Lenders Made Homeownership a Reality for Thousands Through VHDA Loans

The Virginia Housing Development Authority recently honored our 2005 Top Ten Lending Partners at a luncheon event in Richmond. These lenders were recognized for originating the most VHDA loans last year and playing an important part in supporting VHDA’s mission of providing safe, affordable homes for Virginians.

For this fiscal year ending June 30th, VHDA’s lenders are on track to originate $1.2 billion in loan production and their efforts will have helped more than 7,700 Virginia families obtain a home.

During the past 34 years, VHDA’s lenders have played a large part in helping the authority finance more than 142,000 homes – homes that many Virginians could not otherwise afford.

VHDA works with more than 100 lenders in Virginia and our Top 10 Lenders originated more than 60 percent of VHDA’s production in 2005.

VHDA loans are popular with lenders who work with first-time homebuyers because VHDA loans offer no down payment or mortgage insurance, high loan-to-value options, down payment and closing cost assistance, flexible credit underwriting, extended interest rate lock-ins and interest-only payments for part of the term.