West Virginia July 2010 – Looking for cheap mortgage interest rates for buying a home as a first time home buyer in West Virginia?
If you are, then the West Virginia Housing Development Fund has a great low interest rate that nearly 300 West Virginia families will have an opportunity to obtain.
The cheap mortgage interest rate is about 3.5% and is the lowest rate that the West Virginia Housing Development Fund has ever offered.
If you are buying a home as a first time home buyer you meet certain eligibility requirements such as qualify for a mortgage, credit, income, and the home you purchase must not exceed a certain price limit. Income limits and home price limits are determined by the county and metropolitan area where you are looking to purchase. Officially, you must be buying a home in a non economic development targeted area. For this information interested homebuyers should consult with the WVHDF website (see below).
As with other West Virginia down payment assistance and first time home buyer programs, interest families and mortgage applicants will need to apply and qualify for their mortgage through a participating lender. This information is also found on the WVHDF website (see below).
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 their realtor, builder, lending institution or the Housing Development Fund for more information. The West Virginia Housing Development Fund website is found here: WVHDF.com.