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

What is 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.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD HOME Investment Partnership funds via WV Northern Panhandle HOME Consortium.

How much assistance does it provide?

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) offers up to $10,000 in assistance.

• Buyer 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.

Do you have to pay it back?

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is forgiven after 5 years, so a buyer 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.

Who qualifies?

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) can be used for Single Family.

Where does it apply?

City of Wheeling First-Time Homebuyer Program (Northern Panhandle HOME Consortium) is a federal program, so it is not limited to West Virginia.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, 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).

2. 2

   Contact City of Wheeling, Economic & Community Development (lead agency for WV Northern Panhandle HOME Consortium) to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.