First-Time Home Buyer Programs in West Virginia

West Virginia Housing Development Fund (WVHDF) Programs:

Homeownership Program:

Eligibility: Targets first-time homebuyers (no homeownership in the past three years), veterans, or buyers in targeted areas (e.g., qualified census tracts); eligible properties include single-family homes, condos, townhomes, or manufactured homes on permanent foundations.
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) with below-market rates; can be paired with down payment assistance or Mortgage Credit Certificate (MCC).
Requirements:

• Income must not exceed $109,900 for a 1-2 person household or $128,200 for 3 or more (higher in targeted areas, e.g., $131,880 in Kanawha County).
• Minimum credit score of 620 (640 for conventional, 680 for streamlined processing).
• Debt-to-income ratio capped at 45% (50% with compensating factors).
• Homebuyer education course (6-8 hours, free through WVHDF or ~$50-$75 online) required.
• Purchase price limit of $453,100 (non-targeted areas) or $553,790 (targeted areas).
• Minimum borrower contribution of $1,000 plus one month’s housing cost reserves for conventional loans.

Learn more about Homeownership Program

Down Payment and Closing Cost Assistance:

Benefits: Offers up to $10,000 as a forgivable second mortgage (forgiven after 7 years if home remains owner-occupied) or $7,500 as a 0% interest, no-monthly-payment second mortgage (repayable upon sale, refinance, or after 30 years) for down payment and closing costs.
Eligibility: Must use a WVHDF first mortgage; income capped at 100% AMI (e.g., $74,100 for a family of four in Kanawha County); homebuyer education required.

Learn more about Down Payment and Closing Cost Assistance

MOVR Program:

Description: Provides up to $20,000 as a forgivable second mortgage (forgiven after 7 years) for down payment and closing costs; targets first-time buyers relocating to West Virginia from out-of-state or returning after 5+ years away.
Requirements: Income capped at 80% AMI (e.g., $59,300 for a family of four in Monongalia County); minimum credit score of 620; homebuyer education required; proof of relocation required; must pair with a WVHDF first mortgage.

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Homeownership Program Heroes Initiative:

Description: Offers a 0.25% interest rate reduction on WVHDF first mortgages and up to $10,000 in down payment/closing cost assistance (forgivable after 7 years) for teachers, police officers, firefighters, EMS workers, active military, or veterans.
Requirements: Same income and purchase price limits as Homeownership Program; minimum credit score of 620; homebuyer education required; proof of eligible occupation or military service required.

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Local Programs:

Charleston

Charleston Down Payment Assistance: Offers up to $20,000 as a 0% interest, deferred loan (repayable upon sale or refinance) for first-time buyers; income at or below 80% AMI (e.g., $59,300 for a family of four in Kanawha County); purchase price limited to $300,000; requires $1,000 contribution and homebuyer education.

Learn more about Charleston Down Payment Assistance

Huntington

Huntington First-Time Homebuyer Program: Offers up to $15,000 as a forgivable loan (forgiven after 7 years) for first-time buyers in targeted revitalization areas; income at or below 80% AMI (e.g., $56,800 for a family of four in Cabell County); purchase price limited to $250,000; requires $500 contribution and homebuyer education.

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Morgantown

Morgantown Homebuyer Assistance: Offers up to $12,000 as a 0% interest, deferred loan (repayable upon sale or refinance) for first-time buyers; income at or below 80% AMI (e.g., $59,300 for a family of four in Monongalia County); purchase price limited to $300,000; requires $1,000 contribution and homebuyer education.

Learn more about Morgantown Homebuyer Assistance

Parkersburg

Parkersburg Homebuyer Assistance: Offers up to $10,000 as a forgivable loan (forgiven after 7 years) for first-time buyers; income at or below 80% AMI (e.g., $56,800 for a family of four in Wood County); purchase price limited to $250,000; requires homebuyer education.

Learn more about Parkersburg Homebuyer Assistance

Additional Information:

• Mortgage Credit Certificate (MCC): Provides a federal tax credit of up to 40% of annual mortgage interest (max $2,000 yearly) for first-time buyers or buyers in targeted areas; fee of $750 ($350 with WVHDF mortgage) applies; recapture tax may apply if sold within 9 years.
• FHA Loans: Minimum 3.5% down payment, suitable for credit scores as low as 580 (10% if below 580).
• USDA Loans: Zero-down payment for rural West Virginia areas; income limits apply.
• VA Loans: Zero-down payment for eligible veterans or active military; no PMI; flexible credit requirements.
• Median Home Price: $199,900 (February 2025); median down payment: $11,994 (6% of median price).

Explore additional HUD homeownership resources