Helping Virginians Attain Quality, Affordable Housing
Relationship to the State Government: Independent Authority
Current Staff Size: 433
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VA Housing is established
Created the Virginia Housing Fund with $45 million
Only housing finance agency in the country to be awarded a AA+ general obligation rating from Standard and Poor’s
Generated funds internally to finance the SPARC program
Created the Granting Freedom grant program
Created the Community Outreach Division
Total Financing Provided
Renters Served Since 1972
Homeowners Served Since 1972
Each year, Virginia Housing reinvests a portion of our net revenues into communities through REACH Virginia. This resource supports initiatives including affordable housing for lower-income households, accessible housing for seniors and people with disabilities, revitalization of older urban areas, and preservation of small towns.
Funding Made Available to Date: $72.8 Million
Susan F. Dewey
“We are committed to working with our partners in government, industry, and academia to provide more affordable and equitable housing opportunities for all Virginians. As we move forward, we are focused on strengthening minority homeownership, revitalizing public housing communities, and other critical needs.”
Wayne and Tracy Jordan
Big Stone Gap, VA
A $150,000 Community Impact Grant helped the community of Big Stone Gap rehabilitate one of its much-loved buildings – The Mutual, located on Main Street. For Wayne and Tracy Jordan, the renovated space meant they could finally open up the restaurant they had been dreaming of. “This project coming through, and the remodeling of the building was an opportunity for someone like myself,” said Wayne Jordan. “I wouldn’t have been able to do it on my own.”
Developer Faith Linton had a vision of turning Buckroe Pointe, a townhome community in need of revitalization, into quality, affordable housing with attractive landscaping. She turned to Virginia Housing, which responded by lending the majority of the $12 million needed for renovation. This partnership allowed Linton to transform the property and bring educational opportunities to residents to help address the generational cycle of poverty.
After attending Virginia Housing’s first military homebuyer class, Chief Petty Officer Mario Santiago used what he learned to qualify for a mortgage and buy his first home, where he and his wife still live today. Virginia Housing’s homeownership education team works on-site with military financial educators to teach topics including Working with a Lender, the Role of the Real Estate Agent, and the benefits of developing a savings and spending plan.