VHDA Plus Second Mortgage

    Want More Down Payment Assistance in Virginia?

    The VHDA Plus Second Mortgage Program may be right for you!

    In order to offer down payment assistance to more homebuyers, VHDA has created a new second mortgage product called the “VHDA Plus Second Mortgage”. You’ll need to contact your mortgage loan officer for full eligibility requirements and questions about the assistance options available, but here’s a quick outline of the features and benefits this program offers:


    • Eliminates funds needed for a down payment
    • Helps to keep total mortgage payment affordable
    • Could eliminate funds needed at closing
    • Increases home ownership for first-time and specific repeat buyers
    • Higher income limits assist buyers who don’t qualify for grant funds
    • Can be paired with Mortgage Credit Certificate (MCC) program


    • 0% down payment
    • 2nd mortgage is a 30-year fixed rate
    • Qualified home buyers can borrow 1.5% more than the sales price
    • Eligible for first-time buyers and repeat buyers purchasing in Federal Targeted Areas
    • VHDA standard income limits apply
    • First time buyer required
    • Minimum credit score: FHA 620 | Fannie Mae 640 | Fannie Mae No MI 660

    Source: VHDA

    What is VHDA?

    The Virginia Housing Development Authority (VHDA) is a not-for-profit organization created by the Commonwealth of Virginia to help Virginians attain quality, affordable housing. Commonly known for its robust first-time home buyers program, over the years, VHDA has transformed into a multifaceted organization which is no longer limited to working just with first-time homebuyers. While still offering traditional mortgage products targeted for those buying their first home, VHDA also offers programs in partnership with Fannie Mae that keeps homeownership in reach for all families who qualify. In addition to standard qualifying criteria loans, VHDA loans target families that are within a specific income range based on where they live in the State.

    Have Questions?

    Our local financing experts at Village Bank Mortgage are here to help you! Village Bank Mortgage is a preferred lender with the VHDA and is proud that many of the VHDA’s Top Loan Officers call Village Bank Mortgage their home.

    Contact a loan officer today for more information!


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    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Central Virginia area.


    We would like to thank Chris on the sale of our first home and purchase of our second home. My wife and I were very impressed with the diligence and devotion to us as our real estate agent during this process. Chris was very accommodating to our busy schedules during showings and very responsive to our calls throughout the whole process. We were so delighted with the services and we highly recommend Chris to any family looking for a professional agent that is committed to meeting their expect…
    Ryan & Emily (Buyer & Seller)