The Rural
Housing Programs of West Virginia work to improve the quality
of life for rural Americans by ensuring that they have access
to safe, well-built, affordable homes. A house is more than
a roof over our heads; it is often the cornerstone upon which
rests our ability to live near good jobs and to gain access
to good schools and other public services. Home ownership builds
economic stability and, over the long term, creates equity to
finance education, business startups and retirement. People
with equity in their homes not only take greater pride in them,
they also become more involved in their communities. Rural Housing
Programs thus, not only helps rural people acquire homes, it
helps build better lives and communities.
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Home
Ownership Guaranteed Loans Home
Ownership Direct Loans
Self Help Housing
Home Improvement Loans and Grants
Site Loans
Housing Subsidies
Housing Preservation Grants
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Home
Ownership Guaranteed Loans
Rural Housing Guaranteed Loans are available for households with
income that do not exceed 115% of the median household income. To
determine the income limit for a particular county, click on “USDA
Income & Property Eligibility Site” at the Rural Housing
Programs web page. Applicants may obtain 100% financing to build,
purchase new,or purchase existing dwellings. Loans are for 30 years
and the lender must determine repayment feasibility using ratios.
Housing must be modest in size, design, and cost. There is no loan
limit other than having the appropriate repayment ratios. Loans
are made by approved Guaranteed Lenders.
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Home
Ownership Direct Loans
Rural Housing Direct Loans are available for low and very low-income
households to obtain homeownership. Applicants may obtain 100% financing
to build, purchase new, purchase existing, purchase a site, repairs,
and water and sewage facilities. The loans are for up to 33 years
(38 for those with incomes below 60 percent of the area median income
and who cannot afford 33-year terms). Interest rates are subsidized
and may be as low as 1%. Applicant's income must be at or below
80 percent of the area median income. To determine the income limit
for a particular county, click on “USDA
Income & Property Eligibility Site” at the Rural Housing
Programs web page. Housing must be modest in size, design, and cost.
The loan limits for the areas are located on this spreadsheet.
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Self-Help
Housing
Self-Help Housing Loans help groups of six to ten low-income families
build their own homes by providing materials and the skilled labor
they cannot furnish themselves. The families must agree to work
together until all homes are finished.
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Home
Improvement Loans and Grants
Home Improvement and Repair Loans and Grants enable very low-income
rural homeowners to remove health and safety hazards from their
homes and to make homes accessible for people with disabilities.
Grants are available for people 62 years old and older who cannot
afford to repay a loan.
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Site
Loans
Rural Housing Site Loans buy adequate building sites for development
of a desirable community by private or public nonprofit organizations.
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Housing
Subsidies
Rural Housing Programs
can help subsidize monthly mortgage and rental payments, limiting
these costs to no more than 30 percent of the adjusted monthly income
of the applicant. These subsidies can be used for the home ownership
programs described above.
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Housing
Preservation Grants (HPG)
Housing Preservation Grants are provided to nonprofit and governmental
organizations to remove health and safety hazards to owner-occupied
residences or rental housing for low income individuals. These grants
are used along with other funding sources to accomplish the repairs.
The dates and location to apply are published in the Federal Register
annually. The Notice of Funding Availability can be accessed through
the National Rural Development Webpage.
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