Down Payment Assistance

Helping you Bridge the Gap to Home Ownership

One of the most daunting home-buying tasks, particularly for first-time buyers, is coming up with the money for the down payment and closing costs. Many people are unaware there are grant programs (free money) to assist with these costs, as well as special financing for qualified buyers, including Veterans, Native Americans, and those with disabilities.

Below are just some of the programs to assist with down payment assistance and closing costs, and other housing assistance.

Let us know if you think you might qualify for down payment assistance and we will try to help match you with a grant program and participating lender. Terms and conditions apply and will vary by program and availability.

West Virginia Housing Development Fund (WVHDF) Down Payment Assistance (Movin' Up Program)

Down Payment/Closing Cost Assistance

Down payment and closing cost assistance loans are available in conjunction with the Homeownership and Movin Up programs to reduce the amount of upfront money needed to purchase a home.

Options for Homeownership program:

• $10,000 for loans with a loan-to-value ratio greater than 90% of the purchase price
• $15,000 for loans with a loan-to-value ratio less than 90% of the purchase price

Options for Movin' Up program:

• $5,000 for loans with a loan-to-value ratio greater than 90% of the purchase price
• $8,000 for loans with a loan-to-value ratio less than 90% of the purchase price

Loan Terms:

• It is a 15-year, fixed-rate loan
• The current rate is 2.5%

Benefits

• Below market interest rate and up to 100% financing.
• Do not have to be a first time homebuyer.

Participating Lenders

Approved Education Providers

Program Guide/Flyer

Program Provider's Website

Program Provider's Phone
1-800-933-8511 or 304-391-8738

National Homebuyers Fund Platinum Program

The NHF Platinum Program provides down payment assistance (up to 5% of the loan amount) in conjunction with the purchase of a primary residence. Income and sales price limits vary by county. FHA/VA/USDA/Fannie Mae

Maximum Amount

Varies based on county/income/sales price

Benefits

• Do not have to be a first time homebuyer.
• Down payment grant does not need to be repaid.

Participating Lenders

Approved Education Providers
Contact Program Provider

Program Guide/Flyer

Program Provider's Website

Program Provider's Phone
866-643-4968 or 866-NHF-4YOU or info@nhfloan.org

PenFed Foundation Dream Makers Grant for Veterans

The Dream Makers program offers grants for down payment and closing costs to first-time homebuyers of modest means who valiantly work to protect our country's national security, including active duty, reserve, National Guard, veteran military, and employees of DHS.

The amount of the grant is determined by a 2-to-1 match of the borrower's contribution to their mortgage in earnest deposit and cash brought at closing with a maximum grant of $5,000. The borrower must contribute a minimum of $500. Grant approvals are contingent upon available funding, and can be used in conjunction with other grants.

Maximum Amount

$5,000

Benefits

• Up to $5k for down payment and closing costs via a 2-1 match.
• Down payment grant - does not have to be repaid!
• May use any lender.

Approved Education Providers

Program Guide/Flyer

Program Provider's Website

Program Provider's Phone
Jenlene L. Nowak, Foundation Program Specialist, 703-838-1335 or jenlene.nowak@penfed.org

United States Department of Veterans Affairs - Specially Adapted Housing (SAH) Grant

Maximum Amount

$73,800

Benefits

• SAH grants help Veterans with certain service-connected disabilities live independently in a barrier-free environment.
• Funds can be used to: Construct a specially adapted home on land to be acquired, build a home on land already owned if it is suitable for specially adapted housing, remodel an existing home if it can be made suitable for specially adapted housing, or can be applied against the unpaid principal mortgage balance of an adapted home already acquired without the assistance of a VA grant.
• May use any lender.

Program Provider's Phone
(877) 647-8764 or info@homestrongusa.org

Approved Education Providers
NA

Program Guide/Flyer

Program Provider's Website

Program Provider's Phone
1-800-827-1000 or sahinfo.vbaco@va.gov