VDHCD Offers Low Interest Loans To Virginia 1st Home Purchasers

Special Loan Program For 1st Time Buyers In VA

If you’re looking to purchase your first residence in Virginia but find yourself at a loss as to where to turn for a mortgage loan. You need not worry. First time home buyer loans in Virginia are provided by the Virginia Department of Housing and Community Development (VDHCD). Not only do they provide below-market rates on your mortgage loan, they also provide other exciting programs for 1st time home buyers.


Virginia First Time Home Buyer Loans
Virginia First Time Home Buyer Loans

Here are some details on VDHCD’s loan program:

How to Apply for a VHDA Loan

Contact a VHDA-approved Lender

Your application can be made directly through any lender in VHDA’s statewide network of approved mortgage lenders. These lenders, who are Originating Agents for VHDA, are available to provide you with personal service that includes:

  • Providing information on our various loan programs.
  • Pre-qualifying you for a loan so you’ll know the approximate price range of homes to shop for.
  • Completing all necessary paperwork for your loan approval.
  • Coordinating the loan closing with your real estate agent and closing agent.

If you can’t locate a VHDA-approved lender in your area using our Find a Lendersearch feature, or if you want to contact us directly, please call 877-VHDA-123.

Get Ready for the Loan Application

Being prepared for the loan application reduces the time it takes to go from loan application to loan approval. Here’s what you’ll need:

  • Copy of current pay stub(s) – 30 days.
  • Copies of all bank account statements – current two months.
  • Copies of previous three years of federal income tax returns.
  • List of monthly debt obligations and account numbers (credit cards, student loans and installment accounts).

For complete details on this loan, including contact information and instructions on how to apply, please visit this VDHCD loan page.

More Virginia First Time Buyer Resources

In addition to the above first time homebuyer loan from VDHCD, there are resources available as well. Be sure to visit Virginia down payment assistance, as well as our page that shares details about grants available in VA to purchase your first home.