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New Income and Sales Price Limits

Income and Sales Price Limits We are pleased to announce new Virginia Housing maximum income and sales price limits effective with new applications on or after August 18, 2021. Income and sales price limits increased for the following:

  • Washington-Arlington-Alexandria MSA
  • Rappahannock County
  • Warren County
  • All Other Areas of Virginia (jurisdictions that are not listed separately)

All other MSAs remained the same.

Reminders:

  • Standard limits apply to all loan programs (Conventional / FHA / VA /RHS), the Plus Second Mortgage, and MCCs.
  • Lower income limits apply to Virginia Housing Grant programs.
  • Virginia Housing’s Household Income Matrix is a useful resource to determine what income limit to apply and whose income must be included.
  • In addition to the above income limits, Virginia Housing Conventional loans with qualifying income greater than Fannie Mae / Freddie Mac 80%AMI are subject to loan level price adjustments (LLPAs). These AMI limits for qualifying income are different from Virginia Housing’s standard and lower income limits mentioned in this announcement. The 2021 Fannie Mae / Freddie Mac AMI limit changes took place already and were announced in June.

 
 

 

Questions? Please contact:

Melissa Whitlow, Underwriting Manager
Melissa.Whitlow@VirginiaHousing.com

Mindy Hall Sexton, Loan Program Manager
Mindy.Hall-Sexton@VirginiaHousing.com

Underwriting Team
Underwriting@VirginiaHousing.com

 

 

 

Contact Us

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Toll free: 800-227-8432
Local: 804-783-6725
Homeownership Originations Contact Information

 

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Local: 804-782-1986

 

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In Virginia: 711
Toll Free: 800-828-1140

 

Virginia Housing Fraud, Waste or Abuse Hotline

Phone: 804-915-3146
Email: InternalAudit@vhda.com
Website: Reporting Fraud, Waste or Abuse