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Real Estate Agent FAQ

To find answers to most the frequently asked questions, just select a link below.
expand Are there any special qualifying requirements borrowers must meet? 
Yes, the VHDA eligibility requirements listed here. Other qualifying requirements follow the applicable FHA, VA, RHS or conventional PMI guidelines. VHDA accepts loan decisions rendered through Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector Automated Underwriting systems.
expand Can real estate agents or potential borrowers contact VHDA? 
expand Do VHDA loans have special property requirements? 
Yes. Some VHDA loans have maximum sales price limits. In addition, VHDA First-time Homebuyer loans restrict the lot size (two- to five-acre maximum). Otherwise, our loans follow the applicable mortgage-insurer requirements and guidelines.
expand Does processing a VHDA loan take longer? 
expand Does the borrower have to pay a recapture tax if the property is sold? 
Maybe. Homes financed by a VHDA First-time Homebuyer loan may be subject to recapture. In the past, very few VHDA customers have been impacted by this federal tax. Required payment of this tax is initiated by the sales of the financed property within nine years of the purchase date. Recapture tax usually only affects owners who have realized unusually rapid increases in income in addition to significant appreciation in the value of the property.
expand Does VHDA have homes for sale? 
expand Does VHDA require the seller to pay discount points? 
No. The buyer and seller may negotiate points.
expand How do I find a qualified VHDA lender? 
expand Is additional paperwork required to process a VHDA loan? 
Yes. Our special, First-time Homebuyer loans do require one additional document to be executed, and the borrower(s) must provide 3 years of federal tax returns. The seller is required to execute a Sellers affidavit. All other standard lender documents are used.

Contact Us

Homeownership Program Department

Toll free: 800-227-8432
Local: 804-783-6725
Single Family Staff Directory


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