Wv Home Loans

Home Purchase - Refinance - Debt Consolidation - Heloc
 
 


 

Programs To Help
Buy a Home

The West Virginia Housing Development Fund provides affordable mortgage financing for individuals and families of most incomes through partnerships with over 200 banks, financial lenders, mortgage brokers, and nonprofit housing agencies throughout West Virginia. In order to purchase a home with Housing Development Fund financing, you must contact us to start the pre qualification process.

Single Family Bond Program

30 - year, below-market rate mortgages, providing 97% to 100% financing. Income and house price limits apply, as well as first time home buyer restrictions in 20 counties. (First time home buyer means that applicants cannot have owned a home in the prior three years.)

Closing Cost Assistance Loan Program

This loan is available for applicants qualifying for the Single Family Bond Program. It is a ten-year loan available up to $3,000. No payment is required nor does interest accrue for the first three years.

Ask Us About The Monthly Plus Program

The West Virginia Housing Development Fund is now offering all of its new homebuyers Monthly Plus, a new mortgage product that protects home buyers in the event of involuntary unemployment or suffer an accident that prevents a home owner from working for 30 days. The program benefits borrowers who can’t make a down payment of more than 20% of the house price and are required to buy mortgage insurance. This program is offered by Genworth Financial as a benefit to the mortgage insurance, at no additional cost to borrowers.

Monthly Plus provides:

*For the first 5 years of the mortgage loan, Monthly Plus covers all or a portion of the required monthly mortgage payment, up to $2,000 per month, for up to 6 months.

In the unfortunate event of a job loss, Monthly Plus will help protect your credit by preventing default on mortgage payments, make emergency savings go farther, safeguard your home and provide you with “peace of mind” during the stress of unemployment.

This program is only offered with West Virginia Housing Development Fund mortgage programs. If you are in the market to purchase a home, ask your lender for a West Virginia Housing Development Fund mortgage and the Monthly Plus Program.

Secondary Market Program

10 to 30-year, conventional, fixed-rate mortgages for all income levels, providing 97% financing for the purchase of a primary residence. No first time buyer restriction applies. Maximum loan amount is $333,700.

Closing Cost & Down Payment Assistance Loan

This loan is available for applicants using the Secondary Market Program, whose income does not exceed $55,000. The loan is to be used to cover closing costs and down payment. The loan includes 1% of the price of the house PLUS $1,000.

Refinancing Program

Mortgage refinancing is available. Interest rates are quoted daily. Applicants apply directly to the WVHDF.
 

Employer Assisted Loan Program

The Housing Development Fund provides a mortgage program designed to allow employers in the public and private sectors to participate in providing affordable housing opportunities for their employees. All Employer Assisted Loan Program applicants must participate in a Home Buyer Education class in order to receive zero down payment loans.

The HOME Program

The HOME Program is a federally funded housing program for low and very low-income individuals and families. It provides affordable financing for home repair, home purchases, and rental development. Families that are currently renters, sharing housing units with other family members, or owners of a home requiring substantial repairs to achieve property code compliance are eligible to participate. All applicants must apply through an approved nonprofit housing provider.

Housing Emergency Loan (HELP) Program

The HELP Program is designed to meet the emergency housing repair needs of low-income home owners. "Emergency" in this context includes any structural or construction problem that threatens the health and/or safety of its inhabitants, such as heating and cooling systems, roof and window repairs and sewer or water systems. Loans range in amount from $1,000 to $10,000 and are available through a nonprofit housing organization in your county.