First Time Homebuyer Programs in Virginia
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a) Conventional Fixed Rate Loan - This loan program is a 30-year fixed, low-interest rate loan program that offers up to 97% of the sales price or appraised value of the desired property. The guidelines of this program requires that the borrower manifest two years of stable employment and an acceptable credit history.

b) FHA (Federal Housing Administration) Program - This loan program is also a 30-year fixed, below market interest rate program that is offered and regulated by the Federal Housing Administration. In applying for this loan program, the borrower must always take into consideration that the qualifying ratios, financing closing costs, mortgage insurance premium, credit and property guidelines will be pattered after the guidelines set by the FHA.

c) VA (Veterans Affairs) Program - This loan program is especially designed to assist qualified active duty military and navy servicemen, reservists, national guard and veterans in the process of obtaining safe and affordable homes.

d) RHS (USDA Rural Housing Services) Program - This program is a 30-year fixed rate program that offers low interest rates compared to the interest rates that are offered through standard conventional loan programs. The program can offer up to 100% of sales price or appraised value of the desired property. In applying for this loan, the borrowers must observe the guidelines that are set by the USDA Rural Housing Services.

e) Federal Housing Administration's Plus Loan Program - This loan program is quite similar to the FHA Program, but it differs in the manner that it offers qualified borrowers to procure a second mortgage that could cover the downpayment and closing costs of a desired property.

First Time Homebuyer Programs in Virginia
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Government Grants Resources

Grants From The National Science Foundation
Since its creation in 1950, the National Science Foundation has been constantly promoting the progress of science by way of advancing national health and prosperity and financially supporting research and development studies in all the non-medical fields of science and engineering.

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Rural Health Research Center Program
The Health Resources and Services Administration has recently established the Rural Health Research Center (RHRC) Cooperative Agreement Program in an attempt to substantially improve the amount of high-quality, impartial, policy-relevant research studies.

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Connecting to Collections Statewide Implementation Grants
The Institute of Museum and Library Services has recently established the Connecting to Collections Statewide Implementation Grants Program.

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Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
In accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.

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Secondary Market Lending Authority Program
The Small Business Administration has constituted the Secondary Market Lending Authority program, one which aims to provide liquidity for the secondary market, thereby ultimately encouraging new lending opportunities from banks of Small Business Administration guaranteed loans.

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First Time Homebuyer Programs in District of Columbia
The Department of Housing and Community Development, more commonly referred to as DHCD, is a local government agency in the District of Columbia that is primarily responsible for increasing quality housing and community development opportunities.

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Motor Carrier Safety Assistance Program High Priority Grant Opportunity
The Federal Motor Carrier Safety Administration has recently announced the Motor Carrier Safety Assistance Program (MCSAP) High Priority grant, which enables the agency to provide funds to State agencies, local governments and organizations representing government agencies as they as train and educate qualified officers and employees in strict coordination with State motor vehicle safety agencies.

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