Tighter restrictions and lower grants for buyers will effect buying power. 

Who does this effect?

Any buyers using VHDA grant programs that are not rate locked by Sep 7th. VHDA is no longer providing the full amount for down payment, they have reduced their maximum allowed debt to income ratio and they have also increased the minimum credit score to qualify to 640.

What is changing?

What should I do?

If you are pre-approved for one of these loan programs you should contact your loan officer to see how it will effect what you can afford and if there are other loan programs available that will work out better for you.