Yes, and the total income of all borrowers listed on the note may not exceed the following limits:

Income of all borrower(s) listed on the note to be included in determining the maximum income eligibility

This new loan is currently a pilot program that only a few lenders can offer. These approved lenders include:

• Atlantic Bay Mortgage Group
• C&F Mortgage Corporation
• George Mason Mortgage
• New American Mortgage
• Presidential Mortgage
• Southern Trust Mortgage
• TowneBank Mortgage
• Union Mortgage
• Village Bank Mortgage

Once out of pilot program status, this loan will be available from additional VHDA-approved lenders.

If you have unsuccessfully attempted to log on three times, the system will lock the loan. Contact Customer Service at 800-235-6938 or email us to have your password reset.

If emailing, please provide your loan number for easy identification and faster service.  You will be contacted when the reset is complete so that you can re-register.

Complete the following fields:

• User ID: The unique user ID of your choice that you'll use to log on in the future. Entry: Type a minimum of one character.
• Password: The password you create to be used to log on in the future. Entry: Type a minimum of six characters, including at least one alpha character and one numeric character.
• Re-Enter Verification: Your password. Entry: Type the information previously entered in the Password field.
• Loan Number: The VHDA loan number for which you want information. Entry: Type your 7- to 13-digit loan number.
• SSN: Your social security or tax identification number. Entry: Type your nine-digit social security or tax identification number.
• Email Address: The email address you want to use to receive loan information. Entry: Type your email address. This address must contain the addressee name and the domain name.(Example: joe.smith@abcmortgage.com)
• Verification Question: Created by you for logon protection. The question will be used if you have misplaced your logon information. It will be presented on the "Forgot Your User ID or Password?" page. Entry: Type a question not to exceed 80 characters. (Example: What is your mother's maiden name?)
• Response: The answer to the question that will validate you, in the event that you misplace your logon information. Entry: Type the response to the Verification Question, not to exceed 50 characters.

Online loan information is available 24 hours a day, 7 days a week. Sign on anytime – from home, work or while traveling.

Hours of availability for online payments are:

• Weekdays 7 a.m. to 11 p.m.
• Saturdays 7 a.m. to 6 p.m.

If you decide to change your insurance carrier, please:

• Make sure your policy meets the insurance requirements for your loan.
• Contact your current insurance carrier to cancel coverage. (You may not receive a refund if a new policy is currently due.)
• Fax a copy of your new policy to VHDA's Insurance Department at (804) 343-8735 as soon as possible so we have your most recent information on record.

Insurance coverage that will be obtained by VHDA when proof of insurance coverage has lapsed, been canceled or has not been received. Force-placed insurance is a safeguard to protect our interest in the property if damage were to occur and you had not maintained adequate coverage.

It is almost always more expensive than insurance coverage you can purchase yourself. Also, if anything should happen to your property, you may not submit any personal claims under a force-placed insurance policy. This is one reason it is critical that you maintain your own homeowners insurance.

You may be eligible to cancel the mortgage insurance if your loan meets the following criteria:

Conventional loans (PMI) - The mortgage insurance can be cancelled if the current loan to value ratio is 80% or less of the original sales price and your account has a 12 month good payment history.

A new appraisal may be submitted to determine current value. A tax assessment will not be used to determine current value.

FHA loans (Mortgage Insurance) MI - The cancellation of MI insurance has stricter guidelines. The termination of this insurance is based on the original down payment and loan origination date. A new appraisal may not be used to determine current value to delete mortgage insurance on a FHA loan.

To see when your mortgage insurance will be eligible for termination on a FHA loan, please contact our Customer Service Department at 1-800-235-6938 or locally at 804-783-6729.

When performing an escrow analysis, the most recent disbursement amount is used to calculate the amount required on an analysis.  Some estimates of expenses are made. Up-to-date tax and insurance bills may not be available at the time of analysis. In estimating an escrow account, over-collection and under-collection may sometimes occur. If there is a surplus of funds in your account after the annual analysis, this is called an overage. If the overage is more than $50.00, it will be refunded, provided your loan is current.

When funds have been under-collected, a shortage occurs. The amount of the shortage would be the maximum negative amount that your account would reach if an adjustment to your payment were not made. If a shortage does occur, your monthly loan payment will be adjusted to include the escrow payment amount plus 1/12 of your escrow shortage. You also have the option of paying off the shortage in one lump sum.