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VHDA Plus Second Mortgage

Helping First-time Homebuyers with their dream of homeownership
  • Qualified first-time homebuyers may receive a percentage of
    the purchase price to help with the down payment
  • Gift funds and 401k loans are now acceptable funds to meet
    the 1% asset requirement with VHDA plus Second Mortgage
  • Can be used with either a VHDA FHA first mortgage or
    VHDA’s two Fannie Mae first mortgage programs
  • Maximum second mortgage:
  • 3% for borrowers with a credit score below 680
  • 4.5% for borrowers with a 680 or greater credit score
  • 30-year fixed interest rate, on both the first and second mortgages
  • Completion of VHDA’s free First-time Homebuyer Class

    Other program requirements may apply.

What Do I Need To Apply?
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