July 31, 2010
Housing Development Fund Continues to Open Doors for Families
From The Governor’s Desk
A weekly column by Gov. Joe Manchin
This week, I was so pleased to join members of the West Virginia Housing Development Fund, mortgage lenders, and representatives from the West Virginia Association of Homebuilders and other stakeholders from the housing industry to announce a very significant program that I am confident will benefit hundreds of potential West Virginia homeowners.
Thanks to the diligent efforts of the West Virginia Housing Development Fund, a $35 million bond issue will provide mortgages to qualifying West Virginians at 3.5 percent for 30 years. This new mortgage program presents a terrific opportunity for potential homebuyers and is the lowest mortgage rate that the West Virginia Housing Development Fund has ever offered.
The bonds which helped this program materialize received a ‘AAA’ rating by Moody’s and Standard & Poor’s. The West Virginia Housing Development Fund is still the only state housing agency with this rating in the nation. The Fund has acted prudently in recent years and their focus is paying off.
The mortgages can be matched with the Fund Home Ownership Assistance Program to help with down payments and closing costs (up to $15,000). All mortgage types are accepted (FHA, VA, Rural Development and Private Mortgage Insurance) which encompasses the whole array of housing in West Virginia.
The loans now being offered may be used for new construction, existing dwellings or new manufactured, multi-sectional housing. Importantly, this new mortgage program will help the housing economy and put West Virginians to work.
Housing Development Fund Executive Director Joe Hatfield said that the Fund was extremely pleased with this interest rate and that it is a once-in-a-lifetime opportunity for 280 qualifying West Virginia families who can now realize their dream of homeownership.
I appreciate the West Virginia Housing Development Fund and its board of directors for continuously stepping to the plate to provide our citizens with opportunities. The Housing Fund has been steadfast over the years; they have kept the focus on the needs of our citizens and found ways to get the job done despite a challenging national economy. West Virginia housing officials have strived to increase home ownership and I believe this new program will help continue that mission.
Citizens who are interested in the program should contact their realtor, builder, lending institution or the Housing Development Fund for more information about how to apply for a mortgage loan, income and house price limits and targeted/non-targeted county information.
Visit the Housing Development Fund’s website at www.wvhdf.com or call at 800-933-9843.
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Housing Development Fund Continues to Open Doors for Families
From The Governor’s Desk
A weekly column by Gov. Joe Manchin
This week, I was so pleased to join members of the West Virginia Housing Development Fund, mortgage lenders, and representatives from the West Virginia Association of Homebuilders and other stakeholders from the housing industry to announce a very significant program that I am confident will benefit hundreds of potential West Virginia homeowners.
Thanks to the diligent efforts of the West Virginia Housing Development Fund, a $35 million bond issue will provide mortgages to qualifying West Virginians at 3.5 percent for 30 years. This new mortgage program presents a terrific opportunity for potential homebuyers and is the lowest mortgage rate that the West Virginia Housing Development Fund has ever offered.
The bonds which helped this program materialize received a ‘AAA’ rating by Moody’s and Standard & Poor’s. The West Virginia Housing Development Fund is still the only state housing agency with this rating in the nation. The Fund has acted prudently in recent years and their focus is paying off.
The mortgages can be matched with the Fund Home Ownership Assistance Program to help with down payments and closing costs (up to $15,000). All mortgage types are accepted (FHA, VA, Rural Development and Private Mortgage Insurance) which encompasses the whole array of housing in West Virginia.
The loans now being offered may be used for new construction, existing dwellings or new manufactured, multi-sectional housing. Importantly, this new mortgage program will help the housing economy and put West Virginians to work.
Housing Development Fund Executive Director Joe Hatfield said that the Fund was extremely pleased with this interest rate and that it is a once-in-a-lifetime opportunity for 280 qualifying West Virginia families who can now realize their dream of homeownership.
I appreciate the West Virginia Housing Development Fund and its board of directors for continuously stepping to the plate to provide our citizens with opportunities. The Housing Fund has been steadfast over the years; they have kept the focus on the needs of our citizens and found ways to get the job done despite a challenging national economy. West Virginia housing officials have strived to increase home ownership and I believe this new program will help continue that mission.
Citizens who are interested in the program should contact their realtor, builder, lending institution or the Housing Development Fund for more information about how to apply for a mortgage loan, income and house price limits and targeted/non-targeted county information.
Visit the Housing Development Fund’s website at www.wvhdf.com or call at 800-933-9843.
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