CHARLESTON — Officials at the West Virginia Housing Development Fund say the time has never been better to own a home in the Mountain State.
The West Virginia Housing Development Fund is offering qualifying homebuyers a 30-year fixed rate mortgage at 3.78 percent. Down payment and closing cost assistance loans are also available.
“Owning a home is the cornerstone of the American dream and this is a wonderful opportunity for those looking to buy in West Virginia,” Fund Executive Director Erica Boggess said. “We’re excited about this fantastic rate and we know it gives hardworking West Virginians and their families a real chance to achieve that dream.”
Boggess said the new rate comes on the heels of both Standard and Poor’s and Moody’s affirming the Fund’s credit rating. She noted that the Huffington Post also cited Fund programs as to why West Virginia is the best state for first-time homebuyers.
The new rate was achieved as a result of a $30 million bond issue. The money allocated for the program will be used specifically to help low- to moderate-income buyers.
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 with little to money down using Fund programs. The funds for these low-rate loans are limited and applications will be taken on a first-come, first-served basis.
Anyone interested in the program should contact the Fund or their lender for more information about how to apply for a loan. Visit the Fund’s website atwww.wvhdf.com for a list of participating lenders or call the Fund at 1-800-933-9843 for more information.
The West Virginia Housing Development Fund was established by the state in 1969 to increase the supply of residential housing.
To date, the Fund has issued more than $4.5 billion in tax-exempt bonds to finance more than 123,000 housing units. No tax dollars were utilized to provide this information. The West Virginia Housing Development Fund is an Equal Housing Opportunity Lender.