West Virginia's HOMEownership Program provides eligible homebuyers with a 30-year, fixed rate mortgage loan that finances up to 100 percent of the purchase price of the home, with the option of down payment assistance.

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HOMEownership Program

Financial Assistance for Homebuyers in West Virginia

In an effort to help individuals achieve their dreams of homeownership, the West Virginia Housing Development Fund offers the HOMEownership Program. The program provides eligible homebuyers with a 30-year, fixed rate mortgage loan that finances up to 100 percent of the purchase price of the home, with the option of down payment assistance.

Individuals eligible for the HOMEownership Program have two options for down payment assistance. Mortgages with a loan-to-value ratio greater than or equal to 90 percent of the purchase price can receive $7,500 in assistance funds, while those with a loan-to-value ratio less than 90 percent can receive $10,000.

Eligibility Requirements
  • Borrowers’ gross income must fall within the county limits.
  • All applicants must show proof of maintaining an average credit score and have acceptable stable income.
  • The home they plan on buying must also not exceed their county’s purchase price limit.
  • The  first-time buyer requirement applies to all those buying a home located in non-targeted counties (Barbour, Berkeley, Boone, Brooke, Cabell, Greenbrier, Hancock, Harrison, Jefferson, Kanawha, Marion, Marshall, Mason Mercer, Monongalia, Morgan, Ohio, Putnam, Raleigh and Wood counties). A first-time buyer includes any person who has had an ownership interest in a principal residence at any time during the three-year period ending on the date the program loan is closed.
  • Any property being purchased must be located in the state of West Virginia, and must serve as the buyer’s primary residence.
  • The HOMEownership Program covers the following property types: single, detached, existing, stick-built or modular homes; duplex, townhouse, or condominium units, and new double-wide mobile/manufactured homes. Property conveyed with the home transaction cannot exceed five acres.
  • The HOMEownership Program requires Homebuyer Education/Counseling for conventionally insured or uninsured loans. On the government insured loans (FHA, VA, and USDA) follow the insuring agencies guidelines for Homebuyer Education/Counseling requirements.

Down Payment Grants in West Virginia

West Virginia's HOMEownership Program provides eligible homebuyers with a 30-year, fixed rate mortgage loan that finances up to 100 percent of the purchase price of the home, with the option of down payment assistance.

The West Virginia Housing Development Fund aims to help moderate-income individuals achieve their dreams of homeownership via the Movin’ Up Program.  The program is designed for first-time homebuyers and for those who have outgrown their current home.

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