Program Description

New homes are being developed in Marion and Monongalia Counties. Program is currently at capacity. Interested parties can apply to waiting list. Fairmont/Morgantown Housing Authority Homeownership Program was established in 1994 to meet the Marion and Monongalia Counties needs for affordable housing for low to moderate income families. The Lease-To-Own Homeownership Program is a lease to purchase arrangement that provides an opportunity for families to own their own home within a two-year period. Families enter into a lease from a property owned by the Housing Authority. Within 18 months, the family becomes mortgage ready and enters into a permanent mortgage. Families rent calculation is based on 30% of their adjusted annual income. Each month 50% of monthly rent amount is placed in an escrow account to assist family with saving for down payment. A silent second mortgage is available to make the home affordable.

How Do I Qualify?

Families ranging from 2 to 6 members must meet the following requirements:

• Be a First time Homebuyer.
• Family income must fall between 50-80% of area median income.
• Have steady employment record or constant source of income.
• Have responsible or repairable credit.
• Have responsible rental history.
• Have no criminal record.
• Have willingness to participate in Home Buyer Education

Application Process

1. Applicants' mail in completed pre-application and a credit report fee.
2. Applicants are placed on a waiting list.
3. Pre-applications are screened in the order of receipt.
4. Next, the initial eligibility requirements are screened.
5. If initial thresholds are met, a credit report is obtained then the applicant's family is interviewed.
6. Detailed eligibility criteria are verified, references are checked, and a criminal background check is completed.
7. Home visit is completed and an Individual Homeownership Plan is developed.
8. A committee interview is completed.
9. Finally, after a walk through inspection is completed your family moves in.

How do I apply?

Call 304-363-0860 ext. 105 or 304-291-1660 or 1-800-637-7464.

Lease-To-Own Homeownership Program Income Limits

Income Limits: Gross annual income must fall between 50% to 80% of the area median income based on how may members are in your household.

Marion County
2008	Number of family members
	1	2	3	4	5	6	7	8
50% of Median	16,750	19,100	21,500	23,900	25,800	27,700	29,650	31,550
60% of Median	20,100	22,920	25,800	28,680	30,960	33,240	35,580	37,860
65% of Median	21,775	24,830	27,950	31,070	33,540	36,010	38,545	41,015
80% of Median	26,800	30,600	34,450	38,250	41,300	44,350	47,450	50,500

Monongalia County
2008	Number of family members
	1	2	3	4	5	6	7	8
50% of Median	18,950	21,700	24,400	27,100	29,250	31,450	33,600	35,750
60% of Median	22,740	26,040	29,280	32,520	35,100	37,740	40,320	42,900
65% of Median	24,635	28,210	31,720	35,230	38,025	40,885	43,680	46,475
80% of Median	30,350	34,700	39,000	43,350	46,850	50,300	53,750	57,250

Contact the Fairmont/Morgantown Housing Authority to find out what we can do for you!

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