CommunityWorks Home Purchase Loan

CommunityWorks Home Purchase Loan is a first mortgage for homebuyers in Charleston, West Virginia, administered by CommunityWorks in West Virginia, Inc. (CWWV). CommunityWorks in West Virginia, a statewide CDFI and NeighborWorks affiliate, originates affordable home purchase mortgages up to $100,000 with subsidized interest rates and terms up to 30 years for families below 80% of HUD income limits. It is designed to be combined with CWWV's down payment assistance loan to reduce upfront costs. Loans up to $100,000. Subsidized interest rates. Terms up to 30 years. Statewide CDFI lending. Combines with CWWV DPA. Funding comes from CDFI / NeighborWorks America (CWWV is a certified CDFI and NeighborWorks affiliate).

CommunityWorks Home Purchase Loan offers up to $100,000 in assistance. The program can be combined with CWWV Down Payment Assistance Loan. Amounts are the program's published maximums, not an offer — CommunityWorks in West Virginia, Inc. (CWWV) determines any individual award.

CommunityWorks Home Purchase Loan is a first mortgage and is repaid under the terms set by CommunityWorks in West Virginia, Inc. (CWWV). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CommunityWorks Home Purchase 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 and credit/DTI requirements not published online; confirm at intake. NMLS #252624. and DATA NOTES: dpa_interest_rate: Subsidized/below-market (rate not published on site).

CommunityWorks Home Purchase Loan sets its income limit as follows: Purchase loans for low- to moderate-income families below 80% of HUD income guidelines. 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 Home Purchase Loan can be used for Single Family. New construction is not eligible. Manufactured homes are not eligible.

CommunityWorks Home Purchase Loan serves homebuyers purchasing in Charleston, West Virginia.

Applications for CommunityWorks Home Purchase 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.