ALL
PROPERTIES
AGENTS
OFFICES
RESOURCES
SEARCHES
RECENTLY RATED
Learn
W.Va. launches new 3.5 percent mortgage program
05-26-2011
CHARLESTON, W.Va. (AP) — The West Virginia Housing Development Fund announced Tuesday a new mortgage program where 280 families can qualify for the fund's lowest interest rate in its history - 3.5 percent.
The program also includes a 30-year fixed-rate loan with zero percent down payment. The program also offers closing cost assistance loans, said Gov. Joe Manchin and fund Executive Director Joe Hatfield.
Financing for the program comes from the sale of $35 million in bonds and a special bond refunding.
Hatfield called the program a "once-in-a-lifetime opportunity" for first-time home buyers living in the fund's 20 non-targeted counties. A first-time buyer is someone who hasn't lived in an owner-occupied house for the past three years.
The counties are Barbour, Berkeley, Boone, Brooke, Cabell, Greenbrier, Hancock, Harrison, Jefferson, Kanawha, Marion, Marshall, Mason, Mercer, Monongalia, Morgan, Ohio, Putnam, Raleigh and Wood.
The program covers new or existing houses, duplexes, townhouses and new doublewide mobile/manufactured homes. It does not cover new or used single- and used doublewide homes.
Applications will be taken at banks, mortgage brokers and credit unions.
Copyright 2010 The Associated Press.
The program also includes a 30-year fixed-rate loan with zero percent down payment. The program also offers closing cost assistance loans, said Gov. Joe Manchin and fund Executive Director Joe Hatfield.
Financing for the program comes from the sale of $35 million in bonds and a special bond refunding.
Hatfield called the program a "once-in-a-lifetime opportunity" for first-time home buyers living in the fund's 20 non-targeted counties. A first-time buyer is someone who hasn't lived in an owner-occupied house for the past three years.
The counties are Barbour, Berkeley, Boone, Brooke, Cabell, Greenbrier, Hancock, Harrison, Jefferson, Kanawha, Marion, Marshall, Mason, Mercer, Monongalia, Morgan, Ohio, Putnam, Raleigh and Wood.
The program covers new or existing houses, duplexes, townhouses and new doublewide mobile/manufactured homes. It does not cover new or used single- and used doublewide homes.
Applications will be taken at banks, mortgage brokers and credit unions.
Copyright 2010 The Associated Press.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
Coldwell Banker Real Estate LLC will never sell or provide information to a third party without your
prior consent.
Click here to see our full Privacy Policy and Terms and Conditions of Use
Click here to see our full Privacy Policy and Terms and Conditions of Use
Top Tools
close