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.