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Get a VHDA loan through CBM Mortgage.A VHDA loan offers opportunities for affordable housing to Virginians who under other circumstances might not be able to afford a quality residence. These programs are designed to assist creditworthy first-time homebuyers or those who have not owned and occupied a home anytime in the last three years and meet the sales price and income limits.

To meet VHDA eligibility requirements, loan applicants must:

  • be a first-time homebuyer (no prior ownership in any residence during the previous three years—does not apply when purchasing property in areas of economic opportunity),
  • intend to occupy the property,
  • not use home in trade or business,
  • limit lot size to two acres (waivers may be obtained up to five acres),
  • demonstrate creditworthiness,
  • demonstrate stable income and adequate funds for down payment and closing costs,
  • meet program income and sales price limits, and
  • complete VHDA's Homeownership Education class.

FHA PLUS: VHDA’s Most Popular Home Loan

This VHDA-financed FHA-insured home loan includes a second mortgage designed to help qualified borrowers who need down payment and closing costs assistance.

  • No down payment cash is needed because, in addition to VHDA’s FHA-insured first mortgage, you’ll also receive a second mortgage to help fund your down payment and closing costs.
  • Fixed rate for 30 years, on both the first and second mortgages.
  • Maximum loan amount:
    • First mortgage—maximum FHA mortgage
    • Second mortgage—3.5% to 5% of sales price
  • No cash back.
  • Loans serviced in Virginia by VHDA.

Benefits to FHA Plus Loans:

  • Allows 100% financing through two loans.
  • FHA guidelines apply.
  • FHA maximum loan amounts apply.
  • Seller contribution is allowed.

Contact a mortgage specialist with CBM Mortgage today to learn more about these exciting loan options and to find out which is best for you and your family!

We can work with you to get preapproved online, over the phone, or face-to-face.

We welcome you to apply for a mortgage with us for your next home purchase or refinance! A locally owned business, CBM has convenient locations in Winchester, Va.Strasburg, Va.; and Front Royal, Va.

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