City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium)

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is a forgivable loan for homebuyers in Wheeling, West Virginia, administered by City of Wheeling, Economic & Community Development (lead agency for WV Northern Panhandle HOME Consortium). Through the WV Northern Panhandle HOME Consortium (lead agency City of Wheeling), the First-Time Homebuyer Program loans up to $10,000 to qualified buyers in the City of Wheeling and Ohio County for down payment and closing costs. The loan is deferred, interest-free, and forgivable; after the borrower occupies the home as a primary residence for 5 years the loan becomes a grant. Requires a 640 minimum credit score and completion of a HUD housing counseling course. Up to $10,000. 0% interest. Forgiven after 5 years. Down payment and closing costs. Funding comes from HUD HOME Investment Partnership funds via WV Northern Panhandle HOME Consortium.

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) offers up to $10,000 in assistance. Homebuyer contribution: At least $500 out of pocket toward down payment or closing costs; plus refundable $50 application fee. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — City of Wheeling, Economic & Community Development (lead agency for WV Northern Panhandle HOME Consortium) determines any individual award.

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Failure to occupy as primary residence for at least 5 years; loan is deferred/forgivable and becomes a grant at end of 5 years. The assistance is recorded in second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: None - applicant must never have owned a home before. The program lists a minimum credit score of 640. A homebuyer education course is required, through CHIP (304-233-0953); CHANGE, Inc. (304-797-7733); Family Service Credit Counseling (304-232-6733); Community Action Commission of Belmont County (740-695-0293). Covers City of Wheeling and Ohio County, NOT among the 3 Northern Panhandle jurisdictions already in catalog (Weirton, Hancock & Brooke, Marshall County). Income limits differ slightly by sub-area.

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) limits household income to 80% of the area median income, which varies by county and household size. HUD Section 8 income limits effective 6/1/2024 for City of Wheeling/Ohio County/Marshall County: 1-person $45,150 up to 8-person $85,150. The limit applies to total household income, not only the borrower’s. 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 Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) can be used for Single Family.

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) serves homebuyers purchasing in Wheeling, West Virginia.

Applications for City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) go through City of Wheeling, Economic & Community Development (lead agency for WV Northern Panhandle HOME Consortium), which publishes the current terms and the application steps on its own site. 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.