Northern Panhandle HOME Consortium First Time Homebuyer Program (Hancock & Brooke Counties)

Northern Panhandle HOME Consortium First Time Homebuyer Program (Hancock & Brooke Counties) is a forgivable loan for homebuyers in Hancock|Brooke County, West Virginia, administered by CHANGE, Inc. (HOME Administrator for Hancock & Brooke Counties), Northern Panhandle HOME Consortium administered by the City of Wheeling. Hancock and Brooke Counties participate in the Northern Panhandle HOME Consortium First Time Homebuyer Program (administered locally by CHANGE, Inc.), offering up to $10,000 in HOME funds toward down payment and closing costs as a deferred, 0% interest, forgivable loan. After 5 years of owner-occupancy, 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 (Hancock & Brooke Counties) 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 — CHANGE, Inc. (HOME Administrator for Hancock & Brooke Counties), Northern Panhandle HOME Consortium administered by the City of Wheeling determines any individual award.

Northern Panhandle HOME Consortium First Time Homebuyer Program (Hancock & Brooke Counties) 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 the home as a primary residence before completing the 5-year owner-occupancy 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 (Hancock & Brooke Counties) 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 Hancock or Brooke County. Strict never-owned-a-home requirement. $50 refundable application fee plus $500 minimum borrower contribution. Property must be a vacant single-family home in Hancock or Brooke County, under contract, passing HOME inspection.

Northern Panhandle HOME Consortium First Time Homebuyer Program (Hancock & Brooke Counties) 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 (Hancock & Brooke Counties) 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 (Hancock & Brooke Counties) serves homebuyers purchasing in Hancock|Brooke County, West Virginia.

Applications for Northern Panhandle HOME Consortium First Time Homebuyer Program (Hancock & Brooke Counties) go through CHANGE, Inc. (HOME Administrator for Hancock & Brooke Counties), 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 CHANGE, Inc. (HOME Administrator); home must be under contract within Hancock or Brooke County; 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.