State Bond/VHDA Programs | OVM Financial - Lending Redefined
Home Loan Programs

State Bond Programs

Quick Facts

  • Purchase Your First Home
  • Can Assist with Costs
  • Terms Vary Across States

Are you a first time home buyer? Then a state bond program may be right for you.  A state bond program loan provides you with assistance with a down payment and/or closing costs for first time home buyers.

Eligibility and terms vary across states, but these programs typically apply for lower income, first time buyers. State specific details below:


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 3 - 3.5% of the purchase price, based on the down payment required for the eligible VHDA loan.
  • Buyers must have household incomes at or below program limits.
  • More info here.

About the NC Home Advantage Mortgage:

  • Qualified first-time homebuyers may receive a percentage of the purchase price to help with the down payment.
  • Offers up to 5% of the loan amount to purchase your new home.
  • More info here.
 

Frequently Asked Questions

1Can I qualify for a state bond program?
Each state has specific requirements. The best way to find out if you will qualify is to contact a Loan Officer.
2How much money can i receive from the program?
For VA buyers, the maximum is 3.5% of loan amount. For NC buyers, the maximum is 5% of the loan amount. Note that these are the maximums - depending on individual eligibility, actual amounts may vary.
3How do I get more information on the bond program?
The team of OVM Financial Loan Officers can provide additional information on program specifics.

Loan Program Resources



Download Bond Program Loan Fact Sheet

Download Loan Fact Sheet

Calculator

Home Value $
Monthly
Total
Downpayment (%)
0%
Loan Term (yrs)
30
Interest Rate (%)
1.5%