VHDA is pleased to announce a special allocation of funding available to eligible first time homebuyers financing with either of VHDA’s Fannie Mae Programs.
Details
Assistance in the amount of $1500 provided towards the borrowers closing costs (including prepaids and upfront MI) – not toward downpayment
This is a grant – no deed of trust – no repayment required
Funding is limited – funding available for 150 purchases transactions – first come first serve
We anticipate funds will be utilized very quickly
Lower income limits – lower income limits apply (limits are lower than the VHDA grant program see attached limits)
Limited time – loans must close by October 17, 2017
Closing Costs assistance may be used in conjunction with VHDA’s DPA Grant and MCCs
Borrowers may not receive cash back at closing
Lenders may offer the closing costs assistance to borrowers currently locked with a VHDA Fannie Mae loan
- Chesterfield, Hanover, and Henrico income limit is $62,960, Richmond City is $62,960.
No comments:
Post a Comment