West Virginia First Time Home Buyer Programs

West Virginia First Time Home Buyer Programs

Are you weighing the decision to buy your first home in West Virginia? Would you like information regarding various programs available to help you purchase that first home? If so, read on. The state of West Virginia provides programs and incentives for its residents who are first time home buyers and need help with the down payment and closing costs. Additionalluy, there are Federal programs available as well as grants from private foundations. This is free money that shouldn’t be passed up! The program amounts can be in the thousands of dollars. It will be well worth your time to educate yourself about the programs that are available to residents of West Virginia.

The agency in West Virginia that provides down payment, closing cost and educational help is the West Virginia Housing Development Fund. There are currently no direct first time home buyer grants available from the WVHDF, regardless upon your income. However, Down payment and closing cost assistance loans are available to home buyers to reduce the amount of upfront money needed to purchase a home. Home buyers will be able to select the following option if they qualify:

A 15-year loan with a maximum amount up to $15,000 for qualified borrowers with a deferment period of five (5) years. During the deferment period, the interest rate would be 0% with no payment due. The remaining ten (10) years would be a fully-amortizing loan at 2.75% interest. In effect, you are receiving a grant of the interest that you would have had to pay. To find out the specific details, please visit the West Virginia Housing Development Fund website page specifically describing this beneficial grant program. You can reach it at West Virginia programs.

Here is the contact information for the West Virginia Housing Development Fund:

West Virginia Housing Development Fund
5710 MacCorkle Avenue SE
Charleston WV 25304
Phone: (304) 391-8600
Toll-free: 1-800-933-9843

Local Programs Throughout West Virginia

In addition to the home buyer programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance to West Virginia Residents. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to grants in West Virginia.

Here is the contact information for the HUD office in West Virginia:

Charleston Field Office
405 Capitol Street
Suite 708
Charleston, WV 25301-1795
Phone: (304) 347-7000
Fax: (304) 347-7050

In addition to the programs described above, the U.S. Department of Agriculture provides first home buyer incentive programs to Nebraska residents. There are various programs designed specifically for people who meet certain requirements, and these programs can and do change over time. Currently there are these programs:

“The Rural Housing Programs of West Virginia work to improve the quality of life for rural Americans by ensuring that they have access to safe, well-built, affordable homes. A house is more than a roof over our heads; it is often the cornerstone upon which rests our ability to live near good jobs and to gain access to good schools and other public services. Home ownership builds economic stability and, over the long term, creates equity to finance education, business startups and retirement. People with equity in their homes not only take greater pride in them, they also become more involved in their communities. Rural Housing Programs thus, not only helps rural people acquire homes, it helps build better lives and communities.”

City of Charleston HOME Program  (304) 348-8035

“HOME Program and HOME Blend Program – both are designed to assist low-mod persons in becoming a homeowner. American Dream Downpayment Initiative (ADDI) – used in conjunction with the HOME programs to assist first-time homebuyers.”

West Virginia Habitat for Humanity Home Programs (304) 720-7636

“If your family, or a family you know, is in need of decent, affordable housing, please contact your local Habitat affiliate.

The Habitat affiliate will explain the application process and provide information on the availability, size and cost of Habitat homes in your area.

Habitat affiliates will select “partner families” to become Habitat homeowners. Partner families are always selected based on their:

Level of need
Willingness to become partners in the program
Ability to repay the no-profit, no-interest loan

Habitat for Humanity follows a nondiscriminatory policy of family selection. Neither race nor religion is a factor in choosing partner families.”

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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