Homeownership Interest Rate for October 24, 2017:
4.00% (APR: 4.480%)

Header Menu

August 16, 2017
The West Virginia Housing Development Fund is proud to announce the promotion of two long-time employees.   Crystal Toney will be...
August 9, 2017
CROSS LANES – As of Monday, there is one less blighted, dangerous building in Kanawha County.   It took about 20 minutes for a large...
June 1, 2017
Most know the West Virginia Housing Development Fund through our home-buying programs. One in 10 West Virginia homebuyers have entrusted us...
April 25, 2017
The West Virginia Housing Development Fund’s Board of Directors has approved a loan to the Kanawha County Commission to help take down...
April 18, 2017
  Erica L. Boggess has been named Executive Director of the West Virginia Housing Development Fund.     Boggess, who has...
March 30, 2017
A message to our customers:   Here at the Fund, we are proud of what we do. We are honored by the fact that so many West Virginians...
February 14, 2017
We are pleased to present the West Virginia Housing Development Fund’s Fiscal Year 2016 Annual Report. This is an important record of...
January 26, 2017
  The West Virginia Housing Development Fund is excited to welcome Governor Jim Justice and Agriculture Commissioner Kent Leonhardt...
October 6, 2016
          Standard & Poor’s Rating Service has once again affirmed West Virginia Housing...
August 25, 2016
  To assist those affected by flooding in towns and communities across our state, the West Virginia Housing Development Fund...

USDA 502 Direct Loan Program

The Fund is excited to now offer, direct to potential homebuyers, the USDA 502 Direct Loan Program.

 

This program helps low- and very-low-income applicants in federally-determined rural areas of the state obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. This payment assistance is a type of subsidy that reduces the mortgage payment. The amount of assistance is determined by the adjusted family income.

 

A number of factors are considered when determining an applicant’s eligibility for this loan. At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt.

 

This is a zero down payment loan. 

 

Program Fact Sheet

 

Program Forms & Resources

 

Interest Rates - Effective Jan. 1, 2017, the current interest rate for USDA 502 Direct Loan Program is 3.25% for low and very low income borrowers.

 

For specific information about this program, we ask that you call our Single Family Loan Origination Department at 1-800-933-8511.

 

The West Virginia Housing Development Fund is the state's affordable mortgage finance agency.

The WVHDF was established to develop and improve the state's housing opportunities for residents.