1.     Homeownership Program is a 30-year fixed-term loan designed for first-time homebuyers who can finance 100 % of their home. To become an eligible borrower, you have to prove a stable income which must not exceed the county income limit. Moreover, the purchased home must not exceed purchase price limit; income and purchase price limits vary by county.

Homeownership Program requires that you haven’t owned a home in the following counties: Barbour, Berkeley, Boone, Brooke, Cabell, Greenbrier, Hancock, Harrison, Jefferson, Kanawha, Marion, Marshall, Mason Mercer, Monongalia, Morgan, Ohio, Putnam, Raleigh and Wood counties (within the prior three years).

Homeownership Program requires that you buy a home located in West Virginia and use it as your primary residence. You are allowed to buy new or existing single, detached, stick-built, and duplex, townhouse, condominium units or modular homes.

Homeownership Program allows the loan be insured by either: VA, FHA, USDA or by a private mortgage insurance company.

Homeownership Program requires that you attend a homebuyer education course through a specialized provider for getting counseling and support. You are allowed to take an online course too, prior to access the program. You are also advised to contact a specialized lender to guide you through the buying process.

 

2.     Down Payment Assistance Program is a 15-year, fixed-rate loan at a current rate of 2.5 % used for down payment and closing cost assistance. This program can be combined with both the Homeownership Program and the Movin’ Up Program.

Down Payment Assistance Program allows you to get amounts ranging from $5,000 to $15,000 (the lower is the loan to value ratio, the more down-payment assistance you can receive).

Down Payment Assistance Program requires that you buy a home located in West Virginia and use it as your primary residence. You are allowed to buy new or existing single, detached, stick-built, and duplex, townhouse, condominium units or modular homes.

Down Payment Assistance Program allows the loan be insured by either: VA, FHA, USDA or by a private mortgage insurance company. To become an eligible borrower, you have to prove a stable income which must not exceed the county income limit. Moreover, the purchased home must not exceed purchase price limit; income and purchase price limits vary by county.

Down Payment Assistance Program requires that you attend a homebuyer education course through a specialized provider for getting counseling and support. You are allowed to take an online course too, prior to access the program. You are also advised to contact a specialized lender to guide you through the buying process.

 

 

3.     Movin’ Up Loan Program is a mortgage loan program designed to help moderate-income homebuyers purchase a new residence. To become an eligible borrower, you have to meet income limits set at $113,760 (for a 1 or 2 person household) and $132,720 (for a household of 3 or more). 

Movin’ Up Loan Program does not have a first-time homebuyer requirement; it is targeted towards buyers who look for their next home. Thus, you can get $5,000 (for loans with a LTV ratio greater than 90 % of the purchase price) or $8,000 (for loans with a LTV ratio less than 90 % of the purchase price). Movin’ Up Loan Program allows you to buy single-family structures, townhomes and units or condominiums and new multi-sectional manufactured homes. Your home has to be located in West Virginia. Movin’ Up Loan Program offers you two rate options: with points - 3.975% (4.581% APR) and with no points - 4.1% (4.580% APR). Movin’ Up Loan Program requires that you attend a homebuyer education course through a specialized provider for getting counseling and support. You are allowed to take an online course too, prior to access the program. You are also advised to contact a specialized lender to guide you through the buying process.