Homeownership Interest Rate for December 11, 2017:
4.00% (APR: 4.480%)

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December 6, 2017
RIPLEY – The West Virginia Housing Development Fund recently celebrated the dedication of Elizabeth Way Apartments.     Erica...
November 27, 2017
Fund Remains Only Housing Finance Agency with “AAA” Distinction   Standard & Poor’s Rating Service has once again affirmed West...
August 16, 2017
The West Virginia Housing Development Fund is proud to announce the promotion of two long-time employees.   Crystal Toney will be...
August 9, 2017
CROSS LANES – As of Monday, there is one less blighted, dangerous building in Kanawha County.   It took about 20 minutes for a large...
June 1, 2017
Most know the West Virginia Housing Development Fund through our home-buying programs. One in 10 West Virginia homebuyers have entrusted us...
April 25, 2017
The West Virginia Housing Development Fund’s Board of Directors has approved a loan to the Kanawha County Commission to help take down...
April 18, 2017
  Erica L. Boggess has been named Executive Director of the West Virginia Housing Development Fund.     Boggess, who has...
March 30, 2017
A message to our customers:   Here at the Fund, we are proud of what we do. We are honored by the fact that so many West Virginians...
February 14, 2017
We are pleased to present the West Virginia Housing Development Fund’s Fiscal Year 2016 Annual Report. This is an important record of...
January 26, 2017
  The West Virginia Housing Development Fund is excited to welcome Governor Jim Justice and Agriculture Commissioner Kent Leonhardt...

Fund Remains Only Housing Finance Agency with “AAA” Distinction

Fund Remains Only Housing Finance Agency with “AAA” Distinction

 

Standard & Poor’s Rating Service has once again affirmed West Virginia Housing Development Fund’s “AAA” issuer credit rating. The “AAA” qualification is Standard & Poor’s highest ranking and the Fund is the only state housing finance agency to receive a “AAA” rating.

 

The rating service lauded the extremely high credit quality of the Fund’s asset base, the Fund’s ability to successfully meet its legislative mandate, the extensive experience of the Fund’s management team and its conservative philosophy.

 

According to the report, the Fund “has been successful in meeting its mission of financing affordable housing for West Virginia residents.”

 

The authors of the report also noted that the Fund has a “strong, mutually beneficial” relationship with the West Virginia Legislature “that allows (the Fund) to function with autonomy,” and that the Fund’s board of directors’ provides “a great source of stability and depth of knowledge.”

 

A few accolades the Fund received include:

·       The Fund’s extremely strong credit quality, very good asset-to-liability coverage and low-risk asset base.

·       The Fund’s proactive approach to the lending community and willingness to adopt creative strategic initiatives.

·       The Fund’s excellent history of working with the state to meet its legislative mandate.

 

“The “AAA” rating is a great testament to the Fund’s staff and their hard work. They understand the agency’s mission and take it to heart each and every day,” said Gov. Jim Justice, who serves as the chairman of the Fund’s Board of Directors. “We are the only state housing agency in the country to achieve and maintain a “AAA” rating. That really speaks to our dedication. But more importantly, this rating helps us do what we do best – help state residents make their dream of homeownership a reality.”

 

 “We are fortunate to serve a community who understands what it means to own a home,” said Erica Boggess, the Fund’s Executive Director. “We have faith in this state and its residents, and that faith is reflected in this rating. We are only as good as our clients, but, we’re lucky to have the best clients in the nation.”

 

In addition to this distinction, The Huffington Post had also named West Virginia the best state for first-time homebuyers specifically because of Fund mortgage programs.

 

Standard & Poor's is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data.

 

The West Virginia Housing Development Fund is a public body corporate and governmental instrumentality of the State of West Virginia established to increase the supply of residential housing for persons and families of low- and moderate-income, and to provide construction and permanent mortgage financing to public and private sponsors of such housing.  To date, the Housing Development Fund has issued more than $4.4 billion in bonds and has financed more than 119,000 housing units since it began operation in 1969. The West Virginia Housing Development Fund is an Equal Housing Opportunity Lender.  

The West Virginia Housing Development Fund is the state's affordable mortgage finance agency.

The WVHDF was established to develop and improve the state's housing opportunities for residents.