{"data":{"id":"us-va/13vac10-190-70","jurisdiction":"us-va","citation":"13VAC10-190-70","heading":"Eligible loans","body":"The authority may issue an MCC to an  applicant only if his application for the MCC is based upon a loan that:\n\n1. Is not funded in whole or in part from the proceeds of a qualified mortgage bond or a qualified veteran's mortgage bond,\n\n2. Is incurred by the applicant to acquire his principal residence,\n\n3. Is not being assumed from another borrower,\n\n4. 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,\n\n5. Is not a qualified home improvement loan or a qualified rehabilitation loan, and\n\n6. Otherwise satisfies the requirements of 26 CFR 1.25-2T(c)(1).","path":["Title 13. Housing","Agency 10. Virginia Housing Development Authority","Chapter 190. Rules and Regulations for Qualified Mortgage Credit Certificate Programs"],"source_url":"https://law.lis.virginia.gov/admincode/title13/agency10/chapter190/section70/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:51:47Z","sha256":"99a31f828fc86c5c99d4ccebb486632adb5c1d6a6f74836dfb87c6bf8ffd4b39","source_id":"us-va-vac","stale":false,"prev":"us-va/13vac10-190-60","next":"us-va/13vac10-190-80"},"notice":"GroundRules: Original legal text. Not legal advice."}