Frequently Asked Questions

VHCDC (Virginia Housing and Community Development Corporation) is a 501(c)(3) tax-exempt community development corporation. See About Us for more information.

A Community Development Entity (CDE) is a specialized organization certified by the U.S. Department of the Treasury to promote investment and economic growth in underserved communities. To qualify, a CDE must have a mission focused on community development and maintain accountability to the residents of the low‑income areas it serves.

VHCDC is open Monday thru Friday from 10:00 AM to 4:00 PM, except federal holidays.

Clients enrolled in our Home Ownership Assistance Program (HOAP) participants may access the HOMEownership DPA/CCA grant, SPARC (interest rate reduction), the Virginia Individual Development Account (VIDA) program, the Virginia PILOT DPA/CCA, and the Transition Assistance Grant (TAG). All programs depend on eligibility and funding availability.

Yes. To receive down-payment or closing-cost assistance from VHCDC, you must be enrolled in the Home Ownership Assistance Program (HOAP). Enrollment ensures you receive the required homebuyer education and one-on-one counseling, which prepares you for successful, sustainable homeownership and allows VHCDC to verify eligibility before assistance is awarded.

As a HOAP participant, you won’t navigate the process alone. VHCDC works directly with you from start to finish, connecting you with our in‑house network of trusted service partners - including our trusted network of mortgage lenders, dedicated buyer’s agents, home inspectors, insurance agents, and closing/settlement agents. This coordinated support helps you move confidently through every step of the homebuying journey, from preparation to keys-in-hand.

Enrollment costs $99.95 per household. The fee is non-refundable and includes free registration for the First-Time Home Buyers College, a complimentary tri-bureau credit report, technical assistance, and access to VHCDC’s in-house real estate network.

Subscribe to email alerts or contact VHCDC to identify the activities and areas of interest you want to follow.

Yes. Pre-purchase counseling is available independently and does not require HOAP enrollment. However, you will be responsible for payment for the tri-bureau credit report. The fee is $52.00 per person.

No. Our housing counselors must obtain a tri-bureau credit report with FICO scores and additional information that is not included with consumer credit reports. You may, if you cannot afford the fee, request a waiver due to hardship. Contact our Housing Services Office to apply.

During pre-purchase housing counseling, a VHCDC Housing Counselor works with you to build a realistic household budget, prepare a personal financial statement, obtain and review your tri-bureau credit report, address credit challenges, establish a savings strategy, create a work-plan to resolve credit and financial challenges, become mortgage-ready, and navigate available down-payment assistance programs.

HOAP participants gain access to a trusted network of mortgage lenders, real estate agents, home inspectors, real estate attorneys, insurance professionals, financial advisors, accountants, tax preparers, and business consultants who support them throughout the homebuying process.

VHCDC pulls your tri-bureau credit report only for counseling purposes. This is a soft inquiry, which does not affect your FICO score in any way. We access your report solely to help you understand your credit, address any issues, and prepare for mortgage or rental readiness - so there’s no impact and no need to worry.

VHCDC cannot underwrite, modify, or service mortgage loans. If you need help with your existing mortgage, you must contact your loan servicer directly, as they are the only party authorized to make changes to your loan or accept payments.

However, if you are experiencing a financial hardship and are struggling to make your mortgage payments, VHCDC may be able to assist you. Our housing counselors can help you understand your options, communicate with your servicer, and work toward solutions that may prevent delinquency or foreclosure. While we cannot change your loan, we can guide you through the process and advocate for you during a difficult time.

VHCDC cannot manage, modify, or administer Housing Choice Vouchers. If you need help with your voucher, you must contact the Public Housing Authority (PHA) that issued it, as they are the only agency authorized to make changes, process requests, or answer questions about your voucher.

However, if you are a voucher holder seeking homeownership, rental counseling, or support navigating housing challenges, VHCDC can still assist you. Our housing counselors can help you understand your options, strengthen your readiness, and connect you with resources - but all voucher-related decisions must go through your issuing PHA. Click here for a list of Virginia's Public Housing Authorities.

VHCDC will try to help. Use the Contact page for assistance.