HomeBuyer Mortgage Financing
Fairmont-Morgantown Housing Authority Homeownership Department offers various affordable housing mortgage products. FMHA has products to meet every income level. Creative and unique financing options are available.
Call for details - 304.363.8060 x105
Offered in cooperation with WVHDF. This product is established for families up to 80% of statewide median income (see chart linked below). Applicants screened for eligibility based on income and credit. House payment is based on a percentage of gross annual income. Taxes and insurance are escrowed monthly with payment. House limits apply.
The 2012 program offers 2 different categories for HOME funding.
- HOME Leverage - Eligible applicants could qualify for the lesser of 20% of the purchase price or appraised value up to $20,000 at zero percent interest when leveraged with another funding source. Restrictions and income limits apply. Call for more details or email.
- New HOME -Currently taking applications
Up to 100% Financing available for eligible applicants below 80% of the area median income. Some Deferred payment loans may be available to qualified borrowers. Income restrictions and property restrictions apply. Homebuyer Education is required.
Download Zero % Interest Flyer.
Now processing Rural Development 502 Direct loans, an affordable mortgage program for eligible borrowers, below 80% of the area median income.
An affordable mortgage option. Call for details and availability.
WVHDF Bond Loan
Also known as QMRB (Qualified Mortgage Revenue Bond). In cooperation with WVHDF, this product is available for income eligible participants. Affordability is determined by income. Applicants are approved based on various underwriting criteria. Some restrictions apply. Learn more...
Call or email for info -Christal Crouso, 304-363-0860 x105 or firstname.lastname@example.org
Down Payment Programs:
- CDBG Down Payment Program
Grant funds are currently available for down payment funds for new homebuyers at or below 80% of the area median income who are purchasing a home in the city limits of Morgantown.
Call Amy Hammond, 304-363-0860 x121, for details.
Download more information here.
- City of Morgantown Down Payment Program
Funds may be available for Morgantown City Employees. Call Christal, 304-363-0860 x105, for program details. Find out more!
- Federation of Appalachian Housing Enterprise (FAHE)
- Download Affordable Financing for Home Repairs
- Income Chart 2013 HOME Guidelines