Virginia First Time Home Buyer Tax Credit. All are 30 year fixed rate loans. To learn more about the land preservation tax credit see our land preservation tax credit page.
The standard 3 5 fha down payment can be brought. Eligible first time buyers can receive a dollar for dollar credit through this program sponsored by the virginia housing development authority vhda. Created as a response to the 2008 financial crisis the housing and economic recovery act hera allowed new home buyers to get a tax credit of up t0 7 500 during the first year of the initiative.
It seems virginia housing has made them even better with this program.
Virginia housing offers a variety of affordable home mortgages. The affordable monthly payment and discounted upfront cost is great but it s the insurance benefit that really shines. It seems virginia housing has made them even better with this program. Owning a home has always come with tax perks but virginia has just sweetened this usual benefit of homeownership with a new program called the mortgage credit certificate mcc.