Northern Virginia First Time Buyer Programs are still available with NO down payment.
Recently VHDA, a provider of down payments for first time buyers with household income of less than $114,000, changed their credit score requirements. In a previous blog about VHDA No Money Down Financing, the credit score was only 620 to finance up to five percent of your sales price with a second mortgage. Now borrowers can still finance the FHA three and a half percent down payment with a 620 score. To receive the full five percent you must now have a 680 middle score. If you need a few points to raise your credit scrore, we have ways to help fast.
VHDA FHA Plus is a great loan for Northern Virginia First Time Buyers with higher incomes and sales prices than surrounding areas. If you are not a veteran, looking to purchase ina rural area, or make too much money for the grant program the FHA Plus may be for you.
Contact me your VHDA Approved Lender.