurance through Genworth Financial, MGIC, Radian and AIG United Guaranty.

Now your first-time homebuyers can feel more secure purchasing a home because it eliminates their greatest worry-"What happens if I lose my job?"

You’ll have peace of mind, too, because you can originate an insured loan and offer an added borrower benefit at no extra cost to you, to the borrower or to VHDA.

Combined with VHDA’s below-market interest rate and reduced mortgage insurance coverage requirements, this new benefit makes it easy for you to provide first-time homebuyers with low monthly payments and the security of up to six months of mortgage payment insurance.
Best of all, the process is simple-in most cases, it involves no more work than submitting the standard paperwork for mortgage insurance.
For details on the specific advantages and requirements for each mortgage insurance company’s program, contact your local mortgage insurance representative or click on the links below.

  • Genworth Financial Consumer Flyer
  • Genworth Financial Lender Flyer
  • Genworth Financial Lender Brochure
  • MGIC Lender Flyer
  • Radian Lender Flyer
  • AIG United Guaranty Lender Flyer

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