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Down Payment Assistance Program (DPAP)

Parkersburg, West Virginia

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Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$144,400

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is Down Payment Assistance Program (DPAP)?

Down Payment Assistance Program (DPAP) is a forgivable loan for homebuyers in Parkersburg, West Virginia.

  • City of Parkersburg / Wood County HOME Consortium HUD HOME-funded DPAP forgivable second mortgage up to $14,999, 5-year forgiveness, 80% AMI. First-time homebuyers only. Wood County.
  • City of Parkersburg / Wood County HOME Consortium Down Payment Assistance Program (DPAP) provides a deferred 0% forgivable second mortgage up to $14,999 for down payment and closing-cost assistance to first-time homebuyers in the City of Parkersburg and Wood County, WV. HUD HOME-funded. Forgiven over 5 years of continuous owner-occupancy (20% per year per HUD HOME 24 CFR 92.254 - assistance under $15K = 5-year affordability period). No monthly payment. If borrower sells/refinances/vacates within 5 years, unforgiven balance is due. 80% AMI limit ($37,900 1p - $71,450 8p per 2024-25 HUD AMI for Parkersburg-Vienna MSA). Purchase price up to $144,400 (HUD HOME 95% area median for Parkersburg-Vienna MSA). HUD-approved housing counseling required. Property must pass HQS inspection.
  • Funding comes from Federal and HOME.

Do you have to pay it back?

Down Payment Assistance Program (DPAP) is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 0% deferred forgivable second mortgage. Forgiven 20% per year over 5 years of continuous owner-occupancy. Unforgiven balance due in full on sale, refinance, transfer, or non-owner-occupancy during 5-year affordability period. No monthly payment.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Down Payment Assistance Program (DPAP) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time homebuyer required (no primary residence ownership in past 3 years). Standard HUD HOME exception for displaced homemakers and single parents.
  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO typical (verify with first-mortgage lender).
  • A completed homebuyer education course, through HUD-approved housing counseling required. Local providers include Mid-Ohio Valley Regional Council and Homeownership Center Inc (HOC).
  • Residency: Property must be located in City of Parkersburg or Wood County, WV.
  • Citizenship or immigration status: U.S. citizen or qualifying lawful permanent resident.
  • First-time homebuyer (no primary residence ownership in past 3 years). Property must be located in City of Parkersburg or Wood County, WV. Owner-occupied primary residence. Income at or below 80% HUD AMI. Maximum 45% DTI. HUD-approved homebuyer education required. Minimum borrower contribution of $1,000 from own funds. Property must pass HQS inspection.

The program excludes

  • Manufactured homes
  • Purchases above the $144,400 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Down Payment Assistance Program (DPAP) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% HUD Area Median Income (AMI) for Parkersburg-Vienna MSA. 2024-25 limits: $37,900 (1p), $43,300 (2p), $48,700 (3p), $54,100 (4p), $58,450 (5p), $62,800 (6p), $67,100 (7p), $71,450 (8p).
  • 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?

Down Payment Assistance Program (DPAP) caps the purchase price at $144,400.

  • Eligible property types include Single-family detached, condominium, townhouse, PUD. Per first-mortgage overlays.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Is there eligibility for specific groups?

Down Payment Assistance Program (DPAP) names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Down Payment Assistance Program (DPAP) serves buyers purchasing in Parkersburg, West Virginia.

How do you apply?

Applications for Down Payment Assistance Program (DPAP) go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling required. Local providers include Mid-Ohio Valley Regional Council and Homeownership Center Inc (HOC)..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Direct application to City of Parkersburg Department of Development. First-come, first-served subject to annual HOME allocation., and are subject to availability.

  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.

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