Northern Panhandle HOME Consortium First Time Homebuyer Program (Marshall County)

Northern Panhandle HOME Consortium First Time Homebuyer Program (Marshall County) is a forgivable loan for homebuyers in Marshall County, West Virginia, administered by Marshall County HOME Administrator, Northern Panhandle HOME Consortium administered by the City of Wheeling. Marshall County participates in the Northern Panhandle HOME Consortium First Time Homebuyer Program, 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 (Marshall County) 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 — Marshall County HOME Administrator, Northern Panhandle HOME Consortium administered by the City of Wheeling determines any individual award.

Northern Panhandle HOME Consortium First Time Homebuyer Program (Marshall County) 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 (Marshall County) 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 Marshall 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 Marshall County, under contract, passing HOME inspection. Posted income limits are outdated (2008); current-year HUD Section 8 limits must be re-verified before publishing.

Northern Panhandle HOME Consortium First Time Homebuyer Program (Marshall County) 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 Wheeling/Ohio/Marshall County area (~80% AMI). Current-year limits must be confirmed; only outdated 2008 figures are posted on the Wheeling site. 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 (Marshall County) 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 (Marshall County) serves homebuyers purchasing in Marshall County, West Virginia.

Applications for Northern Panhandle HOME Consortium First Time Homebuyer Program (Marshall County) go through Marshall County HOME Administrator, 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 Marshall County HOME Administrator; home must be under contract within Marshall 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.