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Home Buyer Education – This program does require a home buyer education course to qualify.The program doesn’t have an acreage limit, but all homes must be in the state of West Virginia. Home Type – Houses, condos, and townhouses, are all eligible purchase options.Income level – The income level for this program is set at $113,760 for one and two-person households and $132,720 for households with three or more members.There are several factors that influence home buyers eligibility for the Movin’ Up Program, including: $8,000 for loans with a loan-to-value ratio less than 90% of the purchase price.$5,000 for loans with a loan-to-value ratio greater than 90% of the home’s price.You can choose one of two cost assistance options: Down payment/closing cost assistance – Some of the more taxing costs of buying a home are the down payment-the amount you pay to the seller-and the closing costs-the fees and expenses you pay for homeowners insurance, survey fees, escrow fees, and other associated costs.īut the Movin’ Up Program can help alleviate that burden with 15-year fixed rate loans with a 2% interest rate.Home loans with a low interest rate – The current interest rate for the Movin’ Up Program is set at 3.75% (APR 4.236%).
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Through the Movin’ Up Program, home buyers can enjoy a few options for financial assistance including:
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That means you can take advantage of this program’s opportunities whether you’ve purchased a home before or if this is your first time in the housing market arena. Unlike other programs, West Virginia’s Movin’ Up Program doesn’t require you to be a first-time home buyer.