Date: October 17, 2002
TO: VHDA Originating Agents
Announcing VHDA’s QuickStart Online Product Eligibility Module
In an effort to improve service to prospective Virginia homeowners, VHDA has developed the first in a series of modules to allow lenders, REALTORS® and customers to check eligibility for VHDA products within seconds. While not designed to be a complete automated underwriting engine (i.e. FasTrak), this tool provides a preliminary check of sales price, income and loan limits and helps facilitate understanding of those VHDA products a borrower might want to consider.
After answering a few questions on VHDA's Web site, those prospective borrowers who meet the primary compliance checks will be presented with an Eligibility Certificate that they can take to a participating lender branch for normal application/underwriting procedures. When received, please copy this Eligibility Certificate and submit it to VHDA with the loan file to help us gauge the effectiveness of this new tool.
Click here to access QuickStart
The QuickStart eligibility module is the first step towards a series of consumer calculators, educational resources and pre-qualification features that we will launch online in January 2003.
We greatly appreciate your feedback. Please review the QuickStart eligibility tool and e-mail us your comments and suggestions at your convenience.