HOMEBUYER LOAN RATES

Fixed Rate	3.625%	3.786% APR
FHA Plus	3.875%	4.039% APR
Homebuyer Tax Credit Plus First	3.875%	4.039% APR

Home Loans

Homeownership Made Affordable

Looking for the VHDA loan that’s right for you? We offer a variety of home mortgage loans aimed at meeting the many needs of today’s homebuyers. Some of our loans don’t require a down payment. VHDA loans also provide high loan-to-value options, flexible underwriting and down payment and closing cost assistance, plus our interest rates are fixed for 30 years. All loans have maximum income and sales price limits and/or loan limits, which vary according to where the home is located.

Program	Benefits	Features
30 Year - Fixed Rate Programs (Check Eligibility)
Conventional Fixed	The lowest fixed payment for eligible applicants. Conventional private mortgage insurance allows up to 97% of sales price.	Low 30-year fixed interest rate. Low fixed monthly payments.
FHA	FHA-insured. The most liberal credit qualifying. Low down payments.	Low 30-year fixed interest rate. Low down payment. Easy qualifying.
VA (Veterans Administration)	VA-guaranteed. Low, fixed interest rate. No down payment for eligible veterans.	Low 30-year fixed interest rate. $0 down payment. Low fixed monthly payments.
RHS (Rural Housing Service)	Government-insured. No down payment in approved rural areas.	Low 30-year fixed interest rate. $0 down Low fixed monthly payments
FHA Plus Check Eligibility	FHA-fixed first mortgage. No down payment cash is needed, because in addition to VHDA’s FHA-insured first mortgage, you’ll also receive a second mortgage to help fund your down payment and closing costs. Maximum loan amount: First mortgage – maximum FHA mortgage Second mortgage – 3.5% to 5% of sales price No cash back	Low 30-year fixed interest rate on both the first and second mortgages. $0 down payment.
Homebuyer Tax Credit Plus Check Eligibility	Use the federal First-time Homebuyer Tax Credit for a down payment on a VHDA mortgage. The loan has a built-in second mortgage to help cover the down payment and closing costs, with zero interest and no payments for the first 12 months.	Affordable fixed rate on both mortgages Second mortgage has zero interest and no payments for the first 12 months Choose the preferred payment plan for the second mortgage
SPARC (Sponsoring Partnerships and Revitalizing Communities) Check availability in your community	Lowest monthly payment for first-time homebuyers.	Interest rate ½% below VHDA’s standard first-time homebuyer rates.