West Virginia Movin' Up Program Guide

Guide to the West Virginia Movin' Up Program

The West Virginia Movin' Up Program is designed to help repeat and move-up homebuyers secure affordable mortgage options and financial assistance. With competitive fixed-rate loans and support for upfront costs, this program aims to make the transition to a new home more accessible. Below is a comprehensive guide to the program’s features, requirements, and application process for 2025.

1. Program Overview:

• Purpose: The Movin' Up Program provides affordable fixed-rate mortgages and down payment assistance to eligible repeat buyers or those transitioning to a new home.
• Loan Terms: The program offers 30-year fixed-rate mortgages, ensuring predictable and stable monthly payments.
• Down Payment Assistance: Buyers may qualify for financial support to cover down payments and closing costs, reducing the initial expenses of homeownership.

2. Eligibility Requirements for 2025:

To qualify for the West Virginia Movin' Up Program, applicants must meet the following criteria:

• Repeat Homebuyers: The program is tailored for repeat buyers or those transitioning to a new home. First-time buyers may also qualify but may benefit more from other programs.
• Income Limits: Household income must fall within program limits, which vary by location and household size. These limits are updated annually.
• Credit Score: A minimum credit score of 620 is typically required. Additional lender-specific requirements may apply.
• Property Requirements: Eligible homes must be located in West Virginia, used as the buyer’s primary residence, and meet program purchase price limits.

3. How to Apply:

Follow these steps to apply for the West Virginia Movin' Up Program:

• Assigned Loan Officer: Once you begin the application process, a loan officer will be assigned to assist you. They will verify your eligibility, explain the program benefits, and guide you through the application process.
• Prepare Documentation: Gather necessary documents, including proof of income, tax returns, credit history, and property details.
• Submit Your Application: Work closely with your assigned loan officer to complete and submit the application. Your loan officer will handle the processing and notify you of approval status.

4. Homebuyer Education Course:

• Mandatory Requirement: All applicants must complete an approved homebuyer education course. This course ensures buyers are prepared for the responsibilities of homeownership and offers valuable insights into managing finances effectively.
• Course Availability: The course is available online or in person. Upon completion, participants will receive a certificate that must be included with their application.

5. Key Benefits of the Movin' Up Program:

• Affordable Fixed Rates: The program provides competitive fixed-rate mortgages, ensuring manageable and predictable monthly payments.
• Down Payment Assistance: Buyers can access financial support for down payments and closing costs, easing the financial burden of purchasing a new home.
• Support for Repeat Buyers: Tailored to meet the needs of move-up and repeat homebuyers, the program offers both financial and educational resources to simplify the homebuying process.

6. Finalizing the Loan:

• Approval Process: Once approved, your assigned loan officer will guide you through the next steps, including reviewing loan terms, signing documents, and preparing for closing.
• Closing Costs: While the program provides significant assistance, buyers may still need to cover certain closing costs. Your loan officer will provide a detailed breakdown of these expenses.

The West Virginia Movin' Up Program is an excellent resource for homebuyers looking to transition to a new home or upgrade their current living situation. With competitive rates, tailored support, and expert guidance, this program helps West Virginia residents achieve their homeownership goals. Begin your journey with the West Virginia Movin' Up Program in 2025.