Report to the Community



Making an Impact in Virginia

VHDA - Our Impact for Affordable Housing in Virginia


New Homebuyer Stories


VHDA's Loan Combo for First-time Homebuyer

Buying Your First Home with a VHDA Mortgage - Testimonial


FY17 Community Impact Report



FY17 Community Impact Report


Scroll down for infographics showing VHDA’s impact in FY17 for Homeownership, Rental Housing and Homeownership Education.

FY17 Homeownership Report
FY17 Rental Housing Report
FY17 Homeownership Education Report
Financial Statement



Financial Statement


As an independent authority, VHDA receives no state tax dollars for its programs and operations. Traditionally, we have raised capital through the issuance of bonds. However, because of the federal government’s intervention in the mortgage markets, VHDA has been raising capital by securitizing most of its homeownership loans through Ginnie Mae and Fannie Mae. The multifamily program continues to be financed through bonds.



FY17 REACH Virginia Report



FY17 REACH Virginia Report


Each year, VHDA contributes a large portion of our net revenues into a program we call REACH Virginia. We dedicate this money to help meet critical housing needs across Virginia: providing grants to housing counselors, revitalizing communities, making homes more accessible, helping first-time homebuyers make their down payment, helping our nonprofit partners increase their capacity, providing shelter for homeless individuals, and much more.

  • We've set aside $254 million to support $2 billion in housing-related programs since we began the REACH Virginia program in FY06.

  • In FY17, VHDA provided $19 million from REACH Virginia for Down Payment Assistance Grants to first-time homebuyers, leveraging over $700 million in single-family loans.

  • During FY17, we used $45.6 million in REACH Virginia subsidy to finance more than $148 million in loans and grants.



VHDA Leadership



VHDA Leadership as of June 30, 2017


VHDA Board of Commissioners

  • Timothy M. Chapman, Chairman
  • Sarah B. Stedfast, Vice Chairman
  • Clarissa McAdoo Cannion
  • Lemella Y. Carrington
  • Manju Ganeriwala, Ex-officio (State Treasurer)
  • Thomas A. Gibson
  • Kit Hale
  • Charles C. McConnell
  • Shekar Narasimhan, Ex-Officio (DHCD Board Member)
  • David E. Ramos
  • William C. Shelton, Ex-officio (Director, DHCD)


VHDA Organizational Leadership

  • Susan Dewey, Executive Director
  • Llew Anderson, Chief of Staff, Managing Director of Executive Services
  • Barbara Blankenship, Managing Director of Human Resources
  • Art Bowen, Managing Director of Rental Housing
  • Paul Brennan, General Counsel
  • Julie Camus, Managing Director of Risk
  • Pat Carey, Managing Director of Finance
  • J. Howard, Managing Director of Information Technology Services
  • Mike Hawkins, Managing Director of Community Outreach
  • Tammy Neale, Chief Learning Officer, Managing Director of Organizational Development & Learning
  • Janet Wiglesworth, Managing Director of Homeownership


Advisory Boards

You can also view VHDA's current leadership.

About VHDA

About VHDA


Since our creation in 1972 by the Virginia General Assembly, VHDA has helped Virginians attain quality, affordable housing through public-private partnerships with local governments, community service organizations, lenders, Realtors, developers and many others. We provide mortgages for first-time homebuyers, as well as financing for apartment communities and neighborhood revitalization efforts. We offer free homebuyer classes, support housing counseling, and help people with disabilities and the elderly make their homes more livable. We also administer the federal Housing Choice Voucher and Housing Credit programs in Virginia. VHDA is self-supporting and receives no state taxpayer dollars to fund its programs. Instead, we raise money in the capital markets, and we contribute a significant portion of our net revenues each year to help meet Virginia’s housing needs.


About VHDA

About VHDA

About VHDA


Offices in Richmond (headquarters), Glen Allen and Wytheville, Va.


Learn more at vhda.com:


Helping Virginians Attain Quality, Affordable Housing


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