VHDA Income, Sales Price and Loan Limits
Print Version- First-time Homebuyer Programs
First-time Homebuyer Programs
Each of our
First-time
Homebuyer Loan Programs has a maximum income and sales price limits
based on the area in which the home is located. The
limits listed in the table below apply to the following programs: 30-year
Fixed Rate, Conventional,
FHA,
VA,
Rural
Development, FHA
Plus, and Homebuyer Tax Credit Plus products.
VHDA's First-time Homebuyer Loan Programs are limited to applicants who have never owned a home or who have not owned a home in the past three years, with the exception of Federal Targeted Areas. Higher Sales Price/Loan and Income Limits are available for properties located in these designated areas. Please reference the Federal Targeted Area limits table for more details.
| |
Gross Household Income |
Sales Price/
Loan Limits |
|
Area |
2 or Fewer Persons |
3 or More Persons |
New & Existing
Construction | |
|
|
|
|
| Richmond MSA |
$64,100 |
$74,300 |
$288,500 |
| |
Louisa |
$63,000 |
$73,000 |
$288,500 | |
|
|
| Winchester/Frederick MSA |
$63,000 |
$73,000 |
$284,900 | |
| Other |
|
|
|
| |
Culpeper |
$63,000 |
$73,000 |
$326,600 |
| |
King George |
$64,700 |
$75,000 |
$326,600 | |
| Statewide (All areas not listed) |
$63,000 |
$73,000 |
$225,100 | | *Please contact VHDA or an approved lender for the maximum allowable FHA, VA and RHS mortgage limits in a jurisdiction and the RHS gross income guidelines in your area.
Loan amounts may include financed guaranty fees or mortgage insurance premiums, but cannot exceed VHDA's sales price limits.
Metropolitan Statistical Area (MSA) Details
Washington, D.C.-Virginia MSA
Alexandria, Arlington County, Clarke County, Fairfax, Fairfax County, Falls Church, Fauquier County, Fredericksburg City, Loudoun County, Manassas, Manassas Park, Prince William County, Spotsylvania County, Stafford County
Norfolk-Virginia Beach-Newport News MSA
Chesapeake, Gloucester County, Hampton, Isle of Wight County, James City County, Mathews County, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Surry, Virginia Beach, Williamsburg, York County
Richmond-Petersburg MSA
Amelia County, Caroline County, Charles City County, Chesterfield County, Colonial Heights, Cumberland County, Dinwiddie County, Goochland County, Hanover County, Henrico County, Hopewell, King and Queen County, King William County, New Kent County, Petersburg, Powhatan County, Prince George County, Richmond City, Sussex
Charlottesville MSA
Albemarle County, Charlottesville, Fluvanna County, Greene County, Nelson County
Limits last updated March 31, 2006
|