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Rental housing financing as unique as the communities you develop

We specialize in providing lending terms typically not available from other lenders and borrowers are not required to be Virginia-based:

  • Below market financing
  • Long-term rate locks on permanent debt before construction begins
  • High leverage: minimum debt coverage ratio of 1.10 and a maximum 90 percent LTV ratio
  • Non-recourse construction lending
  • Non-recourse permanent lending
  • Construction-to-permanent loan with one closing

Our fixed-rate, long-term financing is tailored to meet individual developer needs. Our loans require no outside bond counsel or credit enhancement.

Applications must be submitted through approved mortgage brokers. Learn more about what to expect during the loan process.

"" Types of Financing
Learn about our financing and how it can be customized to meet your specific needs.

"" Loan Processing Summary
Learn about the loan application and approval process.


Request More Information about VHDA Financing


"" Low-Income Housing Tax Credit Program
The federal Low-Income Housing Tax Credit (LIHTC) program is sponsored by the U.S. Treasury Department and authorized under Section 42 of the IRS Code of 1986. The program, administered in Virginia by VHDA and includes both 4% and 9% credits, encourages the development of affordable rental housing by providing owners a federal income tax credit. It also provides incentive for private investors to participate in the construction and rehabilitation of housing for low-income families.


Multifamily Loan Program Updages


LIHTC Program Updates and Announcements


Upcoming Classes & Events


Contact Us

Compliance & Asset Management Staff


Multifamily Development Staff


Multifamily Servicing Staff


Tax Credit Allocation Staff


Customer Service

Toll Free: 877-VHDA-123
Local: 804-782-1986


Virginia Relay

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


VHDA Fraud, Waste or Abuse Hotline

Phone: 804-915-3146
Website: Reporting Fraud, Waste or Abuse