Fixed Rate Loans

VHDA offers 30-year, fixed rate loans at interest rates lower than typically available through standard conventional loan programs.

Fixed rate loans are available as Conventional uninsured or with private mortgage insurance, FHA, VA or Rural Housing loans.

Automated approvals via Loan Prospector or Desktop Underwriter are accepted for Conventional loan-to-values up to 97% and FHA/VA loans.

Federal Recapture Tax

Loans funded from one of these programs could be subject to a Recapture Tax. The required payment of this tax is initiated by the sale or transfer of the financed property within nine years of the purchase date. This tax usually affects only owners who have realized unusually rapid increases in income in addition to significant appreciation in the value of the property.

Click here for an Online Recapture Calculator.

It is suggested potential buyers contact a tax advisor or the IRS for more information concerning the possibility of the payment of a Recapture Tax. Click here for an IRS explanation of the recapture of federal subsidy.