I am pleased to announce that Presidential Mortgage Group is one of the few mortgage companies that have been selected to participate in VHDA’s new pilot program.  The program is for 97% conventional VHDA loans without PMI (private mortgage insurance).  The borrower does NOT have to be a first time buyer.  Rates are higher than normal VHDA rates, but the absence of PMImakes the payment lower.  VHDA income limitsapply and there is a minimum credit score requirement of660.  Giftfundsare allowedand can be used towards the buyer’s down payment and closing costs.