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

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) is a forgivable loan for homebuyers in Weirton, West Virginia, administered by City of Weirton (CDBG/Housing Division), Northern Panhandle HOME Consortium administered by the City of Wheeling. The City of Weirton, a CDBG entitlement community and member of the Northern Panhandle HOME Consortium (administered by the City of Wheeling), offers a First Time Homebuyer Program providing up to $10,000 in HOME funds toward down payment and closing costs. The assistance is a deferred, interest-free, forgivable loan secured by a lien; after the borrower occupies the home as a primary residence for 5 years, the loan converts to a grant. Up to $10,000 in deferred, 0% interest, forgivable down payment and closing cost assistance; loan becomes a grant after 5 years of owner-occupancy. Funding comes from HUD HOME Investment Partnerships Program funds (Northern Panhandle HOME Consortium).

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) offers up to $10,000 in assistance. Homebuyer contribution: Borrower must contribute at least $500 of their own funds toward down payment or closing costs. The program can be combined with First mortgage financing; potentially WVHDF programs. Amounts are the program's published maximums, not an offer — City of Weirton (CDBG/Housing Division), Northern Panhandle HOME Consortium administered by the City of Wheeling determines any individual award.

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Prorated repayment if the borrower sells, transfers, or ceases to occupy as primary residence before completing the 5-year period; after 5 years the deferred loan converts to a grant. 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.

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Applicant must never have owned a home before (strict first-time homebuyer requirement). On credit, the program states: Not specified; applicant must be prequalified for mortgage financing. A homebuyer education course is required, 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). Residency requirement: Home must be a vacant single-family home under contract located within the City of Weirton jurisdiction. Strict never-owned-a-home first-time buyer requirement. $50 refundable application fee plus $500 minimum borrower contribution. Property must be a vacant single-family home in Weirton, under contract, and pass HOME inspector inspection. Income limits shown are 2024 figures from the Weirton CDBG office.

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) limits household income to 80% of the area median income, which varies by county and household size. Total annual household income must not exceed HUD Section 8 Income Limits for the Weirton/Brooke/Hancock area (~80% AMI). 2024 limits: 1-person $44,800; 2 $51,200; 3 $57,600; 4 $64,000; 5 $69,150; 6 $74,250; 7 $79,400; 8 $84,500. 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.

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) caps the purchase price as follows: Not published; subject to HOME maximum purchase price limits and lender requirements. Eligible property types include Single Family.

Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) serves homebuyers purchasing in Weirton, West Virginia.

Applications for Northern Panhandle HOME Consortium First Time Homebuyer Program (City of Weirton) go through City of Weirton (CDBG/Housing Division), Northern Panhandle HOME Consortium administered by the City of Wheeling, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply through the City of Weirton HOME Administrator; home must be under contract within the jurisdiction; subject to fund availability. 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.