The West Virginia Housing Development Fund issued more than $20 million in affordable mortgage loans to buyers across the state in July, a new record level that resulted in the doubling of year-over-year totals.
During July, the Fund issued 119 loans through its Homeownership Program – which are generally geared toward first-time homebuyers, those purchasing their first home in West Virginia, or those who are buying a home in targeted rural counties – for a total of $18 million. It also originated 15 Movin’ Up Program loans – which is designed for middle-income or repeat homebuyers – for a total of $2.4 million. The Fund’s mortgage loan programs are funded by tax-exempt bond sales.
“Our programs are designed to make homeownership more attainable and affordable for West Virginians,” said Jon Rogers, the Fund’s senior division manager of single-family lending. “In July alone we helped more than 100 West Virginians become first-time homeowners through our Homeownership Program, which is a testament to the strength of our programs and our ability to meet the needs of West Virginians.”
