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Due to a water outage, the West Virginia Housing Development Fund office in Charleston and the call center are CLOSED. We apologize for any inconvenience.

 

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**NOTE: The Low Down Home Loan is now only offered in conjunction with the Homeownership Program. As of January 2, 2024, the Low Down Home Loan offers all buyers up to $8,000 in down payment and closing cost assistance, regardless of loan-to-value ratio. For questions, please call 800-933-8511.**

The West Virginia Housing Development Fund’s Down Payment and Closing Cost Assistance Program has a new name.

The program is now known as the Low Down Home Loan, but terms haven’t changed. Homebuyers who borrow through the Fund’s Homeownership or Movin’ Up programs may still qualify help toward their down payment and closing costs, reducing financial barriers to homeownership.

“With the Low Down Home Loan, borrowers can still purchase a home with little to no money down, helping them achieve the dream of homeownership sooner while keeping more of their hard-earned money,” said Jon Rogers, Senior Division Manager of Single-Family Lending for the West Virginia Housing Development Fund. “Though the name of the program has changed, the help we offer homebuyers remains the same.”

The Low Down Home Loan is a 15-year, low-interest loan offered in conjunction with our Homeownership and Movin’ Up programs to help buyers reduce their up-front costs.

The Homeownership Program is geared primarily toward first-time homebuyers and offers a 30-year, fixed-rate mortgage for up to 100 percent of the purchase price of the home. The Low Down Home Loan offers these buyers up to $10,000 in down payment and closing cost assistance, depending on the home’s loan-to-value ratio.

The Movin’ Up Program is geared toward moderate-income buyers to help them purchase a new residence. This program does not have a first-time buyer requirement but also offers a 30-year, fixed-rate mortgage. The Low Down Home Loan can help Movin’ Up buyers with up to $8,000 in down payment and closing cost assistance, depending on the home’s loan-to-value ratio.

“The Fund’s loan programs are designed to help West Virginians at most income levels to purchase a home, and the Low Down Home Loan provides an additional boost,” Rogers said. “Someone dreaming of homeownership may struggle to save for a down payment and closing costs, but this program reduces that barrier to entry and makes homeownership much more possible for many West Virginians.”

The Fund partners with more than 60 banks, credit unions, and mortgage companies throughout the state to offer our mortgage programs, including the Low Down Home Loan. For a full list of partner lenders, visit www.wvhdf.com/lenders.

Information on all of our homebuyer programs is available at www.wvhdf.com/home-buyers.