Virginia regulations · Through 2026 Regular Session (effective July 1, 2026)

13VAC10-190-70: Eligible loans

Where this section sits in the code

Title 13. Housing
Agency 10. Virginia Housing Development Authority
Chapter 190. Rules and Regulations for Qualified Mortgage Credit Certificate Programs

The authority may issue an MCC to an applicant only if his application for the MCC is based upon a loan that:

1. Is not funded in whole or in part from the proceeds of a qualified mortgage bond or a qualified veteran's mortgage bond,

2. Is incurred by the applicant to acquire his principal residence,

3. Is not being assumed from another borrower,

4. Is not a refinancing of other indebtedness of the applicant, except in the case of construction period loans, bridge loans, or similar temporary financing that has a term of 24 months or less,

5. Is not a qualified home improvement loan or a qualified rehabilitation loan, and

6. Otherwise satisfies the requirements of 26 CFR 1.25-2T(c)(1).

Collected 2026-09-14T04:51:47Z. Source file · JSON

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