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Virginia Housing Programs

The Virginia Housing is a self-supporting and not-for-profit organization created by the Commonwealth of Virginia in 1972, to help Virginians attain quality, affordable housing. VHDA provides mortgages, primarily for first-time homebuyers.

Atlantic Bay offers a variety of mortgage products through Virginia Housing to meet the many needs of today’s homebuyers. These loans provide additional benefits to buyers on top of traditional financing. Some of the features include less down payment, lower credit score requirements, flexible underwriting, and closing cost assistance.

Below are four of the programs that Virginia Housing & Member Select offers and the benefits of each.

Virginia Housing FHA Plus:

  • 100%-101.5% financing
  • Low 30-year fixed interest rate

Virginia Housing VA (Veterans Administration):

  • VA-guaranteed
  • Low 30 year fixed interest rate
  • No down payment for eligible veterans
  • No mortgage insurance

Virginia Housing Conventional Fixed:

  • 100% - 101.5% financing
  • Low 30-year interest rates
  • Mortgage Insurance required over 80% of sales price
  • No upfront mortgage insurance

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The featured lender has an affiliated business relationship with EDC Homes. You are under no obligation to use the featured lender for financing. If you have a brokerage relationship with another agency, this is not intended as a solicitation. This communication is provided to you for informational purposes only and should not be relied upon by you. EDC Homes is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn more about its mortgage products and your eligibility for such products. Information deemed reliable but not guaranteed. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 ( is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 203 Virginia Beach, VA 23452.