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Income and Sales Price / Loan Limits

Income Limits

All of our first-time homebuyer loans have maximum income and sales price/loan limits based on the geographic area in which the home is located. They are also limited to borrowers who have not owned AND occupied a home as a primary residence in the past three years. Exceptions to this guideline as well as higher income and sales price/loan limits are available for properties located in Areas of Economic Opportunity.

Effective: 12/2017
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Area
Maximum Gross Household Income
Sales Price/Loan Limits
2 or Fewer People
3 or More People
New & Existing Construction
  Standard
With VHDA Down Payment Grant
Standard
With VHDA Down Payment Grant
Washington-Arlington-Alexandria
$125,700
$100,500
$146,700
$117,300
$500,000
Charlottesville
Richmond
Norfolk-VA Beach-Newport News
 $90,000
 $88,200
 $83,200
$72,000
$70,500
$66,500
$105,000
 $102,900
 $97,000
 $84,000
 $82,300
 $77,600
$375,000
Culpeper
Rappahannock
Warren
$87,500
$85,200
$84,200
$70,000
$68,100
$67,300
$102,100
$99,400
$98,200
$81,600
$79,500
$78,500
$425,000
King George
$92,600
$74,000
$106,900
$85,500
$322,900
All Other Areas of Virginia
$76,700
$61,300
$88,200
$70,500
$251,900

 

Calculation of maximum household income varies depending on program type or if combined with an MCC (Mortgage Credit Certificate) or VHDA Down Payment Assistance (DPA) grant.

 

Metropolitan Statistical Area (MSA) Details

Washington-Arlington-Alexandria
Charlottesville
Richmond
Norfolk-Virginia Beach-Newport News

Alexandria, Arlington County,
Clarke County, Fairfax,
Fairfax County, Falls Church,
Fauquier County, Fredericksburg,
Loudoun County, Manassas,
Manassas Park, Prince William County,
Spotsylvania County, Stafford County

Albemarle County,
Charlottesville,
Fluvanna County,
Greene County,
Nelson County
Amelia County, Caroline County,
Charles City County, Chesterfield County, Colonial Heights,  Dinwiddie County, Goochland County, Hanover County, Henrico County, Hopewell,  King William County, New Kent County, Petersburg, Powhatan County, Prince George County, City of Richmond, Sussex
Chesapeake, Gloucester County, Hampton,
Isle of Wight County,
James City County, Mathews County, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, Williamsburg,
York County

 

  • These limits apply to all VHDA loans. FHA Plus combined first and second mortgage cannot exceed maximum sales price limit.
  • Loan amounts that include financed guaranty fees or mortgage insurance premiums cannot exceed VHDA’s sales price limits.
  • Please contact VHDA or an approved lender for the maximum allowable FHA, VA and RHS mortgage limits in a jurisdiction and the RHS gross income guidelines in your area. Loan amounts may include financed guaranty fees or mortgage insurance premiums, but cannot exceed VHDA's sales price limits.

 

The information contained herein (including but not limited to any description of VHDA and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice.

 

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Contact Us

Homebuyer Department

Toll Free: 800-227-8432
Local: 804-783-6725
Homeownership@vhda.com

 

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
Email: InternalAudit@vhda.com
Website: Reporting Fraud, Waste or Abuse