The Movin’ Up Program has been designed to help moderate-income homebuyers purchase a new residence. Unlike our more commonly known homebuyer programs, Movin’ Up does not have a first-time homebuyer requirement and is geared toward home buyers who might have outgrown their current residence or just want to make a change.
For more informaton, please contact a team member in our single-family loan originations department. You may also call us at 1-800-933-8511 or 304-391-8738.
Some Commonly Asked Questions about the Movin' Up Program
Are there income limits? The income limits are set at $113,760 for a one or two person household and $132,720 for a household of three or more.
What is my first step? You are welcome to contact us, but we suggest you contact your local lending institution or mortgage specialist. For a list of lenders we work with, please click here.
What is the interest rate?
Is there a first-time homebuyer requirement? No. There is no first-time homebuyer rule for this program. That doesn't exclude those who may be first-time homebuyers, but it is not a requirement.
Can I still take advantage of Down Payment/Closing Cost Assistance? Yes! That's one of the major benefits of this program. The options are listed below:
What kind of home can I purchase? Single-family structures, townhomes and units in approved Planned Unit Developments or condominiums and new multi-sectional manufactured homes. All must be located in West Virginia.
What types of mortgage insurance does the Fund accept? We take all mortgage insurance including FHA, VA, RD and private mortgage insurance.
Where do I send my payments? We service all loans at our office in Charleston, WV.
Do I have to participate in Homebuyer Education/Counseling? Homebuyer Education/Counseling is required for both the Movin’ Up and Homeownership programs on conventionally insured or uninsured loans. On the government insured loans (FHA, VA, and USDA) follow the insuring agencies guidelines for Homebuyer Education/Counseling requirements. Information on counseling providers may be found at http://data.hud.gov/housing_counseling.html or with your mortgage insurance (MI) provider.
Update - Our requirement that income from all household occupants over the age of 18, excluding those dependants who are enrolled as a full-time student, is being amended to only include the “income of all parties on the note and/or taking title to the property.”
*Please note that any and all APR calculations presented throughout the wvhdf.com website will be based on a sales price of $100,000 with a five percent down payment.