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The West Virginia Homeowners Rescue Program is CLOSED to all new claims and applications. Visit www.wvhomeresuce.com for more information. You may check the status of your application by logging into the application portal


The West Virginia Veterans’ Home Loan Mortgage Program is open! Click here for more information, including eligibility requirements and how to find a participating lender in your area. 

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The West Virginia Housing Development Fund offers affordable mortgages to finance the purchase of a home and help to most homeowners if they choose to refinance.

Borrowers can find affordable options offered by the Fund through our partnership with more than 40 banks, credit unions, and independent mortgage companies as well as non-profit housing agencies throughout the state.

Although we welcome any inquiry you might have, we encourage potential home buyers to contact a lender in their area to discuss options and how they could benefit from a WVHDF program.

Once you and your lender have established that a Fund loan is right for you, your loan will be serviced at our office in Charleston.

Customer Testimonial: Angela Iafrate

Angela Iafrate feaYoung woman with brown hair wearing a white tank top and blue jeans stands on the front porch of her home with a blue front door in the background.red her marital status, income, and student loan debt would permanently close the door to homeownership. Then she found our Homeownership Program and Low Down Home Loan. Thanks to those programs, Angela and her son now have a home of their own.

Angela started her homebuying journey in July 2022. Her first step was to begin gathering financial documents, such as paystubs and tax records, that she would need to apply for a mortgage. Her next step was to research programs available to first-time homebuyers. That’s when she came across the West Virginia Housing Development Fund.

“There were a couple of things specifically that made me gravitate toward the Fund, and one was the down payment assistance,” she said. “I had enough for a small downpayment, but it would have completely wiped out my reserves. Secondly, I thought the Fund is geared toward people like me who can buy a house but we’re not necessarily on paper a great financial prospect even though I can afford the payment. The bank seemed intimidating to me whereas the Fund looked friendly. That is probably my own insecurities, but that was the vibe—they’re here to help people like me.”

To read more about Angela’s experience with the West Virginia Housing Development Fund, visit our Customer Testimonial Page.

Programs for Homebuyers

 
The Movin’ Up Home Loan Program
The Homeownership Program
offers low-interest rate loans
to qualified first-time home
buyers. This program is 
compatible with the Low
Down Home Loan.
The Movin’ Up Program is
geared toward those with a
higher income who can
afford more or need more
space. This program has
no first-time buyer
requirement.

The Veteran’s Home Loan
Mortgage Program is a
special loan available to
military veterans, active
service members, and
surviving spouses.
Borrowers must
be first-time home buyers.

The Low Down Home Loan
offers up to $8,000 in down
payment and closing
cost assistance for
borrowers using the
Homeownership
Program.

 

 

Call 800-933-8511 to speak with one of our experienced loan originators!

The Home Loan Process

After you have a sales contract on the home you select, you will meet with your lender again to complete the loan application. Your lender may request the following:

A man in a dark t-shirt and shorts stands next to a woman with a blue t-shirt and black shorts on a sidewalk in front of a small, white, single-story home.
Ray and Connie Moeller bought their Morgantown home using the Fund’s Homeownership Program and Low Down Home Loan. Their monthly mortgage payment is only $60 more than they paid in rent.
  1. Fully executed purchase contract and a copy of the seller’s deed.
  2. Personal check to pay for appraisal of the property.
  3. Names and addresses of your landlords for the past two years.
  4. Copies of last three years signed federal tax returns, with all schedules and W2s.
  5. List of all your assets, including bank accounts (checking, savings, Certificates of Deposit, Individual Retirement Accounts, etc.) with current bank statements for each.
  6. Copy of award letter from pension/retirement fund, disability insurer, etc.
  7. Names and addresses of your current employer(s) and other employers for the past two years.
  8. List of all amounts you owe, including charge and credit card account balances (include account numbers).
  9. If applicable, copy of divorce decree, property settlement and verification of child support or bankruptcy papers.
  10. Two current pay stubs covering a 30-day period.
  11. If Self-Employed: Three years of signed federal tax returns with all schedules and a year-to-date profit and loss statements.
  12. Verification of child support income, if being used to qualify.

Are You Ready for Homeownership?

Buying a home is a big decision, and not one that should be taken lightly. There’s a lot a potential homeowner must consider, including their credit history and financial situation.

Before you begin the mortgage process, we encourage you to watch the short video below to help you determine if you’re ready for homeownership.