HOME Investment Partnership Program - FTHB Program

HOME Investment Partnership Program - FTHB Program is a forgivable loan for homebuyers in Wheeling, West Virginia. Wheeling/Northern Panhandle HOME Consortium HUD HOME-funded FTHB forgivable second mortgage up to $14,999, 5-year forgiveness, 80% AMI. First-time homebuyers only. Ohio/Marshall/Brooke/Hancock counties. City of Wheeling / Northern Panhandle HOME Consortium First-Time Homebuyer (FTHB) Program provides a deferred 0% forgivable second mortgage up to $14,999 for down payment and closing-cost assistance. Serves Ohio, Marshall, Brooke, and Hancock counties (Northern Panhandle of WV). HUD HOME-funded. Forgiven over 5 years of continuous owner-occupancy (20% per year per HUD HOME 24 CFR 92.254). No monthly payment. If borrower sells/refinances/vacates within 5 years, unforgiven balance is due. 80% AMI limit ($45,150 1p - $85,150 8p per 2024-25 HUD AMI for Wheeling MSA). Purchase price up to $144,400 (HUD HOME 95% area median for Wheeling, WV-OH MSA). HUD-approved housing counseling required. Property must pass HQS inspection. Funding comes from Federal and HOME.

HOME Investment Partnership Program - FTHB Program is forgiven after 5 years, so a homebuyer 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.

HOME Investment Partnership Program - FTHB Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer required (no primary residence ownership in past 3 years). Standard HUD HOME exception for displaced homemakers and single parents. On credit, the program states: 620 minimum FICO typical (verify with first-mortgage lender). A homebuyer education course is required, through HUD-approved housing counseling required. Local providers include YWCA Wheeling and Northern Panhandle Regional Planning & Development Council. Residency requirement: Property must be located in Ohio, Marshall, Brooke, or Hancock County, WV (Northern Panhandle HOME Consortium service area). 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 Ohio, Marshall, Brooke, or Hancock 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.

HOME Investment Partnership Program - FTHB Program 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 Wheeling, WV-OH MSA. 2024-25 limits: $45,150 (1p), $51,600 (2p), $58,050 (3p), $64,500 (4p), $69,700 (5p), $74,850 (6p), $80,000 (7p), $85,150 (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.

HOME Investment Partnership Program - FTHB Program 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.

HOME Investment Partnership Program - FTHB Program 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.

HOME Investment Partnership Program - FTHB Program serves homebuyers purchasing in Wheeling, West Virginia.

Applications for HOME Investment Partnership Program - FTHB Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Direct application to City of Wheeling Community Development. First-come, first-served subject to annual HOME allocation. 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.