Home Buyers

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: Natalie Wilson

Natalie Wilson is a Morgantown mom and small business owner who recently went through a divorce. In the process, she lost her house. After renting for a few years, Natalie realized she wanted to be a homeowner and worked one of the Fund’s experienced Partner Lenders to get the ball rolling. Now, Natalie is the proud owner of a townhome big enough for her and her two teens and, thanks to a Homeowners Association, she doesn’t have to worry about maintenance. 

“I would recommend anybody who is a first-time home buyer to look at the Fund,” Natalie said. “For me, as a single mom and business owner, this was the only option I would even consider. This was my biggest accomplishment at 52 years old, other than having my children, that I’ve done on my own. This means a lot to my pride to say that I have bought something that is just mine.”

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

Programs for Homebuyers

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 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 to complete the loan application. Your lender may request the following:

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.