Exploring West Virginia first time home buyer grants to purchase a home? Find the best grants/programs for home buying in West Virginia and other home mortgage grants or programs below.
So, you are considering the purchase of a home in West Virginia. Purchasing a home is an exciting experience!
Exciting and sometimes intimidating! However, don't let yourself become overwhelmed with the process.
It is my plan to give you some useful information about first time home buyer grants which will help find that needed down payment.
Receiving a grant or money saving program is like
having a stack of money given to you! I give it a two thumbs up!
To begin with, the State of West Virginia does not offer a West Virginia first time home buyer grant program for its residents.
But they do provide assistance for the down payment and closing costs. It is called the "Down Payment/Closing Cost Assistance" program. This program is a low interest loan.
You can borrow up to $10,000 when used with their homeownership program. Just remember, this is not a grant but a loan. Needless to say, if you don't have that needed down payment money, something is better than nothing.
Most programs out there are for those who are first time buyers. However, West Virginia has a program called "Movin' Up Loan Program" that is for anyone who wants to buy a home. You can use the assistance loan program for help with the closing costs as well. It allows for up to $8,000 in assistance.
Both these options are 15 year loans with low interest rates.
Another option you want to consider is the "USDA 502 Direct Loan Program." It doesn't require a down payment and reduces the monthly mortgage payment to make it very affordable. But you have to buy a home in a rural area. So depending on where you're looking for a home, this can be a cool opportunity.
As always, there are restrictions and limitations you will have to investigate. You can check out this program by clicking here.
In addition, the federal government offers grant assistance for first time home buyers in West Virginia. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.
Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.
Another website I would recommend that you view is Visit the Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.
An important thing to keep in mind, whenever using money saving programs, they take time to process. So be patient.
You may want to start saving money while you are waiting. If you don't need the money you saved, that gives you money to buy the necessary furnishings you want for your new home.
Perhaps a grant is not available in your state. Or you do not qualify for one. Don't get discouraged. If you still want to save money, check out this page that discusses the zero down payment program.
Otherwise, you may want to look at programs that have low down payment requirements.
Would you like to know what type of loans are available? Visit our Home Mortgage Information page for tons of information on all kinds of loans. Learn about FHA, VA, and various other types of options.
Would you like some help? Perhaps a personal coach to guide you through the process is what you're looking for. For free coaching, fill out the questionnaire here. Then you will be contacted and offered the assistance you seek.
So have you found a home? Are you thinking about getting qualified for a mortgage? Maybe you want to visit our page on how to qualify for a mortgage.
Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.
This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.
Please tell others about this FREE information. Everybody else on the web charges for this kind of stuff!!
Happy House Hunting!!
Go to House Buyer Solutions Home Page.
Oct 08, 19 08:33 AM
Hello, I have a question regarding USDA vs. FHA home loans. I am in the process of getting a home in the next month but was told I wouldn't be approved
Aug 05, 19 10:44 PM
Hi Help please! I am a first time home buyer, buying a home with my fiance'. He is selling his home currently on the market for $125K with no contingencies.
Apr 15, 19 12:36 PM
When buying a home out of state, should we wait for employment contracts? Or can we use our current state's bank? Find the answers here.
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