Common Contracts
1 similar Housing Development Authority contracts
PURCHASE AGREEMENT FOR SINGLE FAMILY MORTGAGE LOANSHousing Development Authority • November 19th, 2020
WHEREAS, pursuant to the Virginia Housing Development Authority Act, as amended, being Chap- ter 1.2 of Title 36 of the Code of Virginia, 1950, as amended (the "Act"), Virginia Housing is authorized in the furtherance of its stated purposes to make and purchase mortgage loans, including those privately insured or insured, guaranteed or assisted by the United States or an instrumentality thereof, to eligible borrowers of low and moderate income for the financing of single family housing units (such Virginia Housing mortgage loans to be referred to herein as "Mortgage Loans"), and to enter into agreements with qualified financial institutions for the origination and sale of such Mortgage Loans; and
