First-time home buyer programs in West Virginia: assistance, loans and real costs
Before the program names: west Virginia has the second-lowest median home price in the country and a low property tax rate, so a first-time buyer’s entire cash to close on a typical home can be under $8,000 even before WVHDF assistance.
| State housing agency | West Virginia Housing Development Fund (WVHDF) |
|---|---|
| Median home price (approx.) | $170,000 — statewide order of magnitude; metros differ |
| 3.5% / 5% / 20% down | $5,950 / $8,500 / $34,000 on the median |
| Property tax (effective) | about 0.55% — roughly $935 a year on the median |
| Mortgage credit certificate | Not consistently offered — ask a lender |
| Transfer tax | West Virginia’s excise tax on real property transfers is $1.10 per $500 for the state plus $1.10 per $500 for the county (0.44% combined; some counties charge more), customarily paid by the seller. |
West Virginia’s first-time buyer programs
The West Virginia Housing Development Fund’s Homeownership Program offers below-market first mortgages to first-time buyers (and repeat buyers in targeted areas), Movin’ Up serves moderate-income repeat buyers, and the Low Down Home Loan adds down payment assistance.
How the assistance money works
WVHDF’s down payment and closing cost assistance is a second loan (commonly up to $10,000 or a percentage of the price, depending on the program) at a low fixed rate repaid over 15 years, covering the down payment and closing costs.
Assistance structures matter as much as amounts: a grant is free; a forgivable second disappears if you stay long enough; a deferred second is repaid when you sell or refinance; a repayable second adds a monthly payment. Ask which one you are being offered. See how down payment assistance programs work.
Mortgage credit certificate (tax credit)
West Virginia does not operate a Mortgage Credit Certificate program; ask a WVHDF-participating lender about other options.
Limits and requirements
WVHDF income and purchase price limits vary by county and household size (higher in targeted areas); a 620 to 640 minimum credit score and homebuyer education are typical requirements.
What closing costs look like in West Virginia
West Virginia’s excise tax on real property transfers is $1.10 per $500 for the state plus $1.10 per $500 for the county (0.44% combined; some counties charge more), customarily paid by the seller.
West Virginia buyer closing costs typically total 2% to 3% of a low price; attorneys or title agencies handle closings. The closing costs guide shows what is negotiable; seller concessions shows how much a seller may contribute on each loan type.
What the payment looks like on a $170,000 home
Worked on West Virginia’s rough $170,000 median (your county may be far above or below) at an illustrative 6.5%: down payment, loan amount, principal and interest, and the monthly share of property tax at the state’s approximate 0.55% effective rate, or about $935 a year. Exclude nothing else from your own budget — insurance, PMI, HOA dues all apply.
| Structure | Down payment | Loan amount | P&I at 6.5% (30 yr) | Property tax / mo (est.) |
|---|---|---|---|---|
| FHA, 3.5% down | $5,950 | $164,050 | $1,037 | $78 |
| Conventional, 5% down | $8,500 | $161,500 | $1,021 | $78 |
| Conventional, 20% down (no PMI) | $34,000 | $136,000 | $860 | $78 |
Illustrative rate and approximate state figures — not an offer or a quote. Full payment tables cover $150,000 to $800,000 at 5% to 8%; the affordability guide explains how lenders size the loan.
Frequently asked questions
Does West Virginia have down payment assistance for first-time buyers?
WVHDF’s down payment and closing cost assistance is a second loan (commonly up to $10,000 or a percentage of the price, depending on the program) at a low fixed rate repaid over 15 years, covering the down payment and closing costs. The agency publishes the current limits and amounts; a lender approved for the program will know them.
Is there a first-time home buyer tax credit in West Virginia?
West Virginia does not operate a Mortgage Credit Certificate program; ask a WVHDF-participating lender about other options. The credit is worth a percentage of the mortgage interest you pay each year, up to a federal cap, and can be combined with many first-mortgage programs.
What are typical closing costs when buying a house in West Virginia?
West Virginia buyer closing costs typically total 2% to 3% of a low price; attorneys or title agencies handle closings. West Virginia’s excise tax on real property transfers is $1.10 per $500 for the state plus $1.10 per $500 for the county (0.44% combined; some counties charge more), customarily paid by the seller.
Before you apply
- Earnest money explained: how much, who holds it, and how you lose it
- Appraisal gap: what happens when the home appraises below your offer
- Down payment assistance programs: how they work and how to find yours
- How much house can I afford? The math lenders actually use
Same state, other questions: hard money rules in West Virginia · foreclosure in West Virginia.