Multifamily Lending Policy – Part of the West Virginia Housing Development Fund’s mission is to provide financing for affordable housing, including residential rental and multi-family housing. To offer guidance and direction, we have put together a detailed manual to help developers understand our policies and procedures relating to portfolio diversification, related parties and eligible participants.

Multifamily Lending Policy

Affordable Housing Fund – This program provides funding for both technical assistance and housing assistance to non-profits and government entities and to encourage stronger partnerships, collaboration and greater involvement of local communities in meeting housing needs in West Virginia

Home4Good – A newly-created program developed by the Federal Home Loan Bank Pittsburgh and the West Virginia Housing Development Fund developed to address homelessness.

The HOME Program – The primary objective of the HOME program is to expand the supply of decent, safe, sanitary and affordable housing, primarily rental housing; to strengthen the abilities of state and local governments to provide housing; to ensure that federal housing services, financing, and other investments are provided to state and local governments in a coordinated, supportive fashion; to expand the capacity of nonprofit community-based housing development organizations; and to leverage private sector participation in financing affordable housing.

LAMP – The LAMP Program provides Habitat for Humanity organizations in West Virginia a funding source for selling both new and existing single family Habitat mortgages to the Fund to assist in raising funds for constructing additional affordable housing.

Multifamily Loan Program  – Provides construction and/or permanent financing for new multifamily rental developments or those requiring acquisition and rehabilitation.

Low-Income Housing Tax Credit Program (LIHTCP) – Generates low-income residential rental units by encouraging private investment through federal tax credits.

National Housing Trust Fund Program –  A federal program administered by the Fund to increase and preserve the supply of decent, safe, sanitary and affordable housing, with primary attention to rental housing for extremely low-income and very low-income households, including homeless families.

New Construction Financing Program – Encourages builders to construct and market single family homes.

On-Site Septic Systems Loan Program – This program is designed to help eligible households repair or replace on-site septic systems or connect to a public treatment system.

Rebuild West Virginia – An affordable loan initiative to help those whose homes were damaged or destroyed by high water.

Special Assistance Lending Program (SALP) – A multi-purpose finance program designed to provide financial assistance to organizations engaged in the development and operation of programs and properties to improve housing opportunities and promote the general welfare of low-income and special needs populations. SALP funding will now be awarded on an RFP basis.

West Virginia Property Rescue Initiative – Provides cities and counties with resources to acquire and remove dilapidated properties from their communities.