For Immediate Release:

Introducing A New VHDA Grant Program For Community Heroes

Richmond, VA (July 1, 2019) – LenderSelect Mortgage Group is pleased to announce an exciting new program to its VHDA certified teammates: the VHDA Community Heroes Product.

LenderSelect is committed to supporting families and individuals who make their living serving others in the community. In partnership with FHLBank Atlanta, VHDA’s Community Heroes Grant is a special allocation of funding to provide down payment and closing costs assistance to eligible first-time homebuyers that serve our communities such as law enforcement officers, public school educators, firefighters, and other first responders.

Funding for this program is limited to 125 transactions. $8,000 in grants is available per transaction:

  • VHDA: $6,000 grant ($750,000 total funds allocated)
    • The grant must be used towards down payment, closing costs, discount points, pre-paid items and upfront mortgage insurance premiums as applicable.
  • FHLBank Atlanta: $2,000 grant ($250,000 total funds allocated)
    • The grant fund will be distributed directly to the VHDA certified teammate. Note: The VHDA certified teammate will be responsible for submitting and obtaining approval of FHLB CH Grant funding from FHLBank Atlanta.

Note: A VHDA certification is required to originate VHDA loans.

Related Documents:

Note

Community Heroes is a joint product of the Federal Home Loan Bank of Atlanta and VHDA. Household income restrictions and other requirements apply. Please contact a representative for complete product requirements. Other loan program restrictions may apply. Loan programs may change at any time with or without notice. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend.