Frequently
Asked Questions
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here for additional FAQ sections available on VHDA's Website
Q: What is VHDA?
A: The Virginia Housing Development Authority is a $6.6 billion housing finance organization, that holds one of the highest ratings in the nation. VHDA is completely self-supporting and relies on neither federal nor state funds for its operations.
Q: How does VHDA help potential homeowners?
A: VHDA has several mortgage loan programs developed to meet the needs of low to moderate-income first-time homebuyers. These loans are originated primarily by private lenders. Included as part of the Single Family services are VHDA's Homeownership Education Classes, which are provided at no cost to the public, on an ongoing, statewide basis.
Q: How does VHDA help developers and landlords?
A: VHDA's Multifamily Division provides mortgage loans to private sector developers, primarily for multifamily rental projects for low- and moderate-income tenants. VHDA also administers the federal low-income housing tax credit program.
Q: How is VHDA funded?
A: All of the funds that support VHDA programs are provided by the private sector through the purchase of VHDA bonds. The bonds do not constitute a debt or obligation of the commonwealth.
Q:Who comprises the Board of Commissioners?
A: The VHDA Board of Commissioners is comprised of 10 members, all of whom are appointed by the governor. Seven are direct appointees. The treasurer of Virginia and a representative of the state Board of Housing and Community Development serve ex-officio. The Director of the Department of Housing and Community Development also serves ex-officio and as a non-voting member.
| Additional FAQ Sections |
| FAQ for Prospective Homeowners |
| FAQ for Existing VHDA Loan Customers |
| FAQ for Realtors |
| FAQ Regarding VHDA REO Properties |
| FAQ Regarding VHDA's Multifamily Division |