Fairmont/Morgantown Housing Authority

Program Overview

Fairmont/Morgantown Housing Authority Homeownership Department offers various affordable housing mortgage products. These products are designed to assist low to moderate income families achieve the dream of homeownership.

Mortgage Products

HOME Program is a federally funded program administered by WVHDF, that assists low-income families with affordable financing packages. Applicants are screened for eligibility based on income and credit and are put on a waiting list.

100% of the mortgage can be financed to families at or below 65% of median income (see below). House size and price limits apply.

20% (or $21,000, which ever is less) of the mortgage can be financed to families from 66-80% of median income in the form of a leveraged 2nd loan. The leverage portion of the mortgage is forgivable if the borrower occupies the property for 10 years.

Please call the Homeownership Center for more details.

HOME Program Income Limits (2005)

MARION COUNTY	Household Size	Income Limit	Household Size	Income Limit
	1	$25,650	4	$36,650
	2	$29,300	5	$39,550
	3	$33,000	6	$42,500

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MONONGALIA COUNTY	Household Size	Income Limit	Household Size	Income Limit
	1	$30,350	4	$43,350
	2	$34,700	5	$46,850
	3	$39,000	6	$50,300

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PRESTON COUNTY	Household Size	Income Limit	Household Size	Income Limit
	1	$22,900	4	$32,700
	2	$26,200	5	$35,350
	3	$29,450	6	$37,950

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TAYLOR COUNTY	Household Size	Income Limit	Household Size	Income Limit
	1	$22,750	4	$32,500
	2	$26,000	5	$35,100
	3	$29,250	6	$37,700