{"data":{"id":"us-va/13vac10-40-110","jurisdiction":"us-va","citation":"13VAC10-40-110","heading":"Calculation of maximum loan amount","body":"A maximum of 100%  or in the case of an FHA, VA, Rural Development, Fannie Mae, or Freddie Mac loan or a loan with private mortgage insurance, such other percentage as may be permitted by FHA, VA, Rural Development, Fannie Mae, Freddie Mac, or the private mortgage insurance  provider of the lesser of the sales price or appraised value. However, the executive director may establish  other percentages if the executive director determines that  other percentages are necessary to protect the authority's financial interests or to enable the authority to effectively and efficiently allocate its current and anticipated financial resources so as to best meet the current and future housing needs of the citizens throughout the Commonwealth.\n\nIn the case of an FHA, VA, or Rural Development loan, the FHA, VA, or Rural Development insurance fees or guarantee fees charged in connection with such loan, and other costs as allowed by the applicable insurer or guarantor, may be included in the calculation of the maximum loan amount in accordance with applicable FHA, VA or Rural Development requirements. However, in no event shall this revised maximum loan amount, which includes such fees and closing costs, be permitted to exceed the authority's maximum allowable sales price limits set forth  in this chapter.","path":["Title 13. Housing","Agency 10. Virginia Housing Development Authority","Chapter 40. Rules and Regulations for Single Family Mortgage Loans to Persons and Families of Low and Moderate Income","Part II. Program Requirements"],"source_url":"https://law.lis.virginia.gov/admincode/title13/agency10/chapter40/section110/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:51:45Z","sha256":"3aadb020cded627950e358ac206587d6626e15b648dc07768c03301741351d7b","source_id":"us-va-vac","stale":false,"prev":"us-va/13vac10-40-100","next":"us-va/13vac10-40-120"},"notice":"GroundRules: Original legal text. Not legal advice."}