This year marked the 20th anniversary of VHDA’s partnership with the U.S. military. Since 1998, we've offered free homebuyer classes for service members and their families to help them prepare for homeownership. Here is one military family’s success story.
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.
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.
You can also view VHDA's current leadership.
When homes are affordable and accessible to jobs, good schools and transportation, everyone benefits. Individual lives are improved and communities as a whole grow stronger. VHDA was created in 1972 by the General Assembly to help Virginians attain quality, affordable housing. We carry out this mission by working in 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 our 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 most difficult housing needs.
Learn more at vhda.com:
Copyright © 2018 · All Rights Reserved