VHDA is a self-sustaining organization that pays all operating expenses from program revenues. Our bonds are not obligations of the Commonwealth of Virginia and are not repaid with tax dollars. Our work is done in partnership with investors-as well as developers, lenders and non-profit organizations-that use Virginia Housing Development Authority financing to serve low- and moderate-income Virginians.

We leverage government and private funds to invest in financially sound, well-designed projects that help families become more stable, put down roots and climb the economic ladder. As a result, communities grow and prosper, broadening their tax base, creating new jobs and maximizing local resources. Our Finance Department is responsible for the acquisition of capital and management of the balance sheet, income statement and cash flow.

Approximately $1 billion in notes and bonds are issued annually to provide funding for our loan programs. VHDA’s general obligation ratings of AA+ and Aa1 by Standard & Poor’s Rating Services and Moody’s Investors Service, Inc., respectively, are among the highest ratings given to any housing finance authority (HFA) in the nation.

To learn more, please contact our Finance Department.