City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming)

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) is a forgivable loan for homebuyers in Morgantown, West Virginia, administered by Fairmont-Morgantown Housing Authority (FMHA) HomeOwnership Center, in partnership with the City of Morgantown. An employer-based down payment assistance loan offered to City of Morgantown employees through the Fairmont-Morgantown Housing Authority's Morgantown Homecoming Program. FMHA's loan-options page lists the 'Employee Based Down Payment Loans (City of Morgantown)' as a currently available product. The companion WVU employee tier provides up to $5,000 at 0% interest as a forgivable loan over five years; specific terms for the City of Morgantown tier are not separately published. Forgivable employer-based down payment assistance loan for City of Morgantown employees purchasing in targeted near-campus neighborhoods. Funding comes from City of Morgantown employer-sponsored down payment funds, administered via the FMHA Morgantown Homecoming Program (not federal HOME funds).

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) offers up to $5,000 in assistance. The program can be combined with FMHA mortgage financing and other homebuyer services. Amounts are the program's published maximums, not an offer — Fairmont-Morgantown Housing Authority (FMHA) HomeOwnership Center, in partnership with the City of Morgantown determines any individual award.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Home cannot be rented and must remain the owner's primary residence; a deed restriction is imposed to keep the home owner-occupied. Loan is forgiven over the term if owner-occupancy is maintained. The assistance is recorded in Second / deed restriction position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Not specified; subject to lender requirements. A homebuyer education course is required, through FMHA HomeOwnership Center (8-hour homebuyer education class required under the Morgantown Homecoming Program). Residency requirement: Must purchase in targeted near-campus Morgantown neighborhoods (Wiles Hill, Greenmont, Woodburn, First Ward); applicant must be a City of Morgantown employee. Values shown ($5,000 / 0% / 5-year forgivable) are confirmed for the parallel WVU employee tier of the same Morgantown Homecoming Program and should be re-verified with FMHA before publishing. The WVU tier is currently OUT OF FUNDS; the City of Morgantown tier is listed without that note (currently active). Contact FMHA at 304-363-0860 to confirm.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) sets its income limit as follows: No income restrictions for the parallel WVU employee tier of the Morgantown Homecoming Program; income terms for the City of Morgantown employee tier are not separately published. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) can be used for Single Family, Townhouse, and 2-4 Unit. New construction is eligible.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) is limited to employees of City of Morgantown employees. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) serves homebuyers purchasing in Morgantown, West Virginia. The program targets specific areas: Near-campus Morgantown neighborhoods: Wiles Hill, Greenmont, Woodburn, First Ward. Targeted neighborhoods: Wiles Hill, Greenmont, Woodburn, First Ward.

Applications for City of Morgantown Employee Down Payment Assistance Program (Morgantown Homecoming) go through Fairmont-Morgantown Housing Authority (FMHA) HomeOwnership Center, in partnership with the City of Morgantown, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-ready basis subject to fund availability; apply through FMHA HomeOwnership Center. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.