Fund Executive Director says rate offers "once-in-a-lifetime opportunity"
There has never been a better time to purchase a home in West Virginia. The West Virginia Housing Development Fund is providing qualifying families a 30-year fixed rate loan at 3.125%. Zero percent down payment and closing cost assistance loans are also available for those who qualify.
“This is the best mortgage rate in the Housing Development Fund’s history and will offer borrowers rates, terms and assistance never offered before,” stated Fund Executive Director Joe Hatifield. ““We are extremely pleased with this interest rate and realize that it is a once-in-a-lifetime opportunity for qualifying West Virginia families who wish to purchase a home and realize their dream of homeownership.”
This rate was achieved as a result of a $28 million new money bond issue coupled with a $19 million bond refunding by the Housing Development Fund.
With low cost financing, down payment and closing cost assistance and homebuyer counseling, many West Virginia families may find they qualify to own a home. The funds for these low rate loans are limited and applications will be taken on a first-come, first-served basis.
Those interested in the program should contact their Realtor, builder, lending institution or the Housing Development Fund for more information about how to apply for a mortgage loan.
For more information, call the West Virginia Housing Development Fund for a mortgage information packet at 1-800-933-9843 or click here to request one.