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Dynamic Home Team - Thai Hung Nguyen
703-362-5012
thaihung@gmail.com
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Dynamic Home Team - Thai Hung Nguyen
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703-362-5012
thaihung@gmail.com
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Dynamic Home Team has helped homebuyers to achieve their dream with as little as only 1% down payment. Here is how it works:

- Home price: $300,000
- Minimum Down Payment (FHA loan): $10,500
- VHDA Grant: up to $7,500
- Your own fund: $3,000

Below are some requirements you need to qualify for.  Contact Us Now to qualify for the grant.

Program Updates

Effective January 11, 2017

 

About VHDA’s Down Payment Assistance Grant: 

  • Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment. 

  • Maximum grant will be 2 - 2.5 % of the purchase price, based on the down payment required for the eligible VHDA loan.

  • Minimum credit score: FHA 620 , Fannie Mae 660

  • Maximum 45.00% DTI

  • Buyers must have household incomes at or below program limits.

  • Down Payment Assistance Grant may be used with eligible VHDA loans only.

  • Grant funds may not be used in combination with other down payment assistance resources (including FHA Plus).

  • Down Payment Assistance Grant has no repayment.

  • VHDA’s eligible first mortgage must be locked on or after the program implementation date.

  • The eligible first mortgage must be locked prior to reserving the grant funds.

  • All borrowers receiving this grant are eligible for a Mortgage Credit Certificate (MCC). Borrowers must apply for an MCC through an approved MCC lender and receive an MCC commitment / approval prior to closing. (An MCC is a dollar-for-dollar credit against your federal income tax liability. For information about MCCs, visit vhda.com/MCC.

  • Other program requirements may apply. Contact a VHDA lender to discuss all eligibility requirements.

More details here: http://www.vhda.com/Homebuyers/Pages/DownPayment.aspx