Parkersburg/Wood County HOME Consortium Down Payment Assistance Program

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program is a forgivable loan for homebuyers in Parkersburg, West Virginia, administered by City of Parkersburg, Development Department (Parkersburg/Wood County HOME Consortium). The Parkersburg/Wood County HOME Consortium DPAP provides up to $15,000 in HOME-funded forgivable loans to first-time, low- and moderate-income homebuyers in Wood County for down payment and closing costs. The loan carries 0% interest and a 5-year term; if the buyer maintains ownership and occupancy for 5 years the loan is fully forgiven. Closing-cost assistance is capped at $2,500 of the total. Up to $15,000 forgivable. 0% interest. Forgiven after 5 years of occupancy. Covers down payment and closing costs. Funding comes from HUD HOME Investment Partnership funds via Parkersburg/Wood County HOME Consortium.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program offers up to $15,000 in assistance. Homebuyer contribution: Homebuyer must provide minimum of $500 OR 3% of total down payment and closing costs, whichever is higher; plus refundable $50 application fee. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — City of Parkersburg, Development Department (Parkersburg/Wood County HOME Consortium) determines any individual award.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, lease, transfer, or failure to occupy as primary residence before the 5-year affordability period expires; lapse of required flood insurance or failure to maintain property to code also triggers full repayment. 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.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Displaced homemaker/displaced homeowner who does not presently own a home qualifies; otherwise no prior ownership permitted. A homebuyer education course is required, through HUD-certified Housing Counselor (course completion certificate required at application). Consortium covers Wood County + cities of Parkersburg, Vienna, Williamstown. Not confirmed from source: min_credit_score. Guidelines revised September 30, 2022; page active as of 2026.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. HUD Section 8 income limits for Parkersburg MSA; effective 6/15/2022: 1-person $37,900 up to 8-person $71,450 (limits update periodically). 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.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program caps the purchase price at $144,400. Eligible property types include Single Family.

Parkersburg/Wood County HOME Consortium Down Payment Assistance Program serves homebuyers purchasing in Parkersburg, West Virginia.

Applications for Parkersburg/Wood County HOME Consortium Down Payment Assistance Program go through City of Parkersburg, Development Department (Parkersburg/Wood County HOME Consortium), which publishes the current terms and the application steps on its own site. 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.