Tax transcripts continue to be required on Conventional loans unless all the income is validated through an AUS data validation system. Please turn on JavaScript and try again.Helping Virginians Attain Quality, Affordable HousingThe Leading Mobilizing Force for Affordable Housing Income limits have also increased for the FHA Streamline Refi and VA Interest Rate Reduction loan programs. The information contained herein (including but not limited to any description of Virginia Housing and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice.It looks like your browser does not have JavaScript enabled. These limits are available in the FHA Streamline Refi and VA IRRRL program guidelines. Current offerings are Conventional, FHA, VA, and USDA Rural Housing programs with 30-year fixed-rate terms. Another variation of assistance offered by Virginia … Loan amounts that include financed guaranty fees or mortgage insurance premiums cannot exceed Virginia Housing’s sales price limits. These limits apply to all Virginia Housing loans. 2. Virginia Housing Plus combined first and second mortgage cannot exceed maximum sales price limit. Minimum credit score: FHA 620 , Fannie Mae No MI 660, Fannie Mae Reduced MI 640. Exceptions to this guideline as well as higher income and sales price/loan limits are available for properties located in
The loan amount plus all funding/guarantee fees must fall at our below our published loan limits. IBC. Areas around buildings are to be graded to have a minimum 5% slope away from foundation walls for a minimum distance of 10 feet, per. They are also limited to borrowers who have not owned AND occupied a home as a primary residence in the past three years. Virginia Housing offers a variety of loan programs to assist creditworthy first-time homebuyers and repeat buyers. Please turn on JavaScript and try again.Helping Virginians Attain Quality, Affordable HousingAmelia 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, SussexThe Leading Mobilizing Force for Affordable Housing Previous Homeownership While some of our programs allow for repeat homebuyers, the majority of our programs are for first-time homebuyers. Maximum grant will be 2 - 2.5 % of the purchase price, based on the down payment required for the eligible Virginia Housing loan. Maximum 45.00% DTI; Buyers must have household incomes at or below program limits. The Originating Lender may close a loan without tax transcripts, however is still responsible for providing them to VHDA for purchase. Maximum grant will be 3 - 3.5% of the purchase price, based on the down payment required for the … Obtaining tax transcripts directly from the IRS is acceptable. Lower income limits apply to the VHDA Grant Program. Fannie Mae No MI Program with VHDA Grant. 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. In addition to following agency and insurer guidelines for each of our programs, Virginia Housing also implements the following requirements:It looks like your browser does not have JavaScript enabled. VHDA’s website has been updated September 1, 2017 to reflect the new limits. A chart with the new limits is attached. When achieving an 8-inch height separation is not feasible, due to accessibility requirements or other conditions, provide an alternate solution acceptable to VHDA. Toll Free: 877-VHDA-123 Local: 804-782-1986 Virginia Relay In Virginia: 711 Toll Free: 800-828-1140 Virginia Housing Fraud, Waste or Abuse Hotline Phone: 804-915-3146 Email: InternalAudit@vhda.com Website: Reporting Fraud, Waste or Abuse