Down Payment Path

Down Payment Assistance Programs in West Virginia

West Virginia provides several programs designed to assist homebuyers with down payments and closing costs. These programs are available to both first-time and repeat buyers, helping make homeownership more accessible throughout the state.

West Virginia Housing Development Fund (WVHDF) Homeownership Assistance Program

The Homeownership Assistance Program, offered by the West Virginia Housing Development Fund (WVHDF), provides financial support to help buyers with upfront costs.

  • Offers up to 4% of the loan amount for down payment and closing cost assistance.
  • Assistance is provided as a second mortgage with low or no interest, and payments are deferred until the home is sold or refinanced.
  • Pairs with WVHDF’s fixed-rate mortgage options, including FHA, VA, USDA, and conventional loans.
  • Open to eligible buyers who meet income and purchase price requirements.

West Virginia Veterans Home Loan Program

The West Virginia Veterans Home Loan Program is tailored to provide support for military personnel and veterans seeking to purchase a home.

  • Offers favorable terms on mortgages, including reduced interest rates and down payment assistance.
  • Provides up to $7,500 in down payment and closing cost assistance for veterans, active duty service members, and surviving spouses.
  • Assistance is offered as a forgivable loan with no repayment required if the buyer remains in the home for a set period.

USDA Rural Development Loans

For buyers in rural areas of West Virginia, the USDA Rural Development Loan provides no down payment financing options.

  • Open to low- and moderate-income buyers in USDA-designated rural areas.
  • Offers competitive interest rates and flexible credit requirements.
  • Can be combined with WVHDF assistance programs to cover closing costs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program helps homebuyers reduce the long-term cost of homeownership by providing a tax credit for a portion of their mortgage interest.

  • Allows buyers to claim a federal tax credit based on a percentage of their annual mortgage interest.
  • Can be paired with WVHDF loans and down payment assistance programs.
  • Income and purchase price limits apply, but the program is accessible to a wide range of buyers.

Local Assistance Programs

Many cities and counties in West Virginia provide additional support for homebuyers through grants or low-interest loans to help with down payments and closing costs.

  • Programs in areas like Charleston, Morgantown, and Huntington may offer grants, targeted assistance for specific groups, or reduced mortgage terms for buyers in revitalization zones or those working in essential public service roles.
  • Eligibility and funding levels vary depending on the location and the specific program.

West Virginia’s down payment assistance programs are designed to make homeownership more affordable by reducing upfront costs. Whether you are purchasing your first home or upgrading, these programs can help you achieve your goal of homeownership in the Mountain State.