Looking to own your own home, but struggling to afford a downpayment?
Because buying your first home can be expensive, the Down Payment Assistance Program was established to help eligible first-time home buyers offset some of the upfront costs associated with home ownership.
The City of Parkersburg Development Department can help determine if you are eligible for this program. Some first-time home buyers may be eligible to receive up to $10,000 in down payment and closing cost assistance. The loan will be forgiven if the applicant lives in the home for at least five years.
Under the HOME Program’s regulations applicants must be considered low-and-moderate income, as defined under HUD’s Section 8 Income Guidelines. For example, a one person household’s annual income must be at or below $30,000 annually. A household of four must earn at or below $42,800 annually in order to income qualify. Applicants must be first-time home buyers.
Funding for the Down Payment Assistance Program is made possible by the U.S. Housing and Urban Development HOME Investments Partnerships Program (HOME).
If you have any questions about the program, please contact the City of Parkersburg Development Department:
One Government Square
P.O. Box 1627
Parkersburg WV 26102
Phone (304) 424-8595
Fax (304) 424-8464