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West Virginia Housing Development Fund announces new rate

Release from the West Virginia Housing Development Fund:

CHARLESTON, W.Va. — There has never been a better time to purchase a home in West Virginia. The West Virginia Housing Development Fund is offering qualifying homebuyers a 30-year fixed rate mortgage at 3.78%. 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,” said Fund Executive Director Erica Boggess. “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 added that this new rate comes on the heels of both Standard & Poor’s and Moody’s affirming the Fund’s exceptional 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.

This outstanding rate was achieved as a result of a $30 million bond issue by the Fund. The money allocated for this 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. Those 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 for a list of participating lenders or call the Fund at 1-800-933-9843 for more information.

The West Virginia Housing Development Fund is a public body corporate and governmental instrumentality of the State of West Virginia established 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.

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