The West Virginia Housing Development Fund has revamped its newest home ownership program to make it available to more West Virginia homebuyers. In an effort to expand the Movin’ Up program, the Fund has raised income limits and eliminated county-related stipulations.
Under the old requirements, buyers had to make less than a predetermined annual income and . income limits varied from county to county. With the new plan, income limits have not only increased significantly, but are now the same in each county.
“We made these changes after listening to feedback from our lending partners, Realtors and other stakeholder’s in our state’s housing industry,” said Erica Boggess, the Fund’s Executive Director. “We want this program to be open and accessible and we think these changes reflect that.”
“The foundation of the program remains the same,” Boggess said. “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.”
Single-family structures, townhomes and units in approved Planned Unit Developments or condominiums and new multi-sectional manufactured homes can be purchased under Movin’ Up. All homes must be located in West Virginia.
All types of mortgage insurance including FHA, VA, RD and private mortgage insurance can be used with this program.
For more information, call 1-800-933-8511.