|
Community Heroes Grant Reservation Requests
Virginia Housing is updating the process for reserving a Community Heroes Grant. Effective at 5 pm today, February 25, 2026, reservation requests for the Community Heroes Grant submitted through Mortgage Cadence will be reviewed and processed by Virginia Housing's Lock Desk. Once the loan is locked and the Community Heroes Certification is uploaded, the Lock Desk will review the request and generate the reservation confirmation, which will then be accessible in Mortgage Cadence. Please note: grant reservations are not confirmed until the lock desk generates the confirmation.
Reservation Expiration and Relock Process
Existing reservations for Community Heroes Grants will follow the lock process outlined in section 3.1 Lock-In Policies and Procedures of the Virginia Housing Origination Guide.
Expired Rate Lock - Lock Cancellation on Same Property: The reservation for a Community Heroes Grant will not transfer if the loan is relocked.
Rate Lock - Lock Cancellation Due to Property Change: The reservation for a Community Heroes Grant will not transfer to the new lock with the new property.
Lock Transfers - Change in Lender: The reservation for a Community Heroes Grant will not transfer to the new lock with the new lender
Relocks: The reservation for a Community Heroes Grant will not transfer to relocks.
Loan Product Change: Provided all requirements outlined in the Origination Guide for a Product Change are met, and the new product is eligible for the Community Heroes Grant, the reservation will transfer to the new loan product for the original lock/reservation period.
| 
