VHDA

The Virginia Housing Development Authority, commonly known as VHDA, is a self-supporting, independent agency of the Commonwealth of Virginia. Established in 1972, its primary mission is to help Virginians achieve sustainable homeownership and to finance the development of affordable housing throughout the state. VHDA does not receive state appropriations; it funds its operations through the sale of tax-exempt bonds and revenue generated from its loan programs.

VHDA offers a range of homeownership programs, including mortgage loans with competitive interest rates, down payment assistance, and homebuyer education services. These programs are designed to make purchasing a home more accessible, particularly for first-time homebuyers and those with moderate incomes. The authority works with a network of private lenders across Virginia to deliver its mortgage products.

In addition to supporting individual homebuyers, VHDA plays a significant role in the creation and preservation of affordable rental housing. It provides financing and tax credit allocations for developers to construct or rehabilitate multi-family properties that remain affordable for low-to-moderate-income residents. This dual focus on both owning and renting underscores VHDA's commitment to addressing diverse housing needs within the Commonwealth. The agency is governed by a board of commissioners appointed by the Governor of Virginia.