This Program has been suspended at this time.
The Mountaineer Mortgage Plus . . . Renovation Program (MMPR) enables home buyers to purchase and/or renovate owner occupied, single-family houses, or allow current homeowners the ability to refinance and renovate their home with a single mortgage loan. Borrowers can obtain financing to purchase or refinance their present loan, plus up to $25,000 for property renovation. One loan, one interest rate and one payment.
Loan Terms
The mortgage loan can be either a 15- or 30- year term only, with the rate being fixed for the term of the loan. Borrowers may elect to use the Housing Development Fund's Down Payment and Closing Cost Assistance Program up to $6,000. The program is designed so that borrowers may have as little as $500 of his or her own funds for the program.
Eligible Borrowers
There are no income limits, house price limits or first-time home buyer requirements to participate in the MMPR Program.
Eligible Properties
The only restriction is a maximum loan amount not to exceed $417,000. Only single-family, owner-occupied properties are eligible for the MMPR Program. Manufactured homes are not currently eligible. All work must be performed and completed by a licensed contractor(s) approved by the participating lender and accepted by WVHDF.
Eligible Renovations
Licensed contractors are able to perform the following renovations:
- Upgrade of heating and cooling systems;
- Upgrade of electrical service box and wiring;
- Room additions;
- Upgrade for energy efficiency - insulation, windows, roofing;
- Well and septic systems;
- Minor foundation improvements;
- Siding;
- Handicap accessibility
Contact Us for more information on the Mountaineer Mortgage Plus Renovation Program.