Down Payment & Closing Cost Help for Virginia Homebuyers

The Virginia Housing Development Authority (VHDA) has Fiscal Year 2008 funding allocations still available under its HomeStride program for eligible first-time homebuyers in Loudoun County. The program provides low-interest second mortgages for down payment and closing cost assistance up to $25,000 or 10% of the sales price, whichever is less. The loan program offers zero payments and zero interest for the first 3 years with repayment for years 4 through 30 at a 5% interest rate. Applicants must be first-time homebuyers; use HomeStride in conjunction with a VHDA First Trust loan product; and meet VHDA's standard eligibility requirements. To learn more, contact: VHDA; (877) VHDA-123; http://www.vhda.com/vhda_com/apps/DocumentLibrary/document_load.asp?docid=1952 or Department of Family Services; 703-771-5916; chris.vogel@loudoun.gov
Application: http://www.vhda.com/vhda_com/apps/DocumentLibrary/document_load.asp?docid=1953
Income Eligibility: Determined on a case-by-case basis.