CommunityWorks Down Payment Assistance Loan

CommunityWorks Down Payment Assistance Loan is a repayable second loan for homebuyers in Charleston, West Virginia, administered by CommunityWorks in West Virginia, Inc. (CWWV). CommunityWorks in West Virginia, a statewide certified CDFI and NeighborWorks affiliate, offers down payment assistance loans of up to $30,000 with terms up to 30 years to low- and moderate-income buyers (below 80% of HUD income limits). The DPA loan helps cover the initial down payment barrier and is typically paired with CWWV's own Home Purchase Loan. Homebuyer education through eHome America is required. Up to $30,000 DPA. Terms up to 30 years. Statewide availability. Pairs with CWWV first mortgage. HUD-certified housing counseling. Funding comes from CDFI / NeighborWorks America (CWWV is a certified CDFI and NeighborWorks affiliate).

CommunityWorks Down Payment Assistance Loan offers up to $30,000 in assistance. The program can be combined with CWWV Home Purchase Loan or other first mortgages. Amounts are the program's published maximums, not an offer — CommunityWorks in West Virginia, Inc. (CWWV) determines any individual award.

CommunityWorks Down Payment Assistance Loan is a repayable second loan and is repaid under the terms set by CommunityWorks in West Virginia, Inc. (CWWV). Repayment is triggered by Amortizing monthly payments over term. 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.

CommunityWorks Down Payment Assistance Loan is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through eHome America (CWWV's signature Homebuyer Education course, $99). Residency requirement: West Virginia (statewide service area). Interest rate, exact repayment structure, lien position and max purchase price are not published on the official site and should be confirmed with CWWV at intake. $100 course fee referenced in counseling materials; First-Time-Homebuyer page lists $99 eHome America course. and DATA NOTES: dpa_interest_rate: Subsidized/below-market (rate not published on site).

CommunityWorks Down Payment Assistance Loan sets its income limit as follows: Borrowers must be below 80% of HUD income guidelines for household size; uses HUD HOME income limits. 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.

CommunityWorks Down Payment Assistance Loan caps the purchase price as follows: Not published; tied to CWWV underwriting. Eligible property types include Single Family. New construction is not eligible. Manufactured homes are not eligible.

CommunityWorks Down Payment Assistance Loan serves homebuyers purchasing in Charleston, West Virginia.

Applications for CommunityWorks Down Payment Assistance Loan go through CommunityWorks in West Virginia, Inc. (CWWV), 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.