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.

   New Homes Coming Soon at Augusta Pines in Fairmont,
                     a new residential subdivision.

How Do I Qualify?

Families 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
2011	Number of family members
	1	2	3	4	5	6	7	8
50% of Median	17,150	19,600	22,050	24,500	26,500	28,450	30,400	32,250
60% of Median	20,580	23,520	26,460	29,400	31,800	34,140	36,480	38,820
80% of Median	27,450	31,400	35,300	39,200	42,350	45,500	48,650	51,750

Monongalia County
2011	Number of family members
	1	2	3	4	5	6	7	8
50% of Median	19,600	22,400	25,200	27,950	30,200	32,450	34,700	36,900
60% of Median	23,520	26,880	30,240	33,540	36,240	38,940	41,640	44,280
80% of Median	31,300	35,800	40,250	44,700	48,300	51,900	55,450	59,050

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

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* HOME now available in Fairmont