Administrative Code

Virginia Administrative Code
Title 13. Housing
12/11/2019

Agency 10. Virginia Housing Development Authority

Preface
Agency Summary
Chapter 10
Rules and Regulations - General Provisions for Programs of the Virginia Housing Development AuthorityRead all
Section 10
Definitions
Section 20
Eligibility for Occupancy
Section 30
Forms
Section 40
Interest Rates
Section 50
Federally Assisted Loans
Section 60
Administration of State and Federal Programs; Acceptance of Aid and Guarantees
Section 70
Assistance of Mortgage Lenders
Section 80
Purchase of Mortgage Loans
Section 90
Waiver
Section 100
Amendment
Section 110
Separability
Chapter 20
Rules and Regulations for Multi-Family Housing DevelopmentsRead all
Section 10
Purpose and Applicability
Section 20
Income Limits and General Restrictions
Section 30
Terms of Mortgage Loans
Section 40
Application and Acceptance for Processing
Section 50
Feasibility and Commitment
Section 60
Initial Closing
Section 70
Construction
Section 80
Completion of Construction and Final Closing
Section 90
Mortgage Loan Increases
Section 100
Operation, Management and Marketing
Section 110
Transfers of Ownership
Section 120
Prepayments
Section 130
Modification of Regulatory Controls and Mortgage Loan
FORMS
Forms (13VAC10-20)
Chapter 30
Rules and Regulations for Single Family Housing DevelopmentsRead all
Section 10
Purpose and Applicability
Section 20
General Description
Section 30
Terms of Mortgage Loans
Section 40
Solicitation of Proposals
Section 50
Application and Processing
Section 60
Initial Closing
Section 70
Construction
Section 80
Mortgage Loan Increases
Section 90
Sale of Housing Units; Supervision by the Authority
Chapter 40
Rules and Regulations for Single Family Mortgage Loans to Persons and Families of Low and Moderate IncomeRead all
Section 10
General
Section 15
Definitions
Section 20
Origination and Servicing of Mortgage Loans
Section 30
Eligible Persons and Citizenship
Section 40
Compliance with Certain Requirements of the Tax Code
Section 50
Eligible Borrowers
Section 60
Eligible Dwellings
Section 70
Targeted Areas
Section 80
Sales Price Limits
Section 90
Net Worth
Section 100
Maximum Gross Income
Section 110
Calculation of Maximum Loan Amount
Section 120
Mortgage Insurance Requirements
Section 130
Underwriting
Section 140
Loan Assumptions
Section 150
Loan Term and Owner Occupancy
Section 160
Loan Lock-In and Fees
Section 170
Loan Decision
Section 180
Buy-Down Mortgage Loans
Section 190
Property Guidelines
Section 200
[Repealed]
Section 210
Condominium Requirements
Section 220
Subordinate Financing Program
Section 230
Mortgage Loan Programs Funded by Taxable Bonds
Section 240
Down Payment and Closing Cost Assistance Grants
Section 250
Government-Sponsored Enterprises Programs
Section 260
Fha, Va, or Rural Development Streamline Refinance Program
Section 270
Real Estate Owned Condo Program
Section 280
Reduced Rate Financing
FORMS
Forms (13VAC10-40)
Chapter 50
Rules and Regulations for Home Rehabilitation Loans [Repealed]Read all
Section 10
[Repealed]
Chapter 60
Rules and Regulations for Energy Loans [Repealed]Read all
Section 10
[Repealed]
Chapter 70
Rules and Regulations for Section 8 Existing Housing Assistance Payment ProgramRead all
Section 10
General Program Description
Section 20
Implementation of the Program
Section 30
Administration of the Program
Section 40
Program Funding
Section 50
Responsibilities of the Authority and the Administrative Agent
Chapter 80
Rules and Regulations for Section 8 Moderate Rehabilitation and Project-Based Certificate Assistance ProgramsRead all
Section 10
General Description of Programs
Section 20
Eligible Rental Housing
Section 30
Eligible Owners
Section 40
Eligibility of Initial Tenants of Units to Be Rehabilitated
Section 50
Rehabilitation and Construction Standards
Section 60
Determination of Contract Rents for Units
Section 70
Fair Market Rents for Units
Section 80
Sources of Financing for Rehabilitation and New Construction
Section 90
Federal Requirements Which the Owner Must Meet During Rehabilitation or Construction and Management
Section 100
Processing of Owner Proposals
Section 110
Requirements Following Rehabilitation and Construction
Chapter 90
Rules and Regulations for Virginia Rental Rehabilitation ProgramRead all
Section 10
Definitions
Section 20
Purpose and Applicability
Section 30
Program Eligibility
Section 40
Allocation of Funds
Section 50
Program Requirements
Section 60
Grant Administration
Section 70
Allocation and Administration of §8 Certificates and Vouchers
Section 80
Annual Performance Review
Chapter 100
Rules and Regulations for Virginia Homesteading Program [Repealed]Read all
Section 10
[Repealed]
Chapter 110
Rules and Regulations for Mortgage Credit Certificate Program [Repealed]Read all
Section 10
[Repealed]
Chapter 112
