March 17, 2005
To: VHDA Originating Lenders
Updated Income Limits
VHDA is pleased to announce updated Income Limits for all First-time Homebuyer Bond Programs and Flexible Alternative Loan Programs. These limits are based on federal income limits recently released by HUD. Unless identified separately on the Sales Price/Income Limits chart, all areas fall under the "Statewide" limit. Many areas that were added to MSAs have not yet been updated in HUD's Median Income Limits and therefore are displayed separately within the specific MSA. Most areas realized a modest increase, however, some areas remained unchanged.
The new limits are now available on www.vhda.com and the new Sales Price/Income Limits Chart may also be printed.
All limits are effective immediately.
Spanish Speaking Loan Officers
In preparation for our increased effort to serve the growing Virginia Hispanic population, we are in the process of compiling a list of all loan officers who offer VHDA financing and are fluent in Spanish.
Please e-mail us at firstname.lastname@example.org by March 23rd with the name, telephone number, branch location and e-mail address of Spanish-speaking loan officers in your office(s) who would like to participate in this initiative.