Rules and Regulations for Allocation of Low-Income Housing Tax Credits [Repealed]Read all
Section 10
[Repealed]
Chapter 120
Rules and Regulations for Reach VirginiaRead all
Section 10
Definitions
Section 20
Applicability and Purpose
Section 30
General Principles
Section 40
Terms of Loans
Section 50
Interest Rates
Section 60
Solicitation of Applications and Proposals
Section 70
Authority Programs under Reach Virginia
Section 80
Application and Selection for Processing
Chapter 130
Rules and Regulations for Multi-Family Housing Developments for Mentally Disabled PersonsRead all
Section 10
Definitions
Section 20
Purpose and Applicability
Section 30
Income Limits and General Restrictions
Section 40
Terms of Mortgage Loans
Section 50
Application and Acceptance for Processing
Section 60
Feasibility and Commitment
Section 70
Closing
Section 80
Construction
Section 90
Completion of Construction and Final Closing
Section 100
Seed Money Loans
Section 110
M/D Loan Increases
Section 120
Operation and Management
Section 130
Transfers of Ownership
Section 140
Prepayments
Chapter 140
Rules and Regulations for the Acquisition of Multi-Family Housing DevelopmentsRead all
Section 10
Purpose and Applicability
Section 20
Income Limits and General Restrictions
Section 30
Terms of Acquisition and Construction Loan
Section 40
Application and Acceptance for Processing
Section 50
Feasibility and Commitment
Section 60
Initial Closing
Section 70
Construction
Section 80
Completion of Construction and Final Closing
Section 90
Construction Loan, Permanent Loan and Purchase Price Increases
Section 100
Operation, Management and Marketing
Chapter 150
Rules and Regulations for the Virginia Senior Home Equity Account ProgramRead all
Section 10
Definitions
Section 20
Purpose and Applicability
Section 30
Eligible Applicants
Section 40
Title
Section 50
Condition of Home
Section 60
Taxes
Section 70
Insurance
Section 80
Maximum Amount
Section 90
Adjustments in the Maximum Amount
Section 100
Loan Term
Section 110
Interest Rate and Compounding
Section 120
Equity Payments
Section 130
Repayments
Section 140
Acts of Default
Section 150
Term and Extensions of Home Equity Account
Section 160
Repairs
Section 170
Requests for Equity Payments
Section 180
Optional Notification of Third Parties
Section 190
Allowable Use of Funds
Section 200
Application
Section 210
Aaa Review
Section 220
Authority Review and Commitment
Section 230
Closing and Fees
Section 240
Right to Terminate Program
Chapter 160
Rules and Regulations for Administration of Rent Reduction Tax CreditsRead all
Section 10
Definitions
Section 20
Purpose and Applicability
Section 30
General Description
Section 40
[Repealed]
Section 41
[Repealed]
Section 50
[Repealed]
Section 51
[Repealed]
Section 55
Review and Selection of Application; Allocation of Tax Credits
Section 60
Eligibility of Tenants and Verification
Section 70
Administration of Allocation of Tax Credits
Section 80
Tax Credit Period
Section 90
Maintenance of Records; Submission Requirements; Termination of Occupancy
Section 100
Certification to the Virginia Department of Taxation
Section 110
Notification to the Virginia Department of Taxation of Noncompliance with State Code or These Rules
Section 120
Authority to Increase Allocation of Credits
Chapter 170
Rules and Regulations for Hud-Insured Home Equity Conversion Mortgage Loans to Elderly Persons of Low and Moderate Income [Repealed]Read all
Section 10
[Repealed]
Chapter 180
Rules and Regulations for Allocation of Low-Income Housing Tax CreditsRead all
Section 10
Definitions
Section 20
Purpose and Applicability
Section 30
General Description
Section 40
Adoption of Allocation Plan; Solicitations of Applications
Section 50
Application
Section 60
Review and Selection of Applications; Reservation of Credits
Section 70
Allocation of Credits
Section 80
[Repealed]
Section 90
Monitoring for IRS Compliance
Section 100
Tax-Exempt Bonds
Section 110
Qualified Contracts
Section 120
[Repealed]
FORMS
Forms (13VAC10-180)
Chapter 190
Rules and Regulations for Qualified Mortgage Credit Certificate ProgramsRead all
Section 10
Definitions
Section 20
Description of the Program
Section 30
Purpose, Applicability, and Scope of Regulations
Section 40
Eligible Persons
Section 50
Eligible Properties
Section 60
Eligible Lenders
Section 70
Eligible Loans
Section 80
Determination of the Amount of Each Program
Section 90
Portions of Each Program Amount to Be Set Aside
Section 100
Determination of Certificate Credit Rate
Section 110
Certification of Lenders
Section 120
Fees
Section 130
Terms of Each Program
Section 140
Priority of Applications
Section 150
Targeted Areas
Section 160
Discretion to Allocate
Section 170
Mccs Not Transferable
Section 180
Applications for McCs
Section 190
Issuance of an McC
Section 200
Compliance Investigations


